Side-by-Side Duplex Under
For Sale
$465,000
2409/2411 Churchill Avenue N, Lehigh Acres, FL 33971
MULTI_FAMILY - Other - Lehigh Acres, FL
Property Size2,300 SF
Lot Size0.29 Acres
Price / SF$202.17
Days on Market381
Property Features for 2409/2411 Churchill Avenue N
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 5, Bathroom 3, Bathroom 4, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 6, Bedroom 2, Bedroom 1
Pets allowed
Yes
Appliances
WaterSoftener
Subdivision
LEHIGH ACRES
Standard status
Active
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LEHIGH PARK UNIT 3 BLK 12 PB 15 PG 66 LOT 12
Tax Annual Amount
402
Legal Description
LEHIGH PARK UNIT 3 BLK 12 PB 15 PG 66 LOT 12
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Electric, Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
2025
Number of units
2
Flooring type
Tile
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty Fort Myers and the Islands
(239) 236-4350
Listed By:
Phoenicia Wright · License #258035349
(518) 542-4329
Added: Jul 27, 2025
Changed: Aug 7
Last Checked: Aug 11 at 9:06AM
MLS# 2025003301
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 side-by-side duplex is currently under construction with an estimated completion year of 2025. The property is laid out as two units with a total of 2,300 sq. ft. of well-designed living space. Each unit offers 1,150 sq. ft. with 3 bedrooms and 2 full bathrooms, for a combined total of 6 bedrooms and 4 full baths across the duplex.
Interior finishes and systems include tile flooring, a central electric heating system, and central air with ceiling fans. Construction materials include block, concrete, and stucco, with a shingle roof. Appliances listed include a water softener.
The duplex sits on a 0.288-acre lot and is served by public water and a septic tank. The property is located at 2409/2411 Churchill Avenue N in Lehigh Acres.
Interior finishes and systems include tile flooring, a central electric heating system, and central air with ceiling fans. Construction materials include block, concrete, and stucco, with a shingle roof. Appliances listed include a water softener.
The duplex sits on a 0.288-acre lot and is served by public water and a septic tank. The property is located at 2409/2411 Churchill Avenue N in Lehigh Acres.
Key Highlights
- Side‑by‑side duplex under construction, Year Built 2025
- 2,300 sq. ft. total living space; 1,150 sq. ft. per unit
- 6 bedrooms and 4 full bathrooms total (3 beds and 2 baths per unit)
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
$30,443
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
6.55%
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%
$608,860
$608.9K
Cap Rate 7%
$434,900
$434.9K
Cap Rate 9%
$338,256
$338.3K
Market Conditions
NOI Build-Up for 2,300 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
$45.5K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$43.5K $18.91/SF
− OpEx
−$13.0K −$5.67/SF
NOI
$30.4K $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%
$608,860
Cap Rate 7%
$434,900
Cap Rate 9%
$338,256
Alternative Uses
Best Use
Multifamily LT 5
$434.9K
$380.5K – $507.4K
NOI $30,443 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$403.0K
$352.7K – $470.2K
NOI $28,212 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$723.9K
$633.4K – $844.6K
NOI $50,674 @ 7.0% cap · market cap 10.90%
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
53
Businesses Nearby
Explore this area
Business Placement
Demographics for 33971, FL
26,333
Population
8,802
Households
3
Avg Household Size
33
Median Age
15%
College-Educated
85%
High-School Grad
17.0 sq mi
ZIP Area
1,549
Density / Sq Mi
$72,784
Median Household Income
$38,898
Median Earnings
$1,678
Median Rent
$271,900
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 - Side-by-side duplex with 6 bedrooms and 4 full baths, under construction, with public water and septic system.
Where is this duplex located?
The property is located at 2409/2411 Churchill Avenue N Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Side‑by‑side duplex under construction, Year Built 2025; 2,300 sq. ft. total living space; 1,150 sq. ft. per unit; 6 bedrooms and 4 full bathrooms total (3 beds and 2 baths per unit)
