GEMINI PLAZA3784 ARNOLD AVENAPLES, FL 34104

Chad D. Commers, CCIMSenior Advisor, Naples & Fort Myers239.315.7017 | 612.801.0463chad.commers@svn.com

SVN | KOVA | 9130 GALLERIA COURT, SUITE 100, NAPLES, FL 34109 SALE BROCHURE

GEMINI PLAZA | 3784 ARNOLD AVE NAPLES, FL 34104 SVN | KOVA | Page 2The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and

completeness. All SVN® offices are independently owned and operated.

PROPERTY OVERVIEW

Gemini Plaza is well located in the Naples Industrial Park behind the Ford Dealershipon Airport Road. This Flex building offers nine (9) bays comprised of well kept office/warehouse build outs. At this time the Naples Industrial Flex Market is experiencing a1.6% vacancy rate due to the strong growth in housing and employment as the areacontinues to evolve to a major city in southwestern FL.

PROPERTY HIGHLIGHTS

• Priced Below Replacement Cost

• High Barriers To Entry - Limited Supply of Industrial/Flex Buildings in Naples

• Large Grade-Level Doors (12' x 12') & Fenced Lot

• Desirable Office/Warehouse Layouts

• Parking Ratio: 2.5/1,000 SF

• Ceiling Height: 16 FT - 18 FT

• Well Located - Traffic Counts (ADT) 46,492

• New Roof in 2014

• Electric: 3 Phase Power

OFFERING SUMMARY

Sale Price: $1,995,000

Building Size: 14,400 SF

Available SF: 1,600 SF

Lot Size: 1.04 Acres

Price / SF: $138.54

Year Built: 1982

Zoning: Industrial

2019 Taxes: $12,174.35

Market: Naples

Submarket: Southwest Florida

APN: 00277440008

Property Summary

Additional Photos

GEMINI PLAZA | 3784 ARNOLD AVE, NAPLES, FL 34104 SVN | KOVA | Page 3The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and

completeness. All SVN® offices are independently owned and operated.

Location Maps

GEMINI PLAZA | 3784 ARNOLD AVE, NAPLES, FL 34104 SVN | KOVA | Page 4The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and

completeness. All SVN® offices are independently owned and operated.

OverviewNaples Industrial

71.7 K (235 K) 4.6% 3.6%12 Mo Deliveries in SF 12 Mo Net Absorption in SF Vacancy Rate 12 Mo Rent Growth

Industrial demand has slipped a little over the past twoyears, with the average vacancy rate rising roughly 200basis points. However, the market is healthy by historicalstandards and current vacancies are roughly in-line withthe long-term average.

Annual rent growth has also struggled a bit of late,slipping to below the historical trend in 2020. This coolingperiod appears more pronounced coming on the heels ofrecord highs just a little over one year prior.

Naples is a somewhat smaller-sized industrial market,limited in part due to geographical constraints from itslocation at the tip of a peninsula. Additionally, there isn't

direct access to a deep-water port or internationalairport, though I-75 bisects the market and providesrelatively easy access to both.

The market has a manageable supply pipeline with lessthan 50,000 SF underway. Supply has been sparse overthe past decade, Naples has only increased its inventoryby a paltry 2.6% during this time.

Industrial sales activity was somewhat down for thesecond consecutive year in 2019, though Naples did posta sales volume above the long-term average. Marketcap rates have essentially held flat over the past threeyears.

KEY INDICATORS

Market RentVacancy RateRBACurrent Quarter Availability RateNet Absorption

SFDeliveries SF

UnderConstruction

$11.325.2%6,971,536Logistics 5.9% (193,971) 47,862 9,625

$11.404.6%4,671,623Specialized Industrial 5.0% (112,714) 0 0

$13.271.6%1,519,378Flex 2.8% 18,695 1,800 0

$11.574.6%13,162,537Market 5.2% (287,990) 49,662 9,625

ForecastAverage

HistoricalAverage

12 MonthAnnual Trends Peak When Trough When

4.7%4.5%2.3%Vacancy Change (YOY) 10.1% 2010 Q3 0.7% 2017 Q4

(24,031)66,102(235 K)Net Absorption SF 464,628 2012 Q3 (364,769) 2009 Q2

40,42590,11171.7 KDeliveries SF 250,010 2013 Q3 0 2012 Q3

2.0%1.5%3.6%Rent Growth 6.1% 2018 Q4 -4.5% 2009 Q4

N/A$35.4M$51.6 MSales Volume $77.2M 2015 Q2 $4.9M 2009 Q3

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LeasingNaples Industrial

VACANCY RATE

AVAILABILITY RATE

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RentNaples Industrial

MARKET RENT PER SQUARE FOOT

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Sales Past 12 MonthsNaples Industrial

