Renovated Condo in Golf
200 Palm Drive 43-7 Naples, FL 34112
200 Palm Drive 43-7, Naples, FL, 34112
$159,900
For Sale
$159,900
Updated 2-bedroom condo with golf and many amenities.
Property Size1,010 SF
Price / SF$158.32
Days on Market1020
Property Features for 200 Palm Drive 43-7
General Information
- Standard status
- Active
- Size
- 1,010 SF
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 1973
Listing agency
REMAX Affinity Mercato
(717) 497-1229
Listed by
Tess Alley · License #725008470
(717) 497-1229
Source
Exitrealty
Added: Oct 6, 2023 Updated: Jul 10 at 1:05PM Checked: Jul 21 at 6:00AM
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 REMAX Affinity Mercato
Investment Insights
Based on property information with market context.
This renovated 2-bedroom, 2-bath condo is located in the Glades Golf & Country Club. The first-floor unit features updated bathrooms and kitchen, newer flooring, and newer moldings and doors throughout. A new washer and dryer are installed in the residence. The property includes a new AC unit and a hot water heater from 2015. It is being sold turnkey. Residents have access to two golf courses: The Pines, a par 70 course, and The Palmetto, a par 55 course. Additional amenities include 9 swimming pools, tennis courts, pickleball courts, a pro shop, a 19th Hole restaurant, and a clubhouse with seasonal activities. The golf courses were renovated in 2018 with new irrigation and grass and were designed by Gordon Lewis. Additional pickleball courts and new hard-tru tennis courts are planned for 2023. The property is located 10 minutes from downtown Naples, with its restaurants, shops, and beaches. The property size is 1010 square feet.
Key Highlights
- Move‑in ready, turnkey condo in Glades Golf & Country Club.
- Access to two golf courses (par 70 and par 55) renovated in 2018.
- Extensive amenities: 9 swimming pools, tennis, pickleball, pro shop, restaurant, and clubhouse.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.3k | $26.04 |
| − Vacancy | −$1.4k | −$1.35 |
| EGI | $24.9k | $24.69 |
| − OpEx | −$11.2k | −$11.11 |
| NOI | $13.7k | $13.58 |
1,010 SF · lease $26.04/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$195.9K
$171.4K – $228.6K
NOI $13,713 @ 7.0% cap · market cap 8.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$405.4K
$354.7K – $472.9K
NOI $28,375 @ 7.0% cap · market cap 17.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Residential income properties
Similar For Sale Nearby
FAQs
What type of property is this?
Residential income property - Updated 2-bedroom condo with golf and many amenities.
Where is this residential income property located?
The property is located at 200 Palm Drive 43-7 Naples, FL.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Move‑in ready, turnkey condo in Glades Golf & Country Club.; Access to two golf courses (par 70 and par 55) renovated in 2018.; Extensive amenities: 9 swimming pools, tennis, pickleball, pro shop, restaurant, and clubhouse.
