Duplex Under
For Sale
$371,654
12223 KIRK Avenue, Port Charlotte, FL 33981
MULTI_FAMILY - PORT CHARLOTTE, FL
Property Size2,324 SF
Lot Size0.24 Acres
Price / SF$159.92
Days on Market335
Property Features for 12223 KIRK Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
RMF10
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 4, Bedroom 5, Bedroom 4, Bedroom 6, Laundry Room, Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 3, Bathroom 1
Subdivision
PORT CHARLOTTE SEC 095
Elementary school
Meadow Park Elementary
Middle school
Murdock Middle
High school
Port Charlotte High
Directions
Merge onto I-75 S, take exit 191 toward State Rte 777, continue on State Rte 777, take W River Rd, winchester Blvd, and Willmington Blvd toward Kirk Ave in Charlotte County, turn right onto State Rte 777, continue on W River Rd, turn left onto Winchester Blvd, turn left onto Prospect Ave, turn right onto Pennell St, turn left onto Willmington Blvd, turn right onto David Blvd, turn right onto Kirk Ave, The destination is on the left, 12223 Kirk AvePort Charlotte, FL 33981
Standard status
Active
APN
412106182003
Size
2,324 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PCH 095 5067 0003 PORT CHARLOTTE SEC95 BLK5067 LT3 727/1404 UNREC DC-PJM DC3687/639PJM 4815/482 5004/496 5004/45 DEC3215311 CD3305698
Tax Annual Amount
771
Legal Description
PCH 095 5067 0003 PORT CHARLOTTE SEC95 BLK5067 LT3 727/1404 UNREC DC-PJM DC3687/639PJM 4815/482 5004/496 5004/45 DEC3215311 CD3305698
Utilities
Water source
Well
Building Details
Year built
2025
Floors in Building
1
Number of units
2
Building materials
Block
Roof type
Shingle
Listing Agency:
PARADISE REALTY AND INVESTMENT · NextHome
(954) 225-0118
Listed By:
Yury Sanchez · License #3276069
(954) 225-0118
Added: Sep 17, 2025
Changed: Aug 13
Last Checked: Aug 17 at 11:06AM
MLS# TB8429145
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Under construction duplex on a 0.24-acre lot with 2,324 square feet of total building area and a 2025 build year. Block construction with a shingle roof, and an active and transferable building permit is in place. Electrical, plumbing, and HVAC systems are already completed, with the structure in an advanced stage and ready to be finished to the new owner’s specifications.
Each unit offers a split-floor plan with three bedrooms and two bathrooms. The layout includes a laundry room, and the interior features waterproof vinyl flooring throughout. The kitchen is described with granite countertops, upgraded cabinets, and a backsplash. Parking is provided via a paver driveway accommodating two cars per home, and a walk-in closet is noted in the master bedroom. No HOA, no CDD, and no restrictions are stated for this property.
Water is supplied by a well.
Each unit offers a split-floor plan with three bedrooms and two bathrooms. The layout includes a laundry room, and the interior features waterproof vinyl flooring throughout. The kitchen is described with granite countertops, upgraded cabinets, and a backsplash. Parking is provided via a paver driveway accommodating two cars per home, and a walk-in closet is noted in the master bedroom. No HOA, no CDD, and no restrictions are stated for this property.
Water is supplied by a well.
Key Highlights
- 0.24‑acre lot with 2,324 SF total building area
- Zoned RMF10 duplex under construction with 2025 build year
- Active and transferable building permit; electrical, plumbing, and HVAC completed
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,481
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$449,620
$449.6K
Cap Rate 7%
$321,157
$321.2K
Cap Rate 9%
$249,789
$249.8K
Market Conditions
NOI Build-Up for 2,324 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$39.6K $17.04/SF
− Vacancy
−$7.5K −$3.22/SF
EGI
$32.1K $13.82/SF
− OpEx
−$9.6K −$4.15/SF
NOI
$22.5K $9.67/SF
Area
Charlotte County, FL
Vacancy
18.90%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$449,620
Cap Rate 7%
$321,157
Cap Rate 9%
$249,789
Alternative Uses
Best Use
Multifamily LT 5
$321.2K
$281.0K – $374.7K
NOI $22,481 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$293.1K
$256.5K – $342.0K
NOI $20,518 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$760.9K
$665.8K – $887.8K
NOI $53,266 @ 7.0% cap · market cap 14.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
83
Businesses Nearby
Explore this area
Business Placement
Demographics for 33981, FL
13,574
Population
7,808
Households
1.7
Avg Household Size
59
Median Age
27%
College-Educated
93%
High-School Grad
45.4 sq mi
ZIP Area
299
Density / Sq Mi
$71,266
Median Household Income
$36,931
Median Earnings
$1,198
Median Rent
$355,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Zoned RMF10 duplex under construction with completed electrical, plumbing, and HVAC and well water service.
Where is this duplex located?
The property is located at 12223 KIRK Avenue Port Charlotte, FL.
What is the asking price?
The asking price for this property is $371,654.
What are key features of this property?
This property features: 0.24‑acre lot with 2,324 SF total building area; Zoned RMF10 duplex under construction with 2025 build year; Active and transferable building permit; electrical, plumbing, and HVAC completed