80 7.4% $146 6.2%Sale Comparables Avg. Cap Rate Avg. Price/SF Avg. Vacancy At Sale

SALE COMPARABLE LOCATIONS

SALE COMPARABLES SUMMARY STATISTICS

Sales Attributes Low Average Median High

Sale Price $80,395 $1,325,378 $937,500 $4,408,000

Price Per SF $42 $146 $153 $406

Cap Rate 4.1% 7.4% 7.0% 11.8%

Time Since Sale in Months 0.5 5.8 6.7 11.9

Property Attributes Low Average Median High

Building SF 1,000 9,052 6,893 40,000

Ceiling Height 10' 16'8" 17' 23'

Docks 0 0 0 3

Vacancy Rate At Sale 0% 6.2% 0% 100%

Year Built 1963 1986 1985 2015

Star Rating 1.6

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Sale TrendsNaples Industrial

LOGISTICS SALES

Completed Transactions (1)

Turnover Avg Price/SFDeals VolumeYear

Market Pricing Trends (2)

Avg Price Price IndexAvg Cap Rate Price/SF Cap Rate

2024 -- - -- 184- $129.36 7.6%

2023 -- - -- 181- $127.28 7.6%

2022 -- - -- 178- $124.88 7.5%

2021 -- - -- 176- $123.19 7.3%

2020 -- - -- 169- $118.72 7.3%

YTD $1.4 M5 0.1% $185.63$605,000 161- $113.18 7.3%

2019 $24.4 M29 2.5% $144.93$1,118,180 1607.2% $112.51 7.3%

2018 $15.2 M32 2.7% $138.57$1,003,115 1528.0% $106.49 7.3%

2017 $32.4 M46 5.4% $126.03$1,515,810 1426.8% $99.85 7.3%

2016 $27.6 M38 3.9% $104.55$1,341,593 1317.0% $91.94 7.5%

2015 $24.2 M51 4.2% $89.24$871,411 1217.6% $84.68 7.7%

2014 $14.7 M53 4.2% $75.81$555,995 1109.0% $77.12 8.0%

2013 $20.7 M60 6.1% $58.76$696,110 1028.1% $71.37 8.3%

2012 $15.4 M52 5.0% $57.41$486,200 978.0% $68.05 8.5%

2011 $11.4 M32 4.3% $52.35$571,333 93- $65.31 8.7%

2010 $8.7 M18 2.1% $60.86$614,469 918.9% $63.61 8.9%

2009 $2.4 M8 0.7% $79.79$515,281 89- $62.46 9.2%

(1) Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to sell in the period.

(2) Market price trends data is based on the estimated price movement of all properties in the market, informed by actual transactions that have occurred.

FLEX SALES

Completed Transactions (1)

Turnover Avg Price/SFDeals VolumeYear

Market Pricing Trends (2)

Avg Price Price IndexAvg Cap Rate Price/SF Cap Rate

2024 -- - -- 183- $160.40 7.5%

2023 -- - -- 180- $157.72 7.5%

2022 -- - -- 177- $154.61 7.4%

2021 -- - -- 174- $152.27 7.2%

2020 -- - -- 167- $146.38 7.2%

YTD $5.6 M8 1.5% $248.87$3,325,000 159- $139.22 7.3%

2019 $9.9 M23 5.5% $125.72$1,687,773 1587.0% $138.43 7.2%

2018 $4.1 M9 1.4% $220.97$2,600,000 151- $131.98 7.2%

2017 $7.8 M8 5.1% $110.08$1,713,826 141- $123.65 7.2%

2016 $4.0 M9 2.8% $96.07$1,118,750 130- $113.89 7.4%

2015 $5.4 M14 5.5% $86.80$1,586,923 120- $105.13 7.6%

2014 $34.2 M13 14.8% $156.82$4,688,219 1096.6% $95.67 8.0%

2013 $2.8 M12 3.2% $67.77$659,731 102- $88.94 8.2%

2012 $2.6 M12 3.8% $50.30$456,800 9812.5% $85.81 8.3%

2011 $3.9 M10 4.8% $54.75$700,250 95- $82.94 8.6%

2010 $1.4 M5 1.5% $63.30$378,500 92- $80.27 8.8%

2009 $0.6 M5 0.5% $90.40- 89- $78.07 9.1%

(1) Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to sell in the period.

(2) Market price trends data is based on the estimated price movement of all properties in the market, informed by actual transactions that have occurred.

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