Fully Air-Conditioned Industrial
For Sale
$425,000
3893 Mannix Dr, Naples, FL 34114
COMMERCIAL - NAPLES, FL
Property Size1,500 SF
Price / SF$283.33
Days on Market68
Property Features for 3893 Mannix Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
NA32 - North Belle Meade
Standard status
Active
APN
76875000845
Taxes and HOA fees
Tax Year
2025
Tax Description
TOLLGATE BUSINESS PARK II CONDOMINIUM UNIT 510
Tax Annual Amount
3215
Legal Description
TOLLGATE BUSINESS PARK II CONDOMINIUM UNIT 510
Building Details
Year built
2006
Floors in Building
1
Listing Agency:
Premier Commercial Inc
(239) 992-1200
Listed By:
Matthew Stepan PA · License #3082516
(239) 213-7408
Added: Jun 4
Changed: Aug 4
Last Checked: Aug 10 at 5:06PM
MLS# 226023141
Copyright © 2026 Coconut Coast Organization of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully air-conditioned industrial condo offers approximately 1,500 +/- SF total, with a dedicated office area of about 330 +/- SF and a warehouse space of approximately 1,200 +/- SF. The unit includes one 14’ x 14’ roll-up door for loading and storage needs, with the balance of the space supported by air conditioning throughout.
Located at 3893 Mannix Dr in Naples, Florida (Collier County), the property is positioned as an industrial condo format, providing a contained, unit-specific layout for businesses that want separate office and warehouse space within a shared industrial setting.
The interior configuration makes it practical for tenants seeking a light industrial or service-style setup that benefits from an on-site, climate-controlled office alongside an operational warehouse area. For buyers, the combination of dedicated office space, meaningful warehouse volume, and a roll-up door supports a wide range of everyday business functions where controlled indoor comfort and straightforward loading are important.
Located at 3893 Mannix Dr in Naples, Florida (Collier County), the property is positioned as an industrial condo format, providing a contained, unit-specific layout for businesses that want separate office and warehouse space within a shared industrial setting.
The interior configuration makes it practical for tenants seeking a light industrial or service-style setup that benefits from an on-site, climate-controlled office alongside an operational warehouse area. For buyers, the combination of dedicated office space, meaningful warehouse volume, and a roll-up door supports a wide range of everyday business functions where controlled indoor comfort and straightforward loading are important.
Key Highlights
- 2006‑built industrial condo with 1,500+/- SF total space (330+/- SF office and 1,200+/- SF warehouse)
- Fully air conditioned interior
- Warehouse includes one 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
1
Office units
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 - Industrial condo with a dedicated office and a roll-up door, designed for climate-controlled work space.
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: 2006‑built industrial condo with 1,500+/- SF total space (330+/- SF office and 1,200+/- SF warehouse); Fully air conditioned interior; Warehouse includes one 14' x 14' roll‑up door
