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    Waterfront Homesite in Royal Harbor Title is generated by Realmo AI

    1510 Mullet Ln lot 9, Naples, FL 34102

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    Claim this Listing
    For Sale
    $3,900,000

    LAND - NAPLES, FL

    Lot size:
    0.22 Acres
    Added:
    Oct 31, 2025
    Days on Market:
    217
    Last Refresh:
    Jun 4 at 12:06 pm

    Property Features for 1510 Mullet Ln lot 9

    General Information

    Property type
    Land
    Property subtype
    Other
    Vegetation
    Cleared, Grassed
    Standard status
    Active
    APN
    18311160003
    Lot size
    0.22 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    ROYAL HARBOR UNIT 1 BLK 3 LOT 9
    Tax Annual Amount
    15167

    Utilities

    Water front features
    Seawall
    Water front
    1

    We can help!

    Listing Contact
    D'Layne Graney
    D'Layne Graney

    Listing agent D'Layne Graney License #NAPLES-249525634

    Listing office Coldwell Banker Realty 550 5th Avenue S, Naples, FL

    Listing date Oct 31, 2025

    MLS# 225077421 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

    • Direct, bridge‑free access to Naples Bay and the Gulf of Mexico, ideal for boating enthusiasts.
    • 115 feet of water frontage on intersecting waterways at the end of a quiet cul‑de‑sac.
    • Shovel‑ready homesite with no tear‑down costs or demo delays, ready for immediate construction.
    • Western rear exposure provides shaded mornings and sunset views.
    • Located in Royal Harbor, a sought‑after boating community with trophy waterfront homes.
    • Close proximity to Fifth Avenue South, beaches, and other Naples attractions.

    Overview

    Located in Royal Harbor, a boating community in Naples, Florida, the property at 1510 Mullet Court offers a waterfront homesite at the end of a quiet cul-de-sac. The site features 115 feet of water frontage and direct, bridge-free access to Naples Bay, Gordon Pass, and the Gulf of Mexico. The deep-water canal can accommodate a sportfish yacht, a center console, or a pair of jet skis, with frontage for a full boat lift, jet ski lift, and a custom dock. The property has western rear exposure. Situated on 0.22 acres, there is room for a luxury home with outdoor living. The location is near Fifth Avenue South's boutiques, galleries, and restaurants, and the beaches of the Gulf. Tin City, the Botanical Garden, Cambier Park, and Windstar Country Club are also within reach. The property presents a shovel-ready opportunity to build a custom home.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Naples
    County
    Collier
    State
    Florida
    Longitude
    -81.785461
    Latitude
    26.130295

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    FAQs

    What type of property is this?
    Waterfront Land - Prime waterfront land with Gulf access in Naples, Florida.
    Where is this waterfront land located?
    The property is located at 1510 Mullet Ln lot 9 Naples, FL.
    What is the asking price?
    The asking price for this property is $3,900,000.
    What are key features of this property?
    This property features: Direct, bridge‑free access to Naples Bay and the Gulf of Mexico, ideal for boating enthusiasts.; 115 feet of water frontage on intersecting waterways at the end of a quiet cul‑de‑sac.; Shovel‑ready homesite with no tear‑down costs or demo delays, ready for immediate construction.
    (239) 778-6910
    We can help!
    Listing Contact
    D'Layne Graney
    D'Layne Graney
    Real Estate License ID: NAPLES-249525634
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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.

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