New Construction Duplex with In-Law
For Sale
$529,900
Pending
2685 38th Ave SE, Naples, FL 34117
Residential, Duplex, Florida, NAPLES, FL
Property Size1,956 SF
Lot Size1.14 Acres
Days on Market119
Property Features for 2685 38th Ave SE
General Information
Property type
Residential
Property subtype
Duplex
Property condition
Under Construction
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 3, Den, Bedroom 4, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2
Patio and Porch features
Patio
Pets allowed
Yes
Interior features
Built-In Cabinets, Closet Cabinets, French Doors, Smoke Detectors, Tray Ceiling(s)
Exterior features
Outdoor Kitchen
Appliances
Electric Cooktop
Subdivision
GOLDEN GATE ESTATES
Lot features
Regular, Regular
Standard status
Pending
APN
41711360001
Size
1,956 SF
Lot size
1.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
GOLDEN GATE EST UNIT 78 E 75FT OF W 150FT OF TR 42
Tax Annual Amount
574
Legal Description
GOLDEN GATE EST UNIT 78 E 75FT OF W 150FT OF TR 42
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Well
Building Details
Year built
2025
Floors in Building
1
Flooring type
Tile
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Other
Additional Structures
Outdoor Kitchen
Listing Agency:
Premiere Plus Realty Company
(239) 732-7837
Listed By:
Yulian Gonzalez · License #NAPLES-249525426
(239) 682-6657
Added: May 7
Changed: Sep 2
Last Checked: Sep 2 at 5:06AM
MLS# 226018787
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 under-construction duplex in Naples provides 1,956 square feet of living area on a 1.14-acre parcel. The residence includes four bedrooms, three bathrooms, a den, and a separate in-law suite with its own entrance. Tile flooring, tray ceilings, built-in cabinetry, French doors, custom closet systems, and a designer kitchen contribute to the interior specification. An outdoor kitchen and patio extend the available living space.
The property is identified as 100% uplands and offers vehicle access to the rear of the parcel. That access supports the potential for a workshop, detached garage, additional structures, or storage, subject to applicable approvals. The home uses central electric heating and cooling, a well, septic tank, concrete block and stucco construction, and a shingle roof. Located in Golden Gate Estates, the property is near schools, shopping, dining, and Naples beaches.
The property is identified as 100% uplands and offers vehicle access to the rear of the parcel. That access supports the potential for a workshop, detached garage, additional structures, or storage, subject to applicable approvals. The home uses central electric heating and cooling, a well, septic tank, concrete block and stucco construction, and a shingle roof. Located in Golden Gate Estates, the property is near schools, shopping, dining, and Naples beaches.
Key Highlights
- 1.14‑acre 100% uplands parcel in Golden Gate Estates
- 1,956 square feet with 4 bedrooms, 3 bathrooms, and a den
- Private‑entry in‑law suite supports guest or multigenerational use
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
$28,895
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
5.45%
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%
$577,900
$577.9K
Cap Rate 7%
$412,786
$412.8K
Cap Rate 9%
$321,056
$321.1K
Market Conditions
NOI Build-Up for 1,956 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
$43.4K $22.20/SF
− Vacancy
−$2.1K −$1.10/SF
EGI
$41.3K $21.10/SF
− OpEx
−$12.4K −$6.33/SF
NOI
$28.9K $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%
$577,900
Cap Rate 7%
$412,786
Cap Rate 9%
$321,056
Alternative Uses
Best Use
Multifamily LT 5
$412.8K
$361.2K – $481.6K
NOI $28,895 @ 7.0% cap · market cap 5.45%
Second Best
Apartment 5plus
$379.4K
$332.0K – $442.6K
NOI $26,557 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$785.0K
$686.9K – $915.9K
NOI $54,952 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Explore this area
Business Placement
Demographics for 34117, FL
16,408
Population
5,796
Households
2.8
Avg Household Size
41
Median Age
20%
College-Educated
89%
High-School Grad
137.4 sq mi
ZIP Area
119
Density / Sq Mi
$106,155
Median Household Income
$48,466
Median Earnings
$1,771
Median Rent
$416,300
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?
Duplex - Under-construction duplex with a private-entry in-law suite and premium interior finishes.
Where is this duplex located?
The property is located at 2685 38th Ave SE Naples, FL.
What is the asking price?
The asking price for this property is $529,900.
What are key features of this property?
This property features: 1.14‑acre 100% uplands parcel in Golden Gate Estates; 1,956 square feet with 4 bedrooms, 3 bathrooms, and a den; Private‑entry in‑law suite supports guest or multigenerational use
