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    Luxurious Naples Duplex Investment Opportunity Title is generated by Realmo AI

    1147 Steeves Ave, Naples, FL 34104

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    Pending
    $1,800,000

    MULTI_FAMILY - Other - NAPLES, FL

    Type:Duplex
    Property size:
    3,778 SF
    Lot size:
    0.32 Acres
    Added:
    Apr 1, 2026
    Days on Market:
    47
    Last Refresh:
    May 17 at 11:06 pm

    Property Features for 1147 Steeves Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Zoning
    RMF-6
    Bedrooms
    8
    Bathrooms
    6
    Rooms
    Bedroom 6, Bedroom 5, Bedroom 3, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 2, Bedroom 4, Bathroom 6, Bedroom 7, Bedroom 8, Bathroom 1, Bedroom 1, Bathroom 2
    Patio and Porch features
    Deck
    Pets allowed
    Yes
    Fencing
    Fenced
    Standard status
    Pending
    APN
    70870720003
    Size
    3,778 SF
    Lot size
    0.32 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    10855

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Ceiling Fan(s), Electric, Central Air

    Building Details

    Year built
    2023
    Floors in Building
    2
    Number of units
    4
    Flooring type
    Vinyl, Carpet
    Building materials
    Concrete Block, Stucco
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Nick Solimene

    Listing agent Nick Solimene License #NAPLES-249527959

    Listing office William Raveis Real Estate 720 5th Avenue Suite 201, Naples, FL

    Listing date Apr 1, 2026

    MLS# 226013820 Listing URL

    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.

    HighLights

    • Exceptional investment opportunity with no HOA fees or restrictions.
    • Newly built (2023) duplex with premium materials and a metal roof for minimal maintenance.
    • Located near 5th Avenue and the beaches of Naples.
    • Expansive 8‑bedroom, 6‑bath design with two gourmet kitchens and two double‑car garages.
    • Potential to add a pool on each side or an additional structure with two one‑bedroom apartments.
    • Ability to convert the property into two distinct condominium units.

    Overview

    This 8-bedroom, 6-bath duplex in Naples, Florida, presents an investment opportunity with no HOA fees or restrictions. Located near 5th Avenue and the beaches, the property features an expansive design with two gourmet kitchens, two kitchenettes, and two double-car garages. The design allows for dividing the two units into four. Constructed above flood-risk elevation, the newly built property uses premium materials and a metal roof. The 0.32-acre lot offers the ability to add a pool on each side or an additional structure at the rear, consisting of two one-bedroom apartments. The 3,778 square-foot property can be converted into two distinct condominium units, offering the option to sell each side individually.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Naples
    County
    Collier
    State
    Florida
    Longitude
    -81.7685104
    Latitude
    26.1427612

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    FAQs

    What type of property is this?
    Duplex - 8-bedroom, 6-bath duplex near 5th Avenue and Naples beaches.
    Where is this duplex located?
    The property is located at 1147 Steeves Ave Naples, FL.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: Exceptional investment opportunity with no HOA fees or restrictions.; Newly built (2023) duplex with premium materials and a metal roof for minimal maintenance.; Located near 5th Avenue and the beaches of Naples.
    (239) 682-7084
    We can help!
    Listing Contact
    Nick Solimene
    Real Estate License ID: NAPLES-249527959
    Learn More
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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.

    More about this property
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