688 21st Ave. S
Build-to-sell, capital back at exit
Aqualane Shores canal lot with 80ft frontage and a grandfathered private dock.
Build-and-sell development strategy on a 0.26-acre (11,326 sqft) vacant canal parcel at 688 21st Avenue South in Naples, Florida, located within Aqualane Shores. The site carries 80 feet of canal frontage and includes a grandfathered private dock, a meaningful feature given that post-2017 FDEP permitting has materially restricted new dock construction in comparable channels. The strategy is vertical construction of a new waterfront residence engineered to current wind-code and elevation requirements, followed by disposition on completion. Aqualane Shores has exhibited strong absorption of newly delivered inventory at price points that reflect both proximity to Third Street South and the relative scarcity of water-accessible parcels. The pre-existing dock shortens the critical path for waterfront improvements and supports a faster path to completion than comparable lots requiring fresh marine permitting. Hold duration is expected to span design, permitting, hard construction, and marketing. The asking land basis of 4.95 million dollars reflects the dock rights, canal orientation, and neighborhood positioning. Capital deployment covers site preparation, architecture and permits, construction, finish specification consistent with the local comparable set, and carrying costs through listing. Returns are targeted from the spread between all-in delivered cost and new-construction resale in a segment where recently completed homes have cleared at premiums to aged inventory.
- Address
- 688 21st Ave. S
- City
- Naples, FL
- ZIP
- 34102
- Beds
- —
- Baths
- —
- Living sqft
- —
- Lot sqft
- 11,326
- Year built
- —
- Waterfront
- CANAL
- Grandfathered dock
- 80ft canal frontage
- No-bridge Gulf access
Real cost waterfall from sponsor proforma — 24-month build cycle, ground-up basis. Lines below are project cash expenses through completion and disposition, including property tax during the hold period.
Vertical construction budget at $500/sqft across 5,000 sqft.
Project-specific upgrades such as pool, landscape, driveway, lighting and closet packages where applicable.
Source: sponsor proforma · figures are forward-looking estimates · not a guarantee of return