A Naples Industrial Complex Near the Airport Just Sold for $26.5 Million — Up 52% From What the Seller Paid in 2024

A Naples industrial property near Naples Airport has sold for $26.5 million, and the price tag reflects something important about where the Naples commercial real estate market stands right now.

Naples Small Bay, an 83,607-square-foot small-bay industrial complex at 4110-4120 Enterprise Avenue, changed hands in a deal announced by Colliers this week. The buyer was Midtown Capital Partners, a Miami-based investment, development, and asset management firm. The seller was VentureOne Real Estate, which paid $17.4 million for the same property in 2024, according to Collier County property records.

That's a 52% increase in value in roughly one year on an industrial property.

Naples Small Bay sits on 5 acres and consists of two concrete buildings containing a total of 48 suites. At the time of sale the property was 82% leased, with six vacant suites, and carried a tenant roster of 30 professional service, contractor, and distribution businesses.

Prior to the sale, VentureOne completed capital improvements, including a thermoplastic polyolefin roof overlay, exterior enhancements, and suite modernizations. The buildings feature 18-foot clear heights, which accommodate the contractor, trades, and light distribution tenants that make up the small-bay industrial user profile.

Colliers represented VentureOne in the transaction. The broker team noted the property's strong occupancy and location near Naples Airport as key drivers of buyer interest.

Small-bay industrial has become one of the most sought-after commercial asset classes in Southwest Florida, and for good reason. It serves a tenant base that Naples has in abundance: contractors, electricians, plumbers, HVAC companies, specialty tradespeople, and small distribution operations that need functional workspace close to the communities they serve.

Naples commercial space is in short supply and frequently sells at a premium to nearby markets. The Enterprise Avenue corridor near Naples Airport sits in one of the most supply-constrained industrial zones in Collier County, accessible, well-located, and with limited competition from new development.

The $26.5 million price on an 82%-leased 83,000-square-foot building works out to approximately $317 per square foot, a valuation that reflects both the scarcity of this type of product in the Naples market and investor confidence in the underlying demand.

The Collier Place office complex we covered earlier this year sold at 81% above its 2019 price. Naples Small Bay moved at 52% above its 2024 price in a single year. The pattern across multiple asset classes is consistent: serious commercial real estate capital continues to find Naples irresistible, and the returns are validating that conviction.

Information sourced from Business Observer, LQ Commercial Real Estate, Colliers press release, and Collier County property records.