216 Spring Line Drive
About This Property
Enjoy scenic western water views and an exceptional outdoor lifestyle with a lighted wrap-around walkway, 16,000 lb. boat lift, and quick, direct access to the Gulf of Mexico-just minutes away by boat. Enter through wrought-iron gates to a paved circular driveway and 3-car garage. Double doors lead into an elegant foyer flowing into sophisticated living and dining rooms. The superb island kitchen is appointed with Taj Mahal Quartzite countertops, brand-new Cafe appliances, a wet bar, dining buffet, and modern soft-close wood cabinetry. Luxurious finishes continue throughout: the master and guest baths feature Cristallo Quartzite, while the family bath highlights stunning Agate precious stone. Additional upscale amenities include COREtec luxury vinyl flooring, a Lumitron lighting system, tray ceilings, crown molding, and impact-resistant windows throughout. Private membership to the Moorings Beach Club is available, and with quick access to the world-class dining and boutique shopping of 5th Ave. S-plus the beach less than a mile away-you'll experience the best of Naples living at your doorstep.
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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 |
|---|---|---|---|
| Nov 25, 2025 | Listed by William Raveis Real Estate | $7,995,000 | |
| Listed by William Raveis Real Estate | |||
| Sep 3, 2025 | Temporarily off market | - | |
| Temporarily off market | |||
| Apr 15, 2025 | Price Decreased |
$7,995,000
↓ $630K
(7.3%) | |
| Price Decreased | |||
| Mar 31, 2025 | Price Decreased |
$8,625,000
↓ $325K
(3.6%) | |
| Price Decreased | |||
| Jan 29, 2025 | Price Decreased |
$8,950,000
↓ $575K
(6%) | |
| Price Decreased | |||
Property Highlights
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About Naples
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017