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Property profile & analytics
FOR LEASE
Office buildings
848 1St Ave N Naples, FL 34102
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US18-3273732
For Lease
1 / 5
$1,610,000
848 1St Ave N, Naples, FL 34102
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Property summary
AI-generated overview
The Askar Building, located at 848 1st Ave N in Naples, Florida (zip code 34102), presents a unique opportunity for businesses seeking prime office space in the heart of downtown. This three-story building, constructed in 1970, offers a total of 16,875 square feet of retail and office space, with a minimum divisible unit of 875 square feet and a maximum contiguous space of 2,665 square feet. Currently, 5,643 square feet are vacant and ready for immediate occupancy. The building features attractive 12'2" ceilings, providing a spacious and modern feel. The Askar Building is conveniently located near 5th Avenue, offering excellent access to a variety of amenities and businesses. Ample parking is available with 73 spaces provided for tenants and their clients. The property is classified as Executive Office and Commercial, suitable for a variety of professional uses. Multiple tenancy options are available, making it ideal for businesses of various sizes. This Collier County property offers a blend of classic charm and modern functionality, making it an exceptional investment opportunity in a thriving downtown Naples location.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1970
Total area
5,625 SF
Lot
0.89 ac (38,768 SF)
Zoning code
NAPLES
APN
14045280004
UPID
US18-3273732
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
-
Lorraine Fierro, MSPT Physician
-
Mark Rubino MD LLC Physician Medical Clinic
-
Forszpaniak Christine MD Physician
-
Ballew Darlene W MA Physician
-
Smith Pamela S Marriage Or Relationship Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.90M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.61M
Owner & transaction history
Asnc LLC · 10 yrs held
Asnc LLC
since 2015
3 recorded transactions
Zoning & alternative use
NAPLES · Naples, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,060,000
6.5%
$1,900,000
7%
$1,765,000
Blend value · Realmo final
$1.61M
Range $1.45M – $1.77M · ±10%
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
$286 / 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
$42,237
Tax year 2023
Assessed value
$4,564,381
Assessed 2023
Previous assessed
$4,328,594
+5.4% YoY
Effective rate
0.93%
On assessed value
Assessed land
$3,288,094
Assessed improvement
$1,276,287
Land market value
$3,288,094
Improvement market value
$1,276,287
Total market value
$4,564,381
Applied tax rate
282.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1970
Heating
NONE
Stories
3
Units
1
Total area
5,625 SF
Lot
0.89 ac (38,768 SF)
Zoning code
NAPLES
APN
14045280004
UPID
US18-3273732
Jurisdiction
COLLIER
Zoning & alternative use
NAPLES · Naples, FL
Zoning NAPLES · permitted uses
NAPLES · 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.
Building & site characteristics
From public records
Year built
1970
Heating
NONE
Stories
3
Units
1
Lot
0.89 ac
Current owner
From public records · entity-resolved
Asnc LLC
Entity
Mailing address
8101 RICHARDSON RD STE #101, COMMERCE TOWNSHIP, MI 48390-4115
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 5, 2015
$3,225,000
Asnc LLC
848 First LLC
Warranty Deed
$2,741,250 · First Florida Integrity Bank
May 17, 2013
$2,000,000
848 First LLC
Spartabucks LLC
Warranty Deed
$914,913 · First National Bank
Sep 10, 2003
$2,825,000
Spartabucks LLC
Irimies,cornel P & Michaela M
Grant Deed
$2,950,000 · Tib Bank Of The Keys
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.
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