Former L.L. Bean beachfront property lists for $40M in Naples

Property that was formerly part of the L.L. Bean compound in Naples has hit the market. Located along Fifth Avenue South, the listing includes 130 feet of beach frontage, with an asking price of $40 million.

The 1.32-acre property consists of three parcels — 25 Fifth Ave. S., 45 Fifth Ave. S. and 470 Gulf Shore Blvd. S. — that could be turned into three residences or one large estate. It encompasses the block of Fifth Avenue South from the beach to Gulf Shore Boulevard.

"This property is incomparable to anything else on the market," James Bates of Premier Sotheby’s International Realty says in a statement.

Bates and Maggie Ives of Premier Sotheby’s International Realty’s Fifth Avenue office are marketing the property, which was listed Jan. 7.

"It’s a chance to own a piece of history while shaping a future that reflects unparalleled elegance and exclusivity," Bates says. "This is a rare opportunity to own and shape a truly iconic address."