The Pros & Cons of a Pelican Bay Investment Property

Looking to invest in an exclusive, high-end neighborhood with pristine white sand beaches and ocean views? Pelican Bay in Naples, FL is perfect for you. It’s home to a variety of the luxury properties that Naples is known for with all of the usual tax benefits for Florida real estate. In Pelican Bay, you can make your mark in an area that celebrates an affluent coastal lifestyle with fresh seafood restaurants, relaxing watersports, and plenty of arts and culture. If you’re considering investing in Southwest Florida real estate, a Pelican Bay investment property could be your best opportunity.

Naples Relocation Experts is your go-to guide for all things Naples, FL. We know our neighborhoods and market better than any other real estate company, and we use this knowledge to help our city and our clients thrive. Our services go beyond just buying and selling property. We’re also real estate investors in our own right, so we provide first-hand insight on how to profit off of Naples real estate. We’re currently homeowners and investors in the Pelican Bay community with experience talking to neighbors and navigating the HOA – and we want to share what we’ve learned with you.

Interested in learning more? Keep reading to learn the pros and cons of purchasing a Pelican Bay investment property.

About Pelican Bay, Naples, FL

Pelican Bay is a census-designated place (CDP) and premier luxury community in Naples, FL in northwestern Collier County. The area is considered part of North Naples, located south of Naples Park and west of Pine Ridge. Pelican Bay spans 3.4 square miles, of which 2.9 square miles is land. It’s bordered to the south by the city of Naples, to the east by U.S. Route 41 (the Tamiami Trail), to the north by Vanderbilt Beach Road, and to the west by the Gulf of Mexico. Pelican Bay has 6,500 residences  located in 95 distinct residential associations.

Pelican Bay Demographics

• Population: 6,257
• Median Age: 74.1
• Median Household Income: $143,417
• Homeownership Rate: 95.1%
• Median Home Listing Price: $1.5 million

Pro: Desirable Community

If you’ve done any research on the top neighborhoods in Naples, FL, you’ll notice Pelican Bay is listed almost every time. From UpHomes to iBuyer to Inside Luxury Real Estate, blogs across the internet agree that it’s a popular and desirable place to call home.

“Pelican Bay is second to none. It’s a very safe place to park your money because people want to be a part of the community,” explained Drew Josephson, founder of Naples Relocation Experts. “There’s a brand associated with it. It’s unique, special, and exclusive.”

The brand and prestige that Pelican Bay carries is well-deserved. It’s a master-planned community that sets the standard for a true Florida beachfront lifestyle. Pelican Bay boasts private beach clubs, a variety of dining options, nature walks, golf courses, boardwalks, high-end shopping, a tennis complex, state-of-the-art fitness centers, and much more.

Con: High HOA & Club Fees

Pelican Bay has a lot to offer its residents. However, if you want to enjoy its world-class amenities and unparalleled lifestyle, there are fees involved. Like most high-end neighborhoods, residents are expected to pay Homeowners Association (HOA) fees to their residential association. However, Pelican Bay residents also pay dues to the Pelican Bay Foundation, which pays for access to exclusive community amenities like private beaches, a tennis complex, fitness center, community center, and more. Association fees in Pelican Bay can range from $111 to $590/mo, according to Neighborhoods.com.

If you’re looking for a Pelican Bay investment property to use as an annual rental, you’ll need to account for the additional fees. While they might be higher than other areas, they pay for high-end private amenities that are more than worth the price.

Pro: Resident-Only Amenities

So, what are these world-class amenities that make Pelican Bay such an exciting place to live? As a Pelican Bay member, residents can enjoy all of the following amenities.

• Private Beach Access: The private beaches are equipped with beach equipment rentals and attendants to help with set-up of lounge chairs and umbrellas as well as with sailboats, kayaks, and more. All beaches feature indoor/outdoor dining, with full-service bar and take-out options, as well as fitness classes, shower and restroom facilities, handicap ramps and beach wheelchairs. There are two access points on the North and South Beach.
• Tennis Centers: Pelican Bay has two outstanding tennis facilities: the South Tennis Center, with ten non-lit courts, and the North Tennis Center, with eight lighted courts. All courts are Har-tru and each tennis center has a pro shop, fully stocked with gear and accessories.
• Fitness Center: The state-of-the-art Pelican Bay Fitness Center features an equipment room and core studio with first-rate cardio, strength, and core-training machines and both indoor and beachfront group exercise programs. The center also employs experienced personal trainers for customized guidance and step-by-step support.
• Wellness Studio: The relaxing and rejuvenating Pelican Bay Wellness Studio is a private lakeside retreat with bamboo floors and soundproofed walls. The studio provides licensed massage therapists and experienced estheticians and offers a wide range of customizable massage and facial treatments designed to soothe and revitalize.
• Community Center: Pelican Bay’s 25,000-square-foot Community Center serves as Pelican Bay’s social, cultural and educational hub. It’s home to one of the fitness centers, the wellness studio, and a tennis pro shop as well as an art studio and two large meeting rooms. 
• Tram Transportation System: If you want some easy assistance traveling between Pelican Bay’s multiple amenities, there is a members-only tram system offering a convenient and pleasant way around the community. The open-air, electric-powered tram system has eight stations located throughout the community’s recreation areas and nature preserve.

