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    Remodeled Villa Condos in Naples Title is generated by Realmo AI

    161 Santa Clara Drive, Naples, FL 34104

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    For Sale
    $12,000,000

    MULTI_FAMILY - Naples, FL

    Added:
    Aug 18, 2025
    Days on Market:
    286
    Last Refresh:
    May 30 at 10:06 pm

    Property Features for 161 Santa Clara Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    46573002764

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    GRANADA LAKES VILLAS CONDOMINIUM BLDG (See Parcel List with Legal Descriptions PDF)
    Tax Annual Amount
    88023

    Building Details

    Year built
    1987

    We can help!

    Listing Contact
    Vincent Rigoni

    Listing agent Vincent Rigoni License #249519444

    Listing office Premiere Plus Realty Company 5237 Summerlin Commons Blvd, Naples, FL

    Listing date Aug 18, 2025

    MLS# 2025006188

    Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Portfolio of 57 remodeled villa condos in a gated community in Naples, Florida.
    • Modern upgrades including new flooring, paint, stainless steel appliances, shaker cabinets, and granite countertops.
    • Enjoy resort‑style amenities: two pools, spa, fitness center, tennis courts, clubhouse, and playground.
    • Recent property‑wide improvements: new roofs, exterior paint, resurfaced parking, upgraded clubhouse, refurbished pool/fitness room, and updated playground.
    • Each unit features a private screened lanai.
    • Convenient location: close to I‑75, shopping, dining, and approximately 7 miles from Naples beaches and 5th Avenue.

    Overview

    This investment opportunity features 57 remodeled villa condos located within a 248-unit gated community in Naples, Florida. The available units include a mix of one-bedroom, two-bedroom, and two-bedroom plus den residences, all remodeled in recent years. Many units have been completed recently. Each unit features modern upgrades, including new tile flooring, fresh three-tone paint, stainless steel appliances, custom shaker cabinets, and granite countertops. Every condo also includes a private screened lanai. The community provides a serene environment with lakes and open green spaces, as well as resort-style amenities. Residents have access to two pools, a spa, a fitness center, tennis courts, a clubhouse, and a playground. Property-wide improvements include new roofs, fresh exterior paint, resurfaced parking, an upgraded clubhouse, a refurbished pool and fitness room, and updated playground equipment. The property is located in Naples, with access to I-75, shopping and dining, and is approximately 7 miles from Naples' beaches and 5th Avenue.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Naples
    County
    Collier
    State
    Florida
    Longitude
    -81.717444
    Latitude
    26.150322

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    FAQs

    What type of property is this?
    Apartment building - 57 remodeled condos in a gated Naples community with amenities.
    Where is this apartment building located?
    The property is located at 161 Santa Clara Drive Naples, FL.
    What is the asking price?
    The asking price for this property is $12,000,000.
    What are key features of this property?
    This property features: Portfolio of 57 remodeled villa condos in a gated community in Naples, Florida.; Modern upgrades including new flooring, paint, stainless steel appliances, shaker cabinets, and granite countertops.; Enjoy resort‑style amenities: two pools, spa, fitness center, tennis courts, clubhouse, and playground.
    (239) 273-9388
    We can help!
    Listing Contact
    Vincent Rigoni
    Real Estate License ID: 249519444
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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