Projects
Naples Motor Condos - Race Track Rd.
Project facts
- Status
- Completed
- Address
- 28010 Performance Lane
- City
- Bonita Springs, Florida
- Region
- Southwest Florida
- Submarket
- Naples; Bonita Springs
- Units
- 30
- Amenity tier
- Standard
- Key amenities
- 14'+ Roll-Up Doors, 18'+ Clear Heights, Mezzanine Capabilities, Gated Access & Security, Video Surveillance, Private Yard
- Construction
- Block
- Finish level
- Luxury
- Year built
- 2026
- Flood zone
- AE
Market value summary
- # of Sales (T-36)
- 29
- Avg Sale Price (T-36)
- $548 / SF
- Avg Sale Price (T-36)
- $903,000
- Avg Market Value
- $641 / SF
- Avg Market Value
- $1,027,000
Location Summary
Bonita Springs / Naples; Bonita Springs Overview
28010 Performance Lane sits in the Old US-41 industrial and service pocket of Bonita Springs, a short block south of Bonita Beach Road and west of the Interstate 75 approach, at the northern edge of the Naples; Bonita Springs corridor where Collier gives way to Lee and Estero begins. The street grid here is the practical opposite of coastal Naples: wide turning radii, deep lots, no residential frontage, and direct access to Bonita Beach Road, which reaches Interstate 75 at Exit 116 roughly three miles east and the Gulf beaches roughly five miles west. For an owner towing an enclosed trailer it is the most operationally forgiving address in the corridor, and the only one drawing equally from Naples to the south and Estero and Fort Myers to the north.
The demographic profile is distinct from the Naples trade areas and, for this product, arguably the strongest. Median household income within five miles is $102,686 and 32.1 percent of households clear $150,000, both the highest of the developer's three corridor locations. The trade area is older and more settled at a median age of 61.5, with 61.1 percent of residents aged 55 or older and a 79.9 percent owner-occupancy rate, and it is less dense, with a 5-mile population of 81,339 against roughly 130,000 around the central Naples addresses. Fewer households, but wealthier, older, and overwhelmingly owner-occupants: the retired collector with discretionary capital and time, the least price-sensitive segment of this buyer pool. Florida's property-insurance market has also moved from stabilizing to active relief, with state-backed Citizens filing an 8.7 percent average statewide rate decrease in early 2026 and 18 new private carriers entering since the 2022 to 2023 reforms.
Current Events and Infrastructure
- Elevate Southwest Florida: A $140,000,000 sports and wellness destination spanning nearly 20 acres is under construction on the former Naples-Fort Myers Greyhound Track site on Bonita Beach Road just east of Old 41, less than a mile north of this address, with full completion targeted for 2030. Phase one delivers beach volleyball, pickleball, basketball, and grass sports fields; later phases add an indoor sports complex, fitness studios, trails, and a food park. It is the largest private investment in the immediate submarket and converts the block directly north into a year-round regional destination, resetting traffic counts and land values on Old 41.
- 28411 Race Track Road: A 9,800 square foot industrial building on the same street traded for $2,550,000 in a sale recorded in the April 2026 Southwest Florida transaction report. At roughly $260 per square foot for plain industrial shell on this block, the trade sets a hard floor for local basis and frames the premium that finished, climate-controlled, individually owned suites command.
Key Demand Drivers
Households in this trade area live overwhelmingly in golf, gated, and coach-home communities whose covenants bar visible trailer, boat, and project-car parking, and whose attached garages were built for two cars. The 27.6 percent seasonal-unit share within five miles compounds the problem, because a second-home owner needs somewhere secure and climate-controlled to leave a collection for six months a year.
- Coconut Point: The open-air Simon center in Estero, about six miles north off Interstate 75 Exit 123, carries over 110 stores anchored by Nordstrom Rack, Dillard's, Super Target, Barnes and Noble, and Apple. It is the primary retail and dining destination for the entire Bonita to Estero household base.
- Miromar Outlets: At 10801 Corkscrew Road in Estero, roughly seven miles north, Miromar carries over 120 designer and brand-name stores.
- Hertz Arena: The 7,000-seat venue at 11000 Everblades Parkway in Estero, about eight miles north, is home to the Florida Everblades and has hosted more than 300 different events since opening in 1998. It is the corridor's principal year-round entertainment anchor.
- Saltleaf on Estero Bay marina: London Bay Development Group opened the Saltleaf marina on Coconut Road to the public in June 2026, roughly five miles northwest. Boat and vehicle collecting overlap heavily here, and a new public marina broadens the base of owners already paying to keep recreational assets under cover.
