Air-Conditioned Industrial
For Sale
$425,000
Pending
3893 Mannix Dr Unit 529, Naples, FL 34114
Compact industrial condominium combining office space with a warehouse area and roll-up loading access.
Property Size1,500 SF
Days on Market80
Property Features for 3893 Mannix Dr Unit 529
General Information
Standard status
Pending
Size
1,500 SF
Property subtype
Commercial
Warehouse & Industrial
Warehouse Space
1,200 SF
Office Build-Out
300 SF
Conditioned Warehouse
Yes
Building Details
Year Built
2006
Listing Agency:
Premier Commercial Inc
(239) 213-7408
Listed By:
Matthew Stepan PA · License #3082516
Source:
Napleshomesearches
Added: Jun 11
Changed: Aug 29
Last Checked: Aug 25 at 7:20AM
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 1,500± SF industrial condominium, completed in 2006, combines a 300± SF office with a 1,200± SF warehouse. The entire space is air conditioned, and a 14' x 14' roll-up door supports receiving and loading activity.
Located at 3893 Mannix Dr Unit 529 in Naples, Florida, the property offers a defined commercial condominium format for industrial operations, storage, or related business use.
Located at 3893 Mannix Dr Unit 529 in Naples, Florida, the property offers a defined commercial condominium format for industrial operations, storage, or related business use.
Key Highlights
- 1,500± SF industrial condominium
- 300± SF air‑conditioned office area
- 1,200± SF warehouse space
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
$13,033
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
3.07%
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%
$260,660
$260.7K
Cap Rate 7%
$186,186
$186.2K
Cap Rate 9%
$144,811
$144.8K
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
$15.8K $10.56/SF
− Vacancy
−$507 −$0.34/SF
EGI
$15.3K $10.22/SF
− OpEx
−$2.3K −$1.53/SF
NOI
$13.0K $8.69/SF
Area
Collier County, FL
Vacancy
3.20%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
15.00%
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%
$260,660
Cap Rate 7%
$186,186
Cap Rate 9%
$144,811
Alternative Uses
Best Use
Warehouse
$186.2K
$162.9K – $217.2K
NOI $13,033 @ 7.0% cap · market cap 3.07%
Second Best
Flex RnD
$174.2K
$152.4K – $203.2K
NOI $12,194 @ 7.0% cap · market cap 2.87%
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
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Compact industrial condominium combining office space with a warehouse area and roll-up loading access.
Where is this flex space located?
The property is located at 3893 Mannix Dr Unit 529 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 industrial condominium; 300± SF air‑conditioned office area; 1,200± SF warehouse space
