Waterfront Income Property
For Sale
$494,900
1227 Mangrove Ln, Chokoloskee, FL 34138
Income-generating property near the ocean with marina views.
Property Size2,880 SF
Lot Size0.23 Acres
Days on Market267
Property Features for 1227 Mangrove Ln
General Information
Standard status
Active
Size
2,880 SF
Lot size
0.23 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$6,182
Building Details
Building Size
2,880 SF
Year Built
2007
Units
2
Listing Agency:
Realty One Group MVP
(305) 282-6355
Listed By:
Paula King, PA
(305) 282-6355
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 16
Last Checked: Aug 21 at 8:00AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty One Group MVP
Investment Insights
Based on property information with market context.
This income-generating property is located steps away from the ocean, offering views of the marina and a serene island. Situated in a waterfront neighborhood, the property is positioned to capitalize on seasonal tourist traffic and offers year-round rental potential. The property is suited for renting out individual units, hosting short-term vacation rentals, or creating a luxury boutique retreat.
Key Highlights
- Prime waterfront location steps from the ocean with marina and island views.
- Income‑generating property with high rental potential.
- Located in a sought‑after waterfront neighborhood.
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
$39,102
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
7.90%
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%
$782,040
$782.0K
Cap Rate 7%
$558,600
$558.6K
Cap Rate 9%
$434,467
$434.5K
Market Conditions
NOI Build-Up for 2,880 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
$75.0K $26.04/SF
− Vacancy
−$3.9K −$1.35/SF
EGI
$71.1K $24.69/SF
− OpEx
−$32.0K −$11.11/SF
NOI
$39.1K $13.58/SF
Area
Collier County, FL
Vacancy
5.20%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
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%
$782,040
Cap Rate 7%
$558,600
Cap Rate 9%
$434,467
Alternative Uses
Best Use
Apartment 5plus
$558.6K
$488.8K – $651.7K
NOI $39,102 @ 7.0% cap · market cap 7.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,911 @ 7.0% cap · market cap 16.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Explore this area
Business Placement
Demographics for 34138, FL
346
Population
590
Households
0.6
Avg Household Size
60
Median Age
100%
High-School Grad
0.3 sq mi
ZIP Area
1,153
Density / Sq Mi
$95,712
Median Household Income
$48,576
Median Earnings
$220,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Short term rental property - Income-generating property near the ocean with marina views.
Where is this short term rental property located?
The property is located at 1227 Mangrove Ln Chokoloskee, FL.
What is the asking price?
The asking price for this property is $494,900.
What are key features of this property?
This property features: Prime waterfront location steps from the ocean with marina and island views.; Income‑generating property with high rental potential.; Located in a sought‑after waterfront neighborhood.
