Five-Bay Self-Service Car
For Sale
$980,000
4074 23rd Ave SW, Naples, FL 34116
C-4-zoned commercial site with an existing car wash, wraparound parking, and access from a curb cut.
Property Size1,760 SF
Lot Size0.33 Acres
Price / SF$556.82
Days on Market235
Property Features for 4074 23rd Ave SW
General Information
Standard status
Active
Size
1,760 SF
Lot size
0.33 Acres
Property subtype
Commercial
Zoning
C-4
Additional Details
Road Access
Yes
Car Wash Bays
5
Amenities
self-serve car wash
office with bathroom
3-phase power
curb cut
wraparound parking
Building Details
Year Built
1982
Buildings
1
Listing Agency:
Coldwell Banker Realty
Listed By:
Carla Alvear
Source:
Naplesareapropertysearch
Added: Jan 7
Changed: Aug 29
Last Checked: Aug 25 at 7:18AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
The property includes a functioning five-bay self-service car wash on a .33-acre parcel with 1,766 SF of improvements. Approximately 266 SF each, the bays include one space configured as an office with a bathroom. The site has 3-phase power rated at 240 volt/300 AMP and no buried water tanks. Built in 1982, the improvements offer a straightforward existing-use configuration with flexibility for reworking the building and site.
Located at 4074 23RD Avenue SW in Naples, the property sits one block off Collier Boulevard, also designated State Road 951. Site access includes a curb cut and wraparound parking. Potential reuse concepts identified for the property include covered auto storage, drive-through retail, a car wash and retail combination, a food truck court or flex retail layout, and an EV charging hub with up to 12 stations. The parcel carries C-4 zoning.
Located at 4074 23RD Avenue SW in Naples, the property sits one block off Collier Boulevard, also designated State Road 951. Site access includes a curb cut and wraparound parking. Potential reuse concepts identified for the property include covered auto storage, drive-through retail, a car wash and retail combination, a food truck court or flex retail layout, and an EV charging hub with up to 12 stations. The parcel carries C-4 zoning.
Key Highlights
- .33‑acre (±14,375 SF) C‑4‑zoned parcel with 1,766 SF of improvements
- Five wash bays, approximately 266 SF each; one bay is configured as an office with bathroom
- 3‑phase power in place: 240 volt/300 AMP
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
$34,749
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
3.55%
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%
$694,980
$695.0K
Cap Rate 7%
$496,414
$496.4K
Cap Rate 9%
$386,100
$386.1K
Market Conditions
NOI Build-Up for 1,760 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
$47.5K $27.00/SF
− Vacancy
−$1.2K −$0.68/SF
EGI
$46.3K $26.33/SF
− OpEx
−$11.6K −$6.58/SF
NOI
$34.7K $19.74/SF
Area
Collier County, FL
Vacancy
2.50%
Lease Rate
$27.00 /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%
$694,980
Cap Rate 7%
$496,414
Cap Rate 9%
$386,100
Alternative Uses
Best Use
Specialty Retail
$496.4K
$434.4K – $579.2K
NOI $34,749 @ 7.0% cap · market cap 3.55%
Second Best
Retail
$306.2K
$267.9K – $357.2K
NOI $21,431 @ 7.0% cap · market cap 2.19%
Theoretical Best
Office A
$706.4K
$618.1K – $824.1K
NOI $49,446 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
425
Businesses Nearby
Explore this area
Business Placement
Demographics for 34116, FL
31,538
Population
11,081
Households
2.8
Avg Household Size
37
Median Age
17%
College-Educated
81%
High-School Grad
9.3 sq mi
ZIP Area
3,391
Density / Sq Mi
$69,204
Median Household Income
$35,573
Median Earnings
$1,663
Median Rent
$392,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self service car wash - C-4-zoned commercial site with an existing car wash, wraparound parking, and access from a curb cut.
Where is this self service car wash located?
The property is located at 4074 23rd Ave SW Naples, FL.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: .33‑acre (±14,375 SF) C‑4‑zoned parcel with 1,766 SF of improvements; Five wash bays, approximately 266 SF each; one bay is configured as an office with bathroom; 3‑phase power in place: 240 volt/300 AMP
