Air-Conditioned Industrial Condo
For Sale
$425,000
3893 Mannix Dr, Naples, FL 34114
Fully air-conditioned industrial condo with a dedicated office area and a 14' x 14' roll-up door.
Property Size1,500 SF
Price / SF$283.33
Days on Market118
Property Features for 3893 Mannix Dr
General Information
Standard status
Active
Size
1,500 SF
Property subtype
General Commercial
Additional Details
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$3,215
Amenities
3
Building Details
Year Built
2006
Stories
1
Listing Agency:
Premier Commercial Inc
(239) 992-1200
Listed By:
Matthew Stepan
Source:
Xome
Added: Apr 18
Changed: Aug 12
Last Checked: Aug 13 at 3:48AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Premier Commercial Inc
Investment Insights
Based on property information with market context.
This offering is a 1,500± SF fully air-conditioned industrial condo featuring a functional split layout of approximately 300± SF office space and 1,200± SF warehouse area. The warehouse includes a 14' x 14' roll-up door, supporting straightforward move-in and everyday operations.
The property is located at 3893 Mannix Dr Unit 529 in Naples, Florida. As an industrial condo unit, it is suited for users looking for a defined, manageable space rather than an open-ended warehouse footprint.
For tenants or buyers who need both workspace and light administrative support, the configuration provides separation between office functions and warehouse operations within the same unit. The fully air-conditioned design and roll-up door access make it practical for businesses that handle equipment, storage, or light distribution while maintaining comfortable indoor working conditions.
The property is located at 3893 Mannix Dr Unit 529 in Naples, Florida. As an industrial condo unit, it is suited for users looking for a defined, manageable space rather than an open-ended warehouse footprint.
For tenants or buyers who need both workspace and light administrative support, the configuration provides separation between office functions and warehouse operations within the same unit. The fully air-conditioned design and roll-up door access make it practical for businesses that handle equipment, storage, or light distribution while maintaining comfortable indoor working conditions.
Key Highlights
- 1,500± SF fully air‑conditioned industrial condo
- Includes 300± SF office and 1,200± SF warehouse
- Warehouse features a 14' x 14' roll‑up door
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,881
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$617,620
$617.6K
Cap Rate 7%
$441,157
$441.2K
Cap Rate 9%
$343,122
$343.1K
Market Conditions
NOI Build-Up for 1,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$45.0K $30.00/SF
− Vacancy
−$3.8K −$2.55/SF
EGI
$41.2K $27.45/SF
− OpEx
−$10.3K −$6.86/SF
NOI
$30.9K $20.59/SF
Area
Collier County, FL
Vacancy
8.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$617,620
Cap Rate 7%
$441,157
Cap Rate 9%
$343,122
Alternative Uses
Best Use
Office B
$441.2K
$386.0K – $514.7K
NOI $30,881 @ 7.0% cap · market cap 7.27%
Second Best
Warehouse
$186.2K
$162.9K – $217.2K
NOI $13,033 @ 7.0% cap · market cap 3.07%
Theoretical Best
Office A
$602.0K
$526.8K – $702.4K
NOI $42,141 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34114, FL
21,343
Population
16,381
Households
1.3
Avg Household Size
62
Median Age
41%
College-Educated
90%
High-School Grad
176.6 sq mi
ZIP Area
121
Density / Sq Mi
$81,314
Median Household Income
$38,467
Median Earnings
$1,993
Median Rent
$469,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Fully air-conditioned industrial condo with a dedicated office area and a 14' x 14' roll-up door.
Where is this flex space located?
The property is located at 3893 Mannix Dr Naples, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 1,500± SF fully air‑conditioned industrial condo; Includes 300± SF office and 1,200± SF warehouse; Warehouse features a 14' x 14' roll‑up door
