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618 99th Avenue N
About This Property
Discover a rare triple-lot opportunity in the 600 block of Naples Park, one of North Naples' most desirable and flexible residential communities. This oversized 0.46 +/- acre parcel, 150 feet wide with no HOA, offers exceptional development potential - ideal for a custom single-family home, duplex, or multi-family project.
The lot is currently zoned for a duplex on one side and single-family on the other, and can also be configured as two oversized 75-ft lots for two single-family residences.
Located west of US 41, the property sits just minutes from Vanderbilt Beach, Delnor-Wiggins Pass State Park, and the vibrant dining, shopping, and entertainment options at Mercato and Whole Foods, along with nearby coastal hot spots. The existing buildings on the property are currently rented on a month-to-month basis, generating approximately $6,000 in monthly rental income. The property is being offered for sale based on lot value, providing an excellent opportunity for a buyer to hold the existing income-producing improvements while developing plans for a future project. The buyer may keep the current tenants in place until ready to move forward with building plans and site development.
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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 8, 2026 | Listed by Premiere Plus Realty Company | $1,800,000 | |
| Listed by Premiere Plus Realty Company | |||
| Feb 1, 2005 | Sold | ||
| Sold | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017