Under-Construction Duplex with
For Sale
$470,000
1400/1402 W 12th Street, Lehigh Acres, FL 33972
ResidentialIncome, Lehigh Acres, FL
Property Size1,618 SF
Lot Size0.24 Acres
Price / SF$290.48
Days on Market36
Property Features for 1400/1402 W 12th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning description
RM-2
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 6, Bathroom 4, Bathroom 1, Bedroom 5, Bathroom 3, Bathroom 2, Bedroom 3
Pets allowed
Yes
Subdivision
LEHIGH ACRES
Lot features
Rectangular Lot
Standard status
Active
APN
18-44-27-L3-2000S.0180
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
TWELFTH STREET PARK BLK S PB 15 PG 25 LOT 18
Tax Annual Amount
349
Legal Description
TWELFTH STREET PARK BLK S PB 15 PG 25 LOT 18
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Ceiling Fan(s), Electric, Central Air
Water source
Well
Water front features
Canal Access
Water front
1
Building Details
Year built
2026
Number of units
2
Flooring type
Tile
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Hamilton Franklin Realty LLC
(239) 236-1239
Listed By:
Anabel Alvarez · License #258022179
(239) 223-5953
Added: Aug 4
Changed: Sep 4
Last Checked: Sep 8 at 10:06PM
MLS# 2026033099
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. 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 under-construction duplex is scheduled for completion in 2026 and includes two residences, each with 3 bedrooms, 2 bathrooms, and a 1-car garage. Interior features include porcelain tile flooring, quartz kitchen countertops, white and gray cabinetry, stainless steel appliances, and tile-finished bathrooms. Each unit also includes a washer and dryer, while impact-resistant windows and doors provide a durable exterior component.
The property occupies 0.2376 acres at 1400/1402 W 12th Street in Lehigh Acres, Florida. Canal access, well water, and a septic tank are included among the site and utility features. Construction materials include block, concrete, and stucco, with a shingle roof and central electric heating and cooling.
The property occupies 0.2376 acres at 1400/1402 W 12th Street in Lehigh Acres, Florida. Canal access, well water, and a septic tank are included among the site and utility features. Construction materials include block, concrete, and stucco, with a shingle roof and central electric heating and cooling.
Key Highlights
- Two‑unit duplex under construction with a 2026 year built
- Each unit includes 3 bedrooms, 2 bathrooms, and a 1‑car garage
- Quartz countertops, white and gray cabinetry, and stainless steel appliances
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
$21,416
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
4.56%
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%
$428,320
$428.3K
Cap Rate 7%
$305,943
$305.9K
Cap Rate 9%
$237,956
$238.0K
Market Conditions
NOI Build-Up for 1,618 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
$32.0K $19.80/SF
− Vacancy
−$1.4K −$0.89/SF
EGI
$30.6K $18.91/SF
− OpEx
−$9.2K −$5.67/SF
NOI
$21.4K $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%
$428,320
Cap Rate 7%
$305,943
Cap Rate 9%
$237,956
Alternative Uses
Best Use
Multifamily LT 5
$305.9K
$267.7K – $356.9K
NOI $21,416 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$283.5K
$248.1K – $330.8K
NOI $19,847 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$509.3K
$445.6K – $594.1K
NOI $35,648 @ 7.0% cap · market cap 7.58%
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
17
Businesses Nearby
Explore this area
Business Placement
Demographics for 33972, FL
14,727
Population
5,422
Households
2.7
Avg Household Size
37
Median Age
20%
College-Educated
87%
High-School Grad
25.3 sq mi
ZIP Area
582
Density / Sq Mi
$73,239
Median Household Income
$40,058
Median Earnings
$1,537
Median Rent
$290,300
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 - Two residences feature modern kitchens, in-unit laundry, impact-resistant openings, and canal access.
Where is this duplex located?
The property is located at 1400/1402 W 12th Street Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: Two‑unit duplex under construction with a 2026 year built; Each unit includes 3 bedrooms, 2 bathrooms, and a 1‑car garage; Quartz countertops, white and gray cabinetry, and stainless steel appliances
