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1510 Mullet Lane
About This Property
This is a site engineered for the serious boater and discerning builder alike. Whether you envision a sportfish yacht, a center console, or a pair of jet skis, the deep-water canal accommodates it all - with ample frontage for a full boat lift, jet ski lift, and a custom dock designed exactly to your specification. Western rear exposure means the pool deck and outdoor living area will be bathed in shade for morning coffee and drenched in the legendary Naples sunset palette every evening.
On 0.22 acres, there is generous room for a thoughtfully designed luxury abode with resort-style outdoor living - the kind of home that Royal Harbor's ongoing transformation has been celebrated for, as grand new custom residences have steadily replaced the neighborhood's original homes. The blank canvas here is rare: no tear-down costs, no demo delays, just a shovel-ready opportunity to build precisely what you've envisioned.
And the location could not be more central to the Naples lifestyle. Fifth Avenue South's boutiques, galleries, and award-winning restaurants are a short bike ride away. The white-sand beaches of the Gulf are just minutes by land or water. Tin City, the Botanical Garden, Cambier Park, and Windstar Country Club are all within easy reach. This is your invitation to claim a great building site in a community where trophy waterfront homes regularly trade above $10 million.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 23, 2026 | Temporarily off market | - | |
| Temporarily off market | |||
| Oct 31, 2025 | Listed by Coldwell Banker Realty | $3,900,000 | |
| Listed by Coldwell Banker Realty | |||
| Oct 27, 2025 | No longer available | - | |
| No longer available | |||
| Nov 17, 2023 | Listed by Coldwell Banker Realty | $4,900,000 | |
| Listed by Coldwell Banker Realty | |||
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One of Naples' most sought-after waterfront communities, Royal Harbor! This spectacular parcel is as close to intersecting canals as you can get, without being one, and is truly only 3 homes to Naples Bay. You could paddle board within 5 minutes to the bay, jet ski, canoe, kayak or even better take you own boat. A super 115 feet of waterfront and seawall grants a new home builder some creative space to design with captivating outdoor space. A blank slate to build the home of your dreams. A waterfront home of your dreams. Drive by and take a look.
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| Nov 10, 2022 | Listed by 5th Homes LLC | $5,000,000 | |
| Listed by 5th Homes LLC | |||
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There are barely any vacant lots left in Royal Harbor, and this is one of them.
Building here could make a boater's dream come through. With your Western Exposure you can enjoy the most gorgeous sunsets - every day. Being at the end of an Cul-De-Sac will with no through traffic gives you the quite and peace you deserve.
Over the past years Royal Harbor developed into the most aspiring neighborhood in Naples.
With this lot you'll get the best of two worlds: You have the advantage of being in "the second row" not directly exposed to the Gulf and yet only minutes away from open waters.
Not to forget about the proximity to everything that makes a stay in Naples desirable and unforgettable: restaurants, shopping and entertainment and it's beaches.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017