Waterfront Duplex
For Sale
$549,900
Pending
12401 Canal Grande Dr, Fort Myers, FL 33913
Residential, Duplex, FORT MYERS, FL
Property Size1,581 SF
Lot Size0.11 Acres
Days on Market136
Property Features for 12401 Canal Grande Dr
General Information
Property type
Residential
Property subtype
Duplex
Zoning
MPD
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Den, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1, Laundry Room
Parking
2
Parking features
Driveway
Patio and Porch features
Porch, Patio
Interior features
Built-In Cabinets, French Doors, Pantry, Smoke Detectors
Exterior features
Boat Ramp, Screened Lanai/Porch
Accessibility
Accessible Approach with Ramp
Appliances
Dishwasher, Disposal, Dryer, Microwave, Refrigerator/Freezer, Self Cleaning Oven, Tankless Water Heater, Washer
Subdivision
ESPLANADE LAKE CLUB
Lot features
Regular, Regular
View
Water
Standard status
Pending
APN
12-46-25-L2-22000.4780
Size
1,581 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ESPLANADE LAKE CLUB PLAT FOUR
Tax Annual Amount
8838
HOA Fee
$6,830 Annually
Legal Description
ESPLANADE LAKE CLUB PLAT FOUR
Utilities
Heating system
Natural Gas
Cooling system
Central Air, Electric, Gas (Cooling), Ceiling Fan(s)
Water front
1
Amenities
boating
waterskiing
fishing
paddleboarding
pool
hot tub
Bahama Bar
Toasted cafe
full-service spa
fitness center
Har-Tru tennis courts
pickleball
bocce ball
Building Details
Year built
2022
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Concrete Block, Stucco
Roof type
Tile
Architectural style
Other
Listing Agency:
eXp Realty LLC
(888) 883-8509
Listed By:
Francie Baroody
(703) 622-8550
Added: Apr 16
Changed: Aug 24
Last Checked: Aug 29 at 8:06PM
MLS# 226015660
Copyright © 2026 Naples Area Board of REALTORS. 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.
This 1,581-square-foot duplex property was built in 2022 and includes two bedrooms, two bathrooms, and a den arranged around an open-concept living area. Tile flooring, plantation shutters, quartz kitchen countertops, stainless-steel appliances, custom built-ins, and a tankless water heater are among the documented interior features. The home also has a screened lanai, patio, porch, driveway parking, and an accessible approach ramp.
The property is waterfront within Esplanade Lake Club, with a boat ramp and views across the water. Community amenities include boating, waterskiing, fishing, paddleboarding, a resort-style pool, hot tub, Bahama Bar, Toasted cafe, spa, fitness center, Har-Tru tennis courts, pickleball, and bocce ball. The property is zoned MPD and located in Fort Myers, with dining, shopping, and the airport identified nearby.
The property is waterfront within Esplanade Lake Club, with a boat ramp and views across the water. Community amenities include boating, waterskiing, fishing, paddleboarding, a resort-style pool, hot tub, Bahama Bar, Toasted cafe, spa, fitness center, Har-Tru tennis courts, pickleball, and bocce ball. The property is zoned MPD and located in Fort Myers, with dining, shopping, and the airport identified nearby.
Key Highlights
- Waterfront duplex property with 1,581 square feet of interior space
- 0.1074‑acre lot with water views and no rear neighbors stated
- Built in 2022 with two bedrooms, two bathrooms, and a den
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
$20,927
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
3.81%
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%
$418,540
$418.5K
Cap Rate 7%
$298,957
$299.0K
Cap Rate 9%
$232,522
$232.5K
Market Conditions
NOI Build-Up for 1,581 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
$31.3K $19.80/SF
− Vacancy
−$1.4K −$0.89/SF
EGI
$29.9K $18.91/SF
− OpEx
−$9.0K −$5.67/SF
NOI
$20.9K $13.24/SF
Area
Lee County, FL
Vacancy
4.50%
Lease Rate
$19.80 /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%
$418,540
Cap Rate 7%
$298,957
Cap Rate 9%
$232,522
Alternative Uses
Best Use
Multifamily LT 5
$299.0K
$261.6K – $348.8K
NOI $20,927 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$277.0K
$242.4K – $323.2K
NOI $19,393 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$497.6K
$435.4K – $580.6K
NOI $34,833 @ 7.0% cap · market cap 6.33%
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
40
Businesses Nearby
Explore this area
Business Placement
Demographics for 33913, FL
28,216
Population
16,026
Households
1.8
Avg Household Size
54
Median Age
47%
College-Educated
95%
High-School Grad
101.0 sq mi
ZIP Area
279
Density / Sq Mi
$106,925
Median Household Income
$54,341
Median Earnings
$1,914
Median Rent
$439,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom, two-bath residence with a den, screened lanai, and water views in Esplanade Lake Club.
Where is this duplex located?
The property is located at 12401 Canal Grande Dr Fort Myers, FL.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Waterfront duplex property with 1,581 square feet of interior space; 0.1074‑acre lot with water views and no rear neighbors stated; Built in 2022 with two bedrooms, two bathrooms, and a den
