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690 Murex Drive
About This Property
From your front door, you are approximately a 10 minute walk to Lowdermilk Park, where you have direct beach access, picnic areas, volleyball courts, and Gulf sunsets year round. You are also just a short bike ride to Fifth Avenue South for dining, shopping, coffee, and events, and close to Third Street South, Cambier Park, and the Naples Beach area. Everything that makes Naples special is right around you.
Coquina Sands is known for being pet friendly and community oriented. The neighborhood dog walking club is active, and you will regularly see small groups gathering in the mornings and evenings along the oak canopy streets. It feels residential and private, yet you are minutes from downtown and the Gulf.
The lot itself is one of the standout features. A true half acre corner homesite offers flexibility, privacy, and presence. Corner lots in this part of Coquina Sands are highly desirable because they allow for creative new construction designs, larger footprints, generous outdoor living space, and strong curb appeal. If you are looking to build your dream home in the heart of Naples, this is the type of property that supports a statement residence.
There is tremendous upside potential here for new construction. Surrounded by luxury new builds and high end remodels, this location supports significant investment. Whether you envision a modern coastal estate with a resort style pool and expansive outdoor entertaining areas, or a classic Old Naples inspired design, the setting and lot size give you room to execute at a high level.
Currently on the property is a charming 3 bedroom, 2 bath home with good bones and character. The existing residence offers flexibility. You can enjoy it as is, renovate and update over time, or use the lot as the foundation for a completely new build. The home sits comfortably on the site, and the corner positioning creates a sense of openness and space.
Opportunities like this in Coquina Sands are limited. A half acre corner lot, walking distance to Lowdermilk Park, bike ride to Fifth Avenue, and surrounded by some of Naples' most desirable streets. Build your vision right here and create something special in one of the most sought after neighborhoods in Southwest Florida.
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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 |
|---|---|---|---|
| Jul 15, 2026 | In contract | - | |
| In contract | |||
| Apr 1, 2026 | Price Decreased |
$4,250,000
↓ $445K
(9.5%) | |
| Price Decreased | |||
| Feb 17, 2026 | Listed by The Gebelhoff Group Of CO. | $4,695,000 | |
| Listed by The Gebelhoff Group Of CO. | |||
| Feb 4, 2026 | Temporarily off market | - | |
| Temporarily off market | |||
| Jan 20, 2026 | Price Decreased |
$5,500,000
↓ $1M
(15.4%) | |
| 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