Two-Unit
For Sale
$525,000
Pending
2897 Gordon Street, Naples, FL 34112
Well-maintained duplex with separate residences, flexible living arrangements, and outdoor space on a spacious lot.
Property Size2,075 SF
Days on Market522
Property Features for 2897 Gordon Street
General Information
Standard status
Pending
Size
2,075 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,565
Building Details
Year Built
1990
Listing Agency:
William Raveis Real Estate
(239) 529-5451
Listed By:
Alexander Torcomian · License #249529851
(239) 399-2950
Source:
Exitrealty
Added: Mar 30, 2025
Changed: Sep 2
Last Checked: Sep 1 at 3:17PM
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 William Raveis Real Estate
Investment Insights
Based on property information with market context.
This well-maintained duplex contains two separate residences totaling 2,075 square feet. One unit provides 2 bedrooms and 1 bathroom, while the other includes 2 bedrooms and 2 bathrooms. Both residences feature open living areas, functional layouts, and abundant natural light. Built in 1990, the property also offers outdoor space suitable for relaxation and entertaining.
Located at 2897 Gordon Street in Naples, the duplex is minutes from shopping, dining, parks, schools, and Naples beaches. The separate-unit configuration supports multi-unit living and provides flexibility for occupancy or rental use.
Located at 2897 Gordon Street in Naples, the duplex is minutes from shopping, dining, parks, schools, and Naples beaches. The separate-unit configuration supports multi-unit living and provides flexibility for occupancy or rental use.
Key Highlights
- Two separate residential units totaling 2,075 square feet
- Unit mix includes 2 bedrooms and 1 bathroom in one residence, plus 2 bedrooms and 2 bathrooms in the other
- Open living areas with functional layouts and abundant natural light
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
$30,653
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
5.84%
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%
$613,060
$613.1K
Cap Rate 7%
$437,900
$437.9K
Cap Rate 9%
$340,589
$340.6K
Market Conditions
NOI Build-Up for 2,075 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
$46.1K $22.20/SF
− Vacancy
−$2.3K −$1.10/SF
EGI
$43.8K $21.10/SF
− OpEx
−$13.1K −$6.33/SF
NOI
$30.7K $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%
$613,060
Cap Rate 7%
$437,900
Cap Rate 9%
$340,589
Alternative Uses
Best Use
Multifamily LT 5
$437.9K
$383.2K – $510.9K
NOI $30,653 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$402.5K
$352.2K – $469.6K
NOI $28,173 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$832.8K
$728.7K – $971.6K
NOI $58,295 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,022
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with separate residences, flexible living arrangements, and outdoor space on a spacious lot.
Where is this duplex located?
The property is located at 2897 Gordon Street Naples, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two separate residential units totaling 2,075 square feet; Unit mix includes 2 bedrooms and 1 bathroom in one residence, plus 2 bedrooms and 2 bathrooms in the other; Open living areas with functional layouts and abundant natural light