- Mission Grove of Estero: A 163-unit continuum-of-care senior community on a 7-acre site near Three Oaks Parkway and Corkscrew Road, developed by Leo Brown Group, went before the Estero Planning, Zoning and Design Board on July 21, 2026, about seven miles north. Continued absorption of affluent age-qualified housing expands the retired-collector segment that dominates this trade area.
Location Highlights
- MSA Position: The site straddles the Naples to Marco Island and Cape Coral to Fort Myers metropolitan areas, which together counted roughly 1.29 million residents at the July 1, 2025 Census estimate and grew at several times the national rate from 2020 to 2025.
- Enthusiast and Collector Culture: A defunct greyhound racing track directly north is being rebuilt as a $140 million recreation destination, and the surrounding Old 41 corridor remains the submarket's working automotive and marine service district.
- Infrastructure and Recreation: Interstate 75 at Exit 116 roughly three miles east, Gulf beaches roughly five miles west, and a new public marina on Estero Bay five miles northwest.
- Market-Specific Factor: A 79.9 percent owner-occupancy rate and 27.8 percent luxury housing share within five miles describe a settled, high-equity base, and post-hurricane preferences have moved decisively toward inland, elevated, hardened enclosures for high-value cars.
- Tax and Quality of Life: No individual income tax, plus the 8.7 percent Citizens rate decrease and 18 new private carriers noted above.
- High Net Worth Concentration: 3,175 households within three miles earn $200,000 or more, rising to 8,128 within five miles and 15,695 within seven miles as the radius reaches the Bonita and Estero golf communities.
Area Demographics (ACS 2024)
5-Mile Profile: Population 81,339 | Median HH Income $102,686 | HH Earning $150K+ 32.1% | Median Age 61.5 | Age 55+ 61.1% | Seasonal Units 27.6% | Households with 3+ Vehicles 10.5%
Wealth Index: 8.4 / 10 (SCK portfolio-relative)
Unit values
| Unit | Size | Market value | $ / SF |
|---|---|---|---|
| Unit 101 | 2,300 SF | $1,299,000 | $565 / SF |
| Unit 102 | 1,150 SF | $753,000 | $654 / SF |
| Unit 103 | 1,150 SF | $753,000 | $654 / SF |
| Unit 104 | 1,150 SF | $753,000 | $654 / SF |
| Unit 105 | 1,150 SF | $753,000 | $654 / SF |
| Unit 106 | 1,150 SF | $753,000 | $654 / SF |
| Unit 107 | 1,150 SF | $753,000 | $654 / SF |
| Unit 201 | 1,700 SF | $1,102,000 | $648 / SF |
| Unit 202 | 1,700 SF | $1,102,000 | $648 / SF |
| Unit 203 | 1,700 SF | $1,102,000 | $648 / SF |
| Unit 204 | 1,700 SF | $1,102,000 | $648 / SF |
| Unit 205 | 1,700 SF | $1,102,000 | $648 / SF |
| Unit 206 | 1,700 SF | $1,102,000 | $648 / SF |
| Unit 207 | 1,700 SF | $1,102,000 | $648 / SF |
| Unit 208 | 1,700 SF | $1,102,000 | $648 / SF |
| Unit 209 | 1,700 SF | $1,102,000 | $648 / SF |
| Unit 301 | 1,150 SF | $753,000 | $654 / SF |
| Unit 302 | 1,150 SF | $753,000 | $654 / SF |
| Unit 303 | 1,150 SF | $753,000 | $654 / SF |
| Unit 304 | 1,150 SF | $753,000 | $654 / SF |
| Unit 305 | 1,150 SF | $753,000 | $654 / SF |
| Unit 306 | 1,150 SF | $753,000 | $654 / SF |
| Unit 307 | 2,300 SF | $1,299,000 | $565 / SF |
| Unit 401 | 1,700 SF | $1,102,000 | $648 / SF |
| Unit 402 | 1,700 SF | $1,102,000 | $648 / SF |
| Unit 403 | 1,700 SF | $1,102,000 | $648 / SF |
| Unit 404 | 1,700 SF | $1,102,000 | $648 / SF |
| Unit 405 | 1,700 SF | $1,102,000 | $648 / SF |
| Unit 406 | 1,700 SF | $1,102,000 | $648 / SF |
| Unit 407 | 5,100 SF | $2,647,000 | $519 / SF |