Four-Unit Multifamily Investment
For Sale
$1,200,000
2084 Monroe Ave, Naples, FL 34112
Four-unit multifamily property near downtown Naples and the beach.
Property Size3,200 SF
Days on Market163
Property Features for 2084 Monroe Ave
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,306
Building Details
Building Size
3,200 SF
Year Built
1987
Units
4
Listing Agency:
Berkshire Hathaway HomeServices Florida Realty
Listed By:
Rick Fioretti · License #NAPLES-463502976
(239) 370-3200
Source:
Elliman
Added: Apr 24
Changed: Sep 28
Last Checked: Oct 2 at 11:16PM
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 Berkshire Hathaway HomeServices Florida Realty
Investment Insights
Based on property information with market context.
This investment property features four units, including three two-bedroom units and one one-bedroom unit. The property is located near downtown Naples and the beach, in an area noted for growth and development. The structure has been developed over several years in various stages. All leases are annual.
Key Highlights
- Investment property featuring a mix of three 2‑bedroom units and one 1‑bedroom unit.
- Ideally located close to downtown Naples and the beach.
- Situated in a growing market area with potential for growth and development.
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
$47,271
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
3.94%
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%
$945,420
$945.4K
Cap Rate 7%
$675,300
$675.3K
Cap Rate 9%
$525,233
$525.2K
Market Conditions
NOI Build-Up for 3,200 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
$71.0K $22.20/SF
− Vacancy
−$3.5K −$1.10/SF
EGI
$67.5K $21.10/SF
− OpEx
−$20.3K −$6.33/SF
NOI
$47.3K $14.77/SF
Area
Collier County, FL
Vacancy
4.94%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$945,420
Cap Rate 7%
$675,300
Cap Rate 9%
$525,233
Alternative Uses
Best Use
Multifamily LT 5
$675.3K
$590.9K – $787.9K
NOI $47,271 @ 7.0% cap · market cap 3.94%
Second Best
Apartment 5plus
$620.7K
$543.1K – $724.1K
NOI $43,447 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,901 @ 7.0% cap · market cap 7.49%
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
1,056
Businesses Nearby
Explore this area
Business Placement
Demographics for 34112, FL
26,625
Population
20,626
Households
1.3
Avg Household Size
60
Median Age
35%
College-Educated
91%
High-School Grad
14.8 sq mi
ZIP Area
1,799
Density / Sq Mi
$68,838
Median Household Income
$34,300
Median Earnings
$1,529
Median Rent
$293,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit multifamily property near downtown Naples and the beach.
Where is this quadplex located?
The property is located at 2084 Monroe Ave Naples, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Investment property featuring a mix of three 2‑bedroom units and one 1‑bedroom unit.; Ideally located close to downtown Naples and the beach.; Situated in a growing market area with potential for growth and development.
