New Duplex with Attached Garage
For Sale
$520,000
2404-2406 Hightower Ave S, Lehigh Acres, FL 33973
MULTI_FAMILY - Other - LEHIGH ACRES, FL
Property Size2,400 SF
Lot Size0.28 Acres
Price / SF$216.67
Days on Market142
Property Features for 2404-2406 Hightower Ave S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
RM-2
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 6, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 3
Patio and Porch features
Patio
Pets allowed
Yes
Subdivision
LEHIGH ACRES
Lot features
Corner Lot, Corner Lot
Standard status
Active
APN
04-45-26-04-00004.0160
Size
2,400 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LEHIGH ESTATES UNIT 4 BLK 4 PB 15 PG 84 LOT 16
Tax Annual Amount
739
Legal Description
LEHIGH ESTATES UNIT 4 BLK 4 PB 15 PG 84 LOT 16
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Well
Amenities
10-foot ceilings
8-foot interior doors
quartz countertops
premium appliances
open-concept living spaces
epoxy floor
private entrances
Building Details
Year built
2025
Number of units
2
Flooring type
Tile
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty Naples
(239) 449-1000
Listed By:
Sonja Packwood
(248) 795-8544
Added: Mar 28
Changed: Aug 13
Last Checked: Aug 16 at 10:06AM
MLS# 226014230
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 newly constructed duplex (under construction, built in 2025) is set up for separate living with private entrances on separate streets. The property sits on a 0.28-acre corner lot with 2,400 square feet total, and each residence offers 3 bedrooms and 2 bathrooms. A 1-car attached garage is included per unit with an epoxy floor, complementing the single-family feel created by the separate entrances.
Interior features include 10-foot ceilings, 8-foot interior doors, tile flooring, quartz countertops, and open-concept living spaces. The homes also include premium appliances, a patio, central air conditioning, and electric heating. Construction materials are concrete block and stucco, with a shingle roof.
Utilities are provided via a well for water and a septic tank for sewer. The property is located in Lehigh Acres with quick access to Fort Myers via SR 82 and Daniels Parkway. Area growth is supported by the nearby Gateway Marketplace, anchored by Publix and Home Depot and slated for completion in 2027, and by ongoing road improvements including the widening of Daniels Parkway.
Interior features include 10-foot ceilings, 8-foot interior doors, tile flooring, quartz countertops, and open-concept living spaces. The homes also include premium appliances, a patio, central air conditioning, and electric heating. Construction materials are concrete block and stucco, with a shingle roof.
Utilities are provided via a well for water and a septic tank for sewer. The property is located in Lehigh Acres with quick access to Fort Myers via SR 82 and Daniels Parkway. Area growth is supported by the nearby Gateway Marketplace, anchored by Publix and Home Depot and slated for completion in 2027, and by ongoing road improvements including the widening of Daniels Parkway.
Key Highlights
- 0.28‑acre corner lot duplex totaling 2,400 SF under construction, year built 2025
- RM‑2 zoning with private entrances on separate streets for both units
- Each unit offers 3 bedrooms and 2 bathrooms
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
$31,767
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
6.11%
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%
$635,340
$635.3K
Cap Rate 7%
$453,814
$453.8K
Cap Rate 9%
$352,967
$353.0K
Market Conditions
NOI Build-Up for 2,400 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
$47.5K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$45.4K $18.91/SF
− OpEx
−$13.6K −$5.67/SF
NOI
$31.8K $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%
$635,340
Cap Rate 7%
$453,814
Cap Rate 9%
$352,967
Alternative Uses
Best Use
Multifamily LT 5
$453.8K
$397.1K – $529.5K
NOI $31,767 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$420.6K
$368.0K – $490.7K
NOI $29,439 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$755.4K
$661.0K – $881.3K
NOI $52,877 @ 7.0% cap · market cap 10.17%
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
104
Businesses Nearby
Explore this area
Business Placement
Demographics for 33973, FL
12,728
Population
4,286
Households
3
Avg Household Size
28
Median Age
11%
College-Educated
81%
High-School Grad
3.8 sq mi
ZIP Area
3,349
Density / Sq Mi
$57,216
Median Household Income
$34,676
Median Earnings
$1,432
Median Rent
$334,800
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 - New duplex on a corner lot in RM-2 zoning with separate private entrances and a 1-car attached garage per unit.
Where is this duplex located?
The property is located at 2404-2406 Hightower Ave S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: 0.28‑acre corner lot duplex totaling 2,400 SF under construction, year built 2025; RM‑2 zoning with private entrances on separate streets for both units; Each unit offers 3 bedrooms and 2 bathrooms
