Tile-Floored
For Sale
$699,000
Pending
2642 Santa Barbara Blvd, Naples, FL 34116
Residential Income, Multi-Story Home, NAPLES, FL
Property Size2,700 SF
Lot Size0.34 Acres
Days on Market89
Property Features for 2642 Santa Barbara Blvd
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Residential Income
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Bedroom 6, Bathroom 3, Bedroom 5, Bathroom 4, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 3
Patio and Porch features
Patio
Subdivision
GOLDEN GATE CITY
Lot features
Regular, Regular
Standard status
Pending
APN
36325120008
Size
2,700 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
GOLDEN GATE UNIT 6 BLK 226 LOT 6
Tax Annual Amount
4839
Legal Description
GOLDEN GATE UNIT 6 BLK 226 LOT 6
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Well
Building Details
Year built
1982
Number of units
3
Flooring type
Tile
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Premiere Plus Realty Company
(239) 732-7837
Listed By:
Sandra Carano · License #NAPLES-249520695
(239) 200-0531
Added: Jun 2
Changed: Aug 19
Last Checked: Aug 29 at 10:06PM
MLS# 226021617
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 2,700-square-foot triplex, built in 1982, contains two corner residences with two bedrooms and one bathroom each, plus a two-bedroom, two-bath unit. All three units feature tile flooring, an open lanai, and loft storage. The building uses concrete block and stucco construction with central electric heating and central air conditioning.
Set on 0.34 acres at 2642 Santa Barbara Blvd in Naples, the property is near shopping, dining, major roadways, East Naples, North Naples, and Downtown Naples. Most windows were replaced in 2010, hurricane panels cover all windows, and the shingle roof was replaced in 2012. The property is served by a well and septic tank and is zoned Residential Income.
Set on 0.34 acres at 2642 Santa Barbara Blvd in Naples, the property is near shopping, dining, major roadways, East Naples, North Naples, and Downtown Naples. Most windows were replaced in 2010, hurricane panels cover all windows, and the shingle roof was replaced in 2012. The property is served by a well and septic tank and is zoned Residential Income.
Key Highlights
- Triplex totaling 2,700 square feet on 0.34 acres
- Unit mix includes two 2‑bedroom, 1‑bath units and one 2‑bedroom, 2‑bath unit
- Each residence includes tile flooring, an open lanai, and loft storage
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
$39,885
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
5.71%
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%
$797,700
$797.7K
Cap Rate 7%
$569,786
$569.8K
Cap Rate 9%
$443,167
$443.2K
Market Conditions
NOI Build-Up for 2,700 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
$59.9K $22.20/SF
− Vacancy
−$3.0K −$1.10/SF
EGI
$57.0K $21.10/SF
− OpEx
−$17.1K −$6.33/SF
NOI
$39.9K $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%
$797,700
Cap Rate 7%
$569,786
Cap Rate 9%
$443,167
Alternative Uses
Best Use
Multifamily LT 5
$569.8K
$498.6K – $664.8K
NOI $39,885 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$523.7K
$458.2K – $611.0K
NOI $36,659 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$1.08M
$948.2K – $1.26M
NOI $75,854 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
615
Businesses Nearby
Explore this area
Business Placement
Demographics for 34116, FL
31,538
Population
11,081
Households
2.8
Avg Household Size
37
Median Age
17%
College-Educated
81%
High-School Grad
9.3 sq mi
ZIP Area
3,391
Density / Sq Mi
$69,204
Median Household Income
$35,573
Median Earnings
$1,663
Median Rent
$392,700
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?
Triplex - Three-unit residential income property with varied bath configurations, private lanais, and loft storage in each residence.
Where is this triplex located?
The property is located at 2642 Santa Barbara Blvd Naples, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Triplex totaling 2,700 square feet on 0.34 acres; Unit mix includes two 2‑bedroom, 1‑bath units and one 2‑bedroom, 2‑bath unit; Each residence includes tile flooring, an open lanai, and loft storage
