Residential Income Property with
For Sale
$489,000
15162 Majorca Bay Dr, Naples, FL 34110
Residential, Duplex, End-Unit, Multi-Story Home, NAPLES, FL
Property Size2,050 SF
Price / SF$238.54
Days on Market298
Property Features for 15162 Majorca Bay Dr
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 3, Bathroom 2, Den, Laundry Room, Bedroom 2, Bathroom 3, Bedroom 1
Parking
2
Parking features
Driveway
Window features
Window Coverings
Patio and Porch features
Porch
Interior features
Pantry, Vaulted Ceiling(s), Walk-In Closet(s), Window Coverings
Exterior features
Screened Lanai/Porch
Appliances
Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator/Freezer, Washer
Subdivision
SEA PINES
Lot features
Cul-De-Sac, Regular, Cul-De-Sac, Regular
Standard status
Active
APN
72705000621
Size
2,050 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
SEA PINES II AT BAY FOREST A CONDOMINIUM UNIT 6
Tax Annual Amount
3475
HOA Fee
$10,000 Annually
Legal Description
SEA PINES II AT BAY FOREST A CONDOMINIUM UNIT 6
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Amenities
pool
grill
bar
cabana
paved trails
boardwalk
tiki hut
paddle-sport launch
fitness center
library
pickleball courts
tennis courts
bocce courts
lanai
screened garden area
Building Details
Year built
1990
Floors in Building
2
Number of units
2
Flooring type
Carpet, Tile, Vinyl
Building materials
Concrete Block, Stucco
Roof type
Tile
Architectural style
Other
Listing Agency:
Realty One Group MVP
(800) 896-8790
Listed By:
Marta VanderStarre
(305) 731-6403
Added: Nov 9, 2025
Changed: Aug 24
Last Checked: Sep 3 at 10:06PM
MLS# 225072220
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 2,050-square-foot attached villa includes three bedrooms, three bathrooms, two primary suites, and a den that can function as an office or additional living area. The main living spaces include a great room, dining area, kitchen with room for a dinette, and laundry room. A private screened lanai provides covered outdoor space, while the attached garage accommodates two vehicles. Interior features include vaulted ceilings, walk-in closets, tile and vinyl flooring, and central electric heating and cooling. The home was built in 1990 and has concrete block and stucco construction with a tile roof.
The property is located at 15162 Majorca Bay Dr in Naples, Florida. Community amenities include a pool with lakeside cabana facilities, more than 2 miles of paved trails, a preserve boardwalk leading to the back bay, a fishing pier, paddle-sport launch, fitness center, library, and pickleball, tennis, and bocce courts. The home also has direct trail access within Sea Pines II.
The property is located at 15162 Majorca Bay Dr in Naples, Florida. Community amenities include a pool with lakeside cabana facilities, more than 2 miles of paved trails, a preserve boardwalk leading to the back bay, a fishing pier, paddle-sport launch, fitness center, library, and pickleball, tennis, and bocce courts. The home also has direct trail access within Sea Pines II.
Key Highlights
- 2,050 square feet with 3 bedrooms and 3 bathrooms
- Two primary suites, including one on the main floor and one upstairs
- Private screened lanai with covered patio area
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
$27,833
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
5.69%
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%
$556,660
$556.7K
Cap Rate 7%
$397,614
$397.6K
Cap Rate 9%
$309,256
$309.3K
Market Conditions
NOI Build-Up for 2,050 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
$53.4K $26.04/SF
− Vacancy
−$2.8K −$1.35/SF
EGI
$50.6K $24.69/SF
− OpEx
−$22.8K −$11.11/SF
NOI
$27.8K $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%
$556,660
Cap Rate 7%
$397,614
Cap Rate 9%
$309,256
Alternative Uses
Best Use
Apartment 5plus
$397.6K
$347.9K – $463.9K
NOI $27,833 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$822.8K
$719.9K – $959.9K
NOI $57,593 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 34110, FL
24,093
Population
18,394
Households
1.3
Avg Household Size
63
Median Age
52%
College-Educated
96%
High-School Grad
16.0 sq mi
ZIP Area
1,506
Density / Sq Mi
$95,275
Median Household Income
$58,470
Median Earnings
$2,068
Median Rent
$529,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Attached villa with two primary suites, a flexible den, screened outdoor space, and an attached two-car garage.
Where is this residential income property located?
The property is located at 15162 Majorca Bay Dr Naples, FL.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: 2,050 square feet with 3 bedrooms and 3 bathrooms; Two primary suites, including one on the main floor and one upstairs; Private screened lanai with covered patio area
