Fenced Flex Space with 2
For Sale
Contact for pricing
6188 Lee Ann Ln, Naples, FL 34109
Industrial-zoned vacancy combines warehouse functionality with dedicated office space.
Property Size2,400 SF
Price / SF$541.25
Days on Market157
Property Features for 6188 Lee Ann Ln
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Industrial, Office
Zoning
Industrial
Additional Details
Fenced Yard
Yes
Building Details
Year Built
1984
Buildings
1
Listing Agency:
Investment Properties Corporation of Naples
Listed By:
Christine McManus · License #FL 653823
(239) 261-3400
Source:
Crexi
Added: Mar 31
Changed: Aug 31
Last Checked: Aug 31 at 4:33AM
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 Investment Properties Corporation of Naples
Investment Insights
Based on property information with market context.
This 2,400-square-foot flex property combines warehouse space with an office component and two restrooms. The building includes two bays fitted with new doors, along with a shed and a storage container positioned at the rear. A new roof adds to the recent physical improvements.
The property is fenced and accessed through a gate, providing a defined perimeter for the site. It is currently vacant and was constructed in 1984. The address is 6188 Lee Ann Ln, Naples, FL 34109, and the zoning is Industrial.
The property is fenced and accessed through a gate, providing a defined perimeter for the site. It is currently vacant and was constructed in 1984. The address is 6188 Lee Ann Ln, Naples, FL 34109, and the zoning is Industrial.
Key Highlights
- 2,400‑square‑foot flex property with warehouse and office areas
- Two bays equipped with new doors
- New roof and two restrooms
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
$49,410
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
3.80%
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%
$988,200
$988.2K
Cap Rate 7%
$705,857
$705.9K
Cap Rate 9%
$549,000
$549.0K
Market Conditions
NOI Build-Up for 2,400 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
$72.0K $30.00/SF
− Vacancy
−$6.1K −$2.55/SF
EGI
$65.9K $27.45/SF
− OpEx
−$16.5K −$6.86/SF
NOI
$49.4K $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%
$988,200
Cap Rate 7%
$705,857
Cap Rate 9%
$549,000
Alternative Uses
Best Use
Office B
$705.9K
$617.6K – $823.5K
NOI $49,410 @ 7.0% cap · market cap 3.80%
Second Best
Warehouse
$297.9K
$260.7K – $347.6K
NOI $20,853 @ 7.0% cap · market cap 1.61%
Theoretical Best
Office A
$963.2K
$842.8K – $1.12M
NOI $67,426 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
2,085
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34109, FL
26,102
Population
16,027
Households
1.6
Avg Household Size
55
Median Age
50%
College-Educated
97%
High-School Grad
12.5 sq mi
ZIP Area
2,088
Density / Sq Mi
$91,073
Median Household Income
$57,422
Median Earnings
$1,873
Median Rent
$628,700
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-zoned vacancy combines warehouse functionality with dedicated office space.
Where is this flex space located?
The property is located at 6188 Lee Ann Ln Naples, FL.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 2,400‑square‑foot flex property with warehouse and office areas; Two bays equipped with new doors; New roof and two restrooms
