Residential Income Property with Screened
For Sale
$399,900
8088 Sanctuary Dr, Naples, FL 34104
Residential, Duplex, NAPLES, FL
Property Size1,668 SF
Price / SF$239.75
Days on Market479
Property Features for 8088 Sanctuary Dr
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bedroom 1, Laundry Room, Bathroom 1, Bedroom 3, Den
Parking
2
Patio and Porch features
Porch
Interior features
Pantry, Smoke Detectors, Vaulted Ceiling(s), Walk-In Closet(s)
Exterior features
Screened Lanai/Porch
Appliances
Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator/Icemaker, Washer
Subdivision
THE SANCTUARY
Lot features
Zero Lot Line, Zero Lot Line
Standard status
Active
APN
71876001547
Size
1,668 SF
Taxes and HOA fees
Tax Year
2023
Tax Description
SANCTUARY AT BLUE HERON, THE A CONDOMINIUM BLDG 39-01
Tax Annual Amount
3253
HOA Fee
$8,028 Annually
Legal Description
SANCTUARY AT BLUE HERON, THE A CONDOMINIUM BLDG 39-01
Utilities
Heating system
Electric (Heating), Central
Cooling system
Electric, Ceiling Fan(s), Central Air
Amenities
gated community
heated pool
fitness center
tennis courts
pickleball courts
clubhouse
screened lanai
Building Details
Year built
2005
Floors in Building
1
Number of units
1
Flooring type
Tile
Building materials
Concrete Block, Stucco
Roof type
Tile
Architectural style
Other
Listing Agency:
EXIT Realty of Naples
(239) 331-5656
Listed By:
Matthew Craig
(239) 375-7029
Added: Jun 4, 2025
Changed: Sep 25
Last Checked: Sep 25 at 11:06PM
MLS# 225053225
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 1,668-square-foot residence in a gated community has three bedrooms, two bathrooms, a den, and a split-bedroom layout. Interior features include vaulted ceilings, updated bedroom flooring, fresh paint, and a kitchen with stainless steel appliances. The primary suite includes a walk-in closet and an en-suite bath with dual vanities, a soaking tub, and a separate shower. A screened lanai faces a preserve, with no homes behind it. The property also includes a two-car garage, separate laundry room, impact-resistant windows, and a tile roof installed in 2021.
Association services include internet, cable, water, sewer, lawn care, pest control, exterior maintenance, and master insurance with flood coverage. Community facilities include a heated pool, fitness center, tennis and pickleball courts, and a clubhouse. I-75, shopping, dining, and Naples beaches are described as a short drive away.
Association services include internet, cable, water, sewer, lawn care, pest control, exterior maintenance, and master insurance with flood coverage. Community facilities include a heated pool, fitness center, tennis and pickleball courts, and a clubhouse. I-75, shopping, dining, and Naples beaches are described as a short drive away.
Key Highlights
- 1,668‑square‑foot residence with 3 bedrooms, 2 bathrooms, and a den
- Screened lanai overlooking a preserve, with no rear neighbors
- Tile roof installed in 2021; impact‑resistant windows
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
$22,647
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
5.66%
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%
$452,940
$452.9K
Cap Rate 7%
$323,529
$323.5K
Cap Rate 9%
$251,633
$251.6K
Market Conditions
NOI Build-Up for 1,668 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
$43.4K $26.04/SF
− Vacancy
−$2.3K −$1.35/SF
EGI
$41.2K $24.69/SF
− OpEx
−$18.5K −$11.11/SF
NOI
$22.6K $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%
$452,940
Cap Rate 7%
$323,529
Cap Rate 9%
$251,633
Alternative Uses
Best Use
Apartment 5plus
$323.5K
$283.1K – $377.5K
NOI $22,647 @ 7.0% cap · market cap 5.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$669.4K
$585.8K – $781.0K
NOI $46,861 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
Explore this area
Business Placement
Demographics for 34104, FL
25,485
Population
16,062
Households
1.6
Avg Household Size
53
Median Age
33%
College-Educated
91%
High-School Grad
9.9 sq mi
ZIP Area
2,574
Density / Sq Mi
$70,301
Median Household Income
$40,680
Median Earnings
$1,742
Median Rent
$348,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - Community amenities include a heated pool, fitness center, tennis and pickleball courts, and a clubhouse.
Where is this residential income property located?
The property is located at 8088 Sanctuary Dr Naples, FL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 1,668‑square‑foot residence with 3 bedrooms, 2 bathrooms, and a den; Screened lanai overlooking a preserve, with no rear neighbors; Tile roof installed in 2021; impact‑resistant windows
