Four-Unit
For Sale
$1,200,000
2084 Monroe Ave, Naples, FL 34112
MULTI_FAMILY - Ranch - NAPLES, FL
Property Size3,200 SF
Lot Size0.33 Acres
Price / SF$375
Days on Market221
Property Features for 2084 Monroe Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RE9
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 6, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 7, Bedroom 5, Bathroom 3
Pets allowed
Yes
Subdivision
INOMAH
Lot features
Corner Lot, Oversize, Corner Lot, Oversize
Standard status
Active
APN
51691880002
Size
3,200 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
INOMAH BLK F LOTS 1 + 2
Tax Annual Amount
7307
Legal Description
INOMAH BLK F LOTS 1 + 2
Utilities
Cooling system
Central Air, Ceiling Fan(s), Electric, Zoned
Building Details
Year built
1987
Number of units
4
Flooring type
Laminate
Building materials
Concrete Block, Metal Frame, Wood Frame, Stucco
Roof type
Metal, Built-Up, Shingle
Architectural style
Ranch
Listing Agency:
Berkshire Hathaway FL Realty
(239) 659-2400
Listed By:
Rick Fioretti · License #NAPLES-463502976
(239) 370-3200
Added: Jan 8
Changed: Aug 13
Last Checked: Aug 17 at 12:06AM
MLS# 226001189
Copyright © 2026 Naples Area Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,200-square-foot quadplex contains four residences: three two-bedroom units and one one-bedroom unit. The ranch-style property was built in 1987 and includes laminate flooring, central air, electric cooling, zoned cooling, and ceiling fans. Construction materials include concrete block, metal frame, wood frame, and stucco, with a combination of metal, built-up, and shingle roofing.
The property occupies 0.33 acres at 2084 Monroe Ave in Naples, Florida, near downtown Naples and the beach. It carries RE9 zoning, and all leases are annual in nature. The existing structure was expanded over multiple stages to reach its current configuration.
The property occupies 0.33 acres at 2084 Monroe Ave in Naples, Florida, near downtown Naples and the beach. It carries RE9 zoning, and all leases are annual in nature. The existing structure was expanded over multiple stages to reach its current configuration.
Key Highlights
- Four‑unit property with three two‑bedroom residences and one one‑bedroom residence
- 3,200 square feet on a 0.33‑acre lot
- Annual leases across all units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$47,271
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$945,420
$945.4K
Cap Rate 7%
$675,300
$675.3K
Cap Rate 9%
$525,233
$525.2K
Market Conditions
NOI Build-Up for 3,200 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$71.0K $22.20/SF
− Vacancy
−$3.5K −$1.10/SF
EGI
$67.5K $21.10/SF
− OpEx
−$20.3K −$6.33/SF
NOI
$47.3K $14.77/SF
Area
Collier County, FL
Vacancy
4.94%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$945,420
Cap Rate 7%
$675,300
Cap Rate 9%
$525,233
Alternative Uses
Best Use
Multifamily LT 5
$675.3K
$590.9K – $787.9K
NOI $47,271 @ 7.0% cap · market cap 3.94%
Second Best
Apartment 5plus
$620.7K
$543.1K – $724.1K
NOI $43,447 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,901 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,056
Businesses Nearby
Explore this area
Business Placement
Demographics for 34112, FL
26,625
Population
20,626
Households
1.3
Avg Household Size
60
Median Age
35%
College-Educated
91%
High-School Grad
14.8 sq mi
ZIP Area
1,799
Density / Sq Mi
$68,838
Median Household Income
$34,300
Median Earnings
$1,529
Median Rent
$293,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residences offer a mix of two- and one-bedroom layouts with annual leases in place.
Where is this quadplex located?
The property is located at 2084 Monroe Ave Naples, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Four‑unit property with three two‑bedroom residences and one one‑bedroom residence; 3,200 square feet on a 0.33‑acre lot; Annual leases across all units
