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388 Pine Avenue
About This Property
Built for both sophistication and peace of mind, this elevated all-block construction home sits 11ft+ elevation (as per elevation certificate) and features all impact-rated windows and doors, a new 99-foot seawall, new dock with jet ski lifts, whole-home Generac generator, home automation, Kinetico whole home water filtration system, sunset lanai, outdoor shower and a resort-style saltwater pool and spa.
Designed to maximize waterfront living, walls of floor-to-ceiling corner-pocket sliders create a seamless indoor-outdoor lifestyle filled with natural light and stunning water views. The expansive grand room features a striking fireplace and elegant gathering spaces, while the chef's kitchen showcases custom cabinetry, quartz countertops, gas cooktop, and an oversized island ideal for entertaining.
The thoughtfully designed floor plan includes 4 spacious bedrooms, 5.5 baths. including a pool bath, a private office or flex room on the first floor with adjacent full bath, and an additional second floor family room. Every space is finished with refined coastal elegance and designed for comfortable luxury living.
Outdoor living is equally impressive with expansive waterfront terraces, an outdoor kitchen and dining area, multiple lounge spaces, fully fenced yard, and a sunset deck capturing forever bay views. Enjoy direct boating access through Vanderbilt Bay and Wiggins Pass to the Gulf, watch dolphins swim by, fish from your dock, or head out for waterfront dining, a sunset cruise or a day on the boat or jet skis.
Whether hosting guests or enjoying peaceful mornings by the water, this home delivers the quintessential Naples waterfront lifestyle. Located just minutes from Mercato, Pelican Bay Community Park with new pickleball courts, The Ritz-Carlton Beach Resort, La Playa Beach Resort, Waterside shops, Mercato and nearby private beach clubs that you can join including the newly approved Paraiso Beach Club, this extraordinary residence blends luxury, convenience, and the very best of coastal living.
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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 |
|---|---|---|---|
| Sep 15, 2026 | In contract | - | |
| In contract | |||
| Sep 6, 2026 | Price Decreased |
$3,945,000
↓ $230K
(5.5%) | |
| Price Decreased | |||
| May 4, 2026 | Listed by Compass Florida LLC | $4,175,000 | |
| Listed by Compass Florida LLC | |||
| May 1, 2026 | No longer available | - | |
| No longer available | |||
| Mar 18, 2026 | Withdrawn | - | |
| Withdrawn | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017