Pelican Bay also has a private golf club: Club Pelican Bay. Each of the 27 holes – the Club, Pelican, and Bay courses – is a par 36 and features Bimini fairways and rough along with Bahia accents and TifEagle greens. The club has practice facilities, including a two-sided range, two separate chipping and pitching greens, and a large putting green.

“As one of our clients said, Pelican Bay is like Disneyland for adults,” added Drew.

Con: Population Skews Older & More Seasonal

If you’re looking to build or renovate single-family homes to sell to families, Pelican Bay might not be the best fit. Pelican Bay has an older and more seasonal population than some of the other neighborhoods in Naples, meaning there’s less children in the neighborhood year-round. As stated above, Pelican Bay has a median age of 74.1 and several of its homeowners are seasonal residents. Most families are looking to purchase homes in neighborhoods with other families and children for their kids to play with, so they might find Pelican Bay lacking in that aspect.

However, if you’re looking to use your Pelican Bay investment property as a long-term rental, an older demographic would perfectly suit your needs.

“This is the person that you ideally want to rent to,” explained Drew. “Older or retired couples who are going to take care of their home, and therefore take care of your investment.”

Pro: Abundance of Forests & Wildlife

Pelican Bay is a beautiful setting with an abundance of nature and local wildlife. The community is surrounded by 88 acres of parks and recreation areas, including mangrove forests and some of the most beautiful wildlife in Naples. It has two miles of natural beachfront as well as a natural waterway and estuary system.

Just inside the Pelican Bay coastline is the Clam Bay estuary, a 570-acre nature preserve where tidal ponds and creeks meander through a natural mangrove forest alive with wildlife. Clam Bay has a public canoe/kayak trail and ramp for recreational use. Lovers Key State Park, a 712-acre park complete with three barrier islands, is also located in Pelican Bay. It’s an ideal spot for boating, kayaking, hiking, swimming, paddleboarding, and nature watching, including manatees, dolphins, and over 40 species of birds.

Con: Short-Term Rental Restrictions

If you’re looking to invest in a short-term rental property, Pelican Bay won’t be a good fit for your investment strategy. For most of the neighborhoods within Pelican Bay, you can only rent out your home two or three times per year with a minimum rental of 90 to 120 days.

Although Pelican Bay is a CDP and isn’t located within the City of Naples, it isn’t subjected to the citywide minimum 30-day lease requirement. However, it is still bound by the rules and rental restrictions of the subdivision HOAs in the area. There are 95 different residential associations within Pelican Bay, and each one has a slightly different leasing and rental policy. Be sure to research the rules and standards of the association your desired property falls within before making any purchases.

For short-term rental properties in Naples, we recommend Naples Park. Check out our blog “Naples Park, A Short Term Rental Haven In The Last Frontier” to learn more.

Pro: Wide Variety of Properties

Another amazing benefit of Pelican Bay is the variety of property types that are available for purchase. Having over 6,500 residences, Pelican Bay offers:

• Beachfront Properties: With over two miles of coastline, you can easily find a waterfront property for sale in Pelican Bay.
• Condos: There are a variety of condominium communities to pick from in Pelican Bay, including Calais, Valencia, and St. Raphael. 
• High Rises: Choose from plenty of luxury high rises in Pelican Bay, including The Coronado, Mystique, and The Biltmore at Bay Colony. 
• Single-Family Homes: Of course, Pelican Bay also has a large variety of standard single-family homes in its inventory.
• Villas: Pelican Bay even has options for detached villas in Pelican Bay in subdivisions like Bay Villas, Bridge-Way Villas, and San Marino.

Con: Higher Risk Of Flood & Hurricane Damage

As we’ve mentioned, Pelican Bay is a coastal area with plenty of waterfront properties along over two miles of coastline. As such, it’s important to know the risks when it comes to hurricanes and flood damage. According to Florida’s hurricane evacuation zone map, most of Pelican Bay is in Evacuation Zone A. This is considered the most vulnerable area and the first to be impacted in the event of a hurricane. You’ll also want to research your property’s designation on the FEMA Flood Map to determine how likely it is for your area to flood.

It’s important to keep these risks in mind when building or purchasing a Pelican Bay investment property. For example, Florida building code requires homes located within 1 mile of the coast to have impact windows. Also, while most standard homeowners insurance policies will cover some damage caused by hurricanes, it often doesn’t include flood damage or, in some areas, wind damage. You’ll likely need to buy a separate flood insurance policy and possibly a windstorm coverage policy.

Read our Florida Hurricane Preparedness Guide to learn more about what’s expected of property owners to prepare for hurricanes.

Pro: Blue Zones Certified Community

A more recent bonus for Pelican Bay (and the rest of Naples, FL) is that Naples was recently named one of the first Blue Zones Certified Communities in the Southeast US. In January 2023, the Southwest Florida communities of Naples, Immokalee, Ave Maria, Bonita Springs, Estero, Golden Gate, East Naples, and Marco Island each achieved Blue Zones Community® certification.

Blue zones are regions in the world where residents are claimed to live longer than average. All blue zone communities embody the “Power 9” lifestyle habits that promote active lifestyles, stress relief, family, a sense of purpose, community, and more. As a certified Blue Zone, Naples residents can feel confident they’re living in a location where they can live their best and longest lives.

Ready to find your Pelican Bay Investment Property?

We want to be your guide to Pelican Bay! Our team can answer your questions, connect you with properties and contractors, and give you an expert look at the Naples real estate investment process.
Contact Naples Relocation Experts today, and find the best Pelican Bay investment property for you.