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Isles of Capri lot

A nearly 3-acre lot sitting on Tarpon Bay on Isles of Capri with direct access to the Gulf of Mexico sold April 15 for $10 million. The property zoned for commercial or residential use at 300 Capri Blvd. was listed Feb. 1 for $24.9 million.

Vince Napoleon and Tony Oliverio with Coldwell Banker Realty represented both the buyer, a Marco Island Resident, and the seller, a couple from Tennessee, in what Napoleon called the highest sale for at least the past few years on the Isles of Capri.

“We listed it high … hoping for a high price,” Napoleon said.

Napoleon explained he sold nine properties comparable to 300 Capri Blvd., and none sold for more than $2.5 million.

The buyer wants to develop the property in the community’s best interest, and being local he knows the needs, Napoleon said. The likely option the buyer is considering is to build boat storage, offering both wet and dry slips. The property can accommodate about 86 wet slips and about 260 dry slips.

The sellers also had plans to construct boat storage on the property, but due to delays caused by COVID-19 and difficulties caused by living out of state they decided it was best to sell, Napoleon said.

The property last sold in 2017 for $2.9 million and previously for $160,000 in 1990.

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