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Property profile & analytics
OFF-MARKET
Estimated value
$4,995,000
Distribution centers
4185 Corporate Sq, Naples, FL 34104-4754
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-1032237
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2001
Total area
18,880 SF
Lot
1.27 ac (55,321 SF)
Zoning code
I
APN
27831320000
UPID
US18-1032237
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
R.E. Michel Company Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.11M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.49M
Blend (final)
Blend
$5.00M
Owner & transaction history
Skywater Naples Fl LLC · 4 yrs held
Skywater Naples Fl LLC
since 2022
Last sale
$4.6M
4 recorded transactions
Zoning & alternative use
I · Naples, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.8M
+73.4%
Industrial (general)
$6.9M
+52.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Naples submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Naples submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$5,040,000
ML approach
$5,110,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,510,000
Current use
COMMERCIAL (GENERAL)
$7,820,000
Change: +73% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$6,885,000
Change: +53% · Conversion: Easy
Blend value · Realmo final
$5.00M
Range $4.50M – $5.49M · ±10% · vs last sale $4.60M (Apr 7 2022)
Last sale anchor
$4.60M
Apr 7 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$265 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$33,977
Tax year 2023
Assessed value
$3,262,599
Assessed 2023
Previous assessed
$2,054,242
+58.8% YoY
Effective rate
1.04%
On assessed value
Assessed land
$1,613,535
Assessed improvement
$1,649,064
Land market value
$1,613,535
Improvement market value
$1,649,064
Total market value
$3,262,599
Applied tax rate
172.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2001
Heating
NONE
Stories
1
Total area
18,880 SF
Lot
1.27 ac (55,321 SF)
Zoning code
I
APN
27831320000
UPID
US18-1032237
Jurisdiction
COLLIER
Zoning & alternative use
I · Naples, FL
Zoning I · permitted uses
I · Naples, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Naples. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.5M
COMMERCIAL (GENERAL)
Est. value
$7.8M
INDUSTRIAL (GENERAL)
Est. value
$6.9M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2001
Heating
NONE
Stories
1
Lot
1.27 ac
Current owner
From public records · entity-resolved
Skywater Naples Fl LLC
Entity
Free & Clear · 4 yrs held
Mailing address
1 RE MICHEL DR, GLEN BURNIE, MD 21060-6408
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 7, 2022
$4,600,000
Skywater Naples Fl LLC
Henriette Freng
Warranty Deed
—
Apr 17, 2001
—
Robert V Short
—
Trustees Deed
related
$601,971 · Atlantic States Bank
Jul 14, 1999
$245,000
Robert V Short
Naples Business Park
Grant Deed
$186,000 · Community Bank Of Naples NA
—
—
Robert V Short JR.
—
Deed Of Trust
related
$196,000 · Ironstone Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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