Lake-View End Unit
For Sale
$414,900
15222 Cortona Way, Naples, FL 34120
Residential, 1 Story/Ranch, Duplex, NAPLES, FL
Property Size1,455 SF
Price / SF$285.15
Days on Market66
Property Features for 15222 Cortona Way
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Den, Bathroom 1, Bedroom 1, Bathroom 2, Laundry Room, Bedroom 2
Parking
2
Parking features
Driveway
Patio and Porch features
Porch
Interior features
Bar, Built-In Cabinets, Foyer, French Doors, Pantry, Vaulted Ceiling(s), Walk-In Closet(s)
Exterior features
Screened Lanai/Porch, Tennis Court(s)
Appliances
Electric Cooktop, Dryer, Microwave, Refrigerator/Freezer, Refrigerator/Icemaker, Self Cleaning Oven, Washer
Subdivision
TUSCANY COVE
Lot features
Regular, Regular
View
Water, Lake
Standard status
Active
APN
78532902187
Size
1,455 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
TUSCANY COVE BLK C LOT 282
Tax Annual Amount
2495
HOA Fee
$5,296 Annually
Legal Description
TUSCANY COVE BLK C LOT 282
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water front features
Lake
Water front
1
Building Details
Year built
2006
Floors in Building
1
Number of units
1
Flooring type
Carpet, Laminate, Tile
Building materials
Concrete Block, Stucco
Roof type
Tile
Architectural style
Ranch
Listing Agency:
Downing Frye Realty Inc.
(239) 261-2244
Listed By:
Mike Sutkus, PA
(239) 450-6206
Added: Jul 22
Changed: Sep 14
Last Checked: Sep 25 at 12:06AM
MLS# 226026908
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.
Wake to a wide lake view from this three-bedroom, two-bath end unit villa located in Tuscany Cove, a gated resort community in North Naples. The bright, open plan features vaulted ceilings and flows from the great room and dining area to a large screened lanai over the water, with the lanai positioned to the north. The kitchen includes wood cabinetry, a full stainless appliance suite, a breakfast bar, pantry, and a built-in desk.
The master suite faces the lake and offers a walk-in closet and a dual-sink bath with a glass walk-in shower. Two additional bedrooms and a full guest bath are set apart for privacy, along with a separate flex room that can serve as an office or den. Tile runs through the living areas, and the bedrooms have wood finishes. In-residence laundry and a two-car garage complete the home.
Tuscany Cove residents enjoy resort-style amenities including a pool and spa, clubhouse, fitness, tennis, pickleball, billiards, and a children’s pool, with Founders Square and shopping, dining, and top-rated schools nearby.
The master suite faces the lake and offers a walk-in closet and a dual-sink bath with a glass walk-in shower. Two additional bedrooms and a full guest bath are set apart for privacy, along with a separate flex room that can serve as an office or den. Tile runs through the living areas, and the bedrooms have wood finishes. In-residence laundry and a two-car garage complete the home.
Tuscany Cove residents enjoy resort-style amenities including a pool and spa, clubhouse, fitness, tennis, pickleball, billiards, and a children’s pool, with Founders Square and shopping, dining, and top-rated schools nearby.
Key Highlights
- 2006‑built ranch‑style end unit villa with 3 bedrooms and 2 bathrooms in a gated resort community in North Naples
- Waterfront: wide lake view plus a large screened lanai over the water
- Interior features include vaulted ceilings, bar, built‑in cabinets, pantry, foyer, French doors, and walk‑in closets
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
$19,755
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
4.76%
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%
$395,100
$395.1K
Cap Rate 7%
$282,214
$282.2K
Cap Rate 9%
$219,500
$219.5K
Market Conditions
NOI Build-Up for 1,455 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
$37.9K $26.04/SF
− Vacancy
−$2.0K −$1.35/SF
EGI
$35.9K $24.69/SF
− OpEx
−$16.2K −$11.11/SF
NOI
$19.8K $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%
$395,100
Cap Rate 7%
$282,214
Cap Rate 9%
$219,500
Alternative Uses
Best Use
Apartment 5plus
$282.2K
$246.9K – $329.3K
NOI $19,755 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$584.0K
$511.0K – $681.3K
NOI $40,877 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 34120, FL
41,026
Population
17,778
Households
2.3
Avg Household Size
43
Median Age
31%
College-Educated
87%
High-School Grad
140.8 sq mi
ZIP Area
291
Density / Sq Mi
$90,695
Median Household Income
$43,959
Median Earnings
$2,067
Median Rent
$456,300
Median Home Value
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Frequently Asked Questions
What type of property is this?
Single family property - End unit villa with three bedrooms, two baths, vaulted ceilings, and a screened lanai overlooking a lake.
Where is this single family property located?
The property is located at 15222 Cortona Way Naples, FL.
What is the asking price?
The asking price for this property is $414,900.
What are key features of this property?
This property features: 2006‑built ranch‑style end unit villa with 3 bedrooms and 2 bathrooms in a gated resort community in North Naples; Waterfront: wide lake view plus a large screened lanai over the water; Interior features include vaulted ceilings, bar, built‑in cabinets, pantry, foyer, French doors, and walk‑in closets
