NAPLES, FLA. (May 27, 2026) — A three-parcel property along 5th Avenue South and Gulf Shore Boulevard South has sold for a combined $37,000,000, representing the highest residential land sale recorded on the MLS in Naples over the past 12 months. The transaction surpasses the previous high of $19.5 million by $17.5 million, underscoring continued demand for premier beachfront and in-town development opportunities.
The property, encompassing 25 5th Avenue South, 45 5th Avenue South and 470 Gulf Shore Boulevard South, was sold to a single buyer. The parcels collectively offer approximately 1.32 acres with direct access from Gulf frontage to 5th Avenue South. The sale was represented by James Bates and Maggie Ives, global real estate advisors with Premier Sotheby’s International Realty’s Fifth Avenue office.
Previously part of the historic L.L. Bean family compound, the property is positioned between the Gulf of Mexico and downtown Naples, offering a rare opportunity for redevelopment at one of the city’s most recognized addresses. While select off-market transactions have exceeded this price point, this sale represents the highest recorded lot transaction on the MLS in Naples during the past year.
“The result speaks to the strength of demand for premier land along 5th Avenue,” said James Bates and Maggie Ives, global real estate advisors with Premier Sotheby’s International. “There is simply very little inventory of this caliber.”
About Premier Sotheby’s International Realty
Headquartered in Naples, Florida, Premier Sotheby’s International Realty has over 1,200 real estate professionals in 40 locations throughout Florida and North Carolina. Premier Sotheby’s International Realty also benefits from an association with the storied Sotheby's auction house, established in 1744. The brokerage is proudly associated with Peerage Realty Partners. For more information, visit premiersothebysrealty.com.
