Duplex with One-Car
For Sale
$499,000
4709/4711 21 St SW, Lehigh Acres, FL 33973
MULTI_FAMILY - Other - LEHIGH ACRES, FL
Property Size2,396 SF
Lot Size0.28 Acres
Price / SF$208.26
Days on Market77
Property Features for 4709/4711 21 St SW
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
Pets allowed
Yes
Subdivision
LEHIGH ACRES
Lot features
Oversize, Oversize
Standard status
Active
APN
04-45-26-L1-06003.0280
Size
2,396 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LEHIGH ESTATES UNIT 6 BLK.3 PB 15 PG 86 LOT 28
Tax Annual Amount
629
Legal Description
LEHIGH ESTATES UNIT 6 BLK.3 PB 15 PG 86 LOT 28
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Well
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:
Premiere Plus Realty Company
(239) 732-7837
Listed By:
Gio Valencia · License #249525717
(239) 285-9065
Added: Jun 1
Changed: Aug 13
Last Checked: Aug 16 at 9:06AM
MLS# 226022138
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.
Duplex under construction on a 0.278-acre lot with a total 2,396 SF of living space. Built with concrete block and stucco, the layout includes six bedrooms and four bathrooms across the duplex, with tile flooring, recessed LED lighting, and central electric heating with central air conditioning.
Each unit includes its own one-car garage and a dedicated laundry area. The property also includes impact-rated doors and windows, sprinkler irrigation, premium rock landscaping, and full gutters and soffits. The roof is shingle, and the sewer is serviced by a septic tank.
Construction is scheduled as a brand-new 2025 build, with a 1-year systems and appliance warranty and a 10-year structural warranty to convey. The property is zoned RM-2, supporting residential duplex use.
Each unit includes its own one-car garage and a dedicated laundry area. The property also includes impact-rated doors and windows, sprinkler irrigation, premium rock landscaping, and full gutters and soffits. The roof is shingle, and the sewer is serviced by a septic tank.
Construction is scheduled as a brand-new 2025 build, with a 1-year systems and appliance warranty and a 10-year structural warranty to convey. The property is zoned RM-2, supporting residential duplex use.
Key Highlights
- RM‑2 zoned duplex under construction (2025)
- Total 2,396 SF on a 0.278‑acre lot
- Concrete block and stucco construction with shingle roof
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
$31,714
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
6.36%
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%
$634,280
$634.3K
Cap Rate 7%
$453,057
$453.1K
Cap Rate 9%
$352,378
$352.4K
Market Conditions
NOI Build-Up for 2,396 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
$47.4K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$45.3K $18.91/SF
− OpEx
−$13.6K −$5.67/SF
NOI
$31.7K $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%
$634,280
Cap Rate 7%
$453,057
Cap Rate 9%
$352,378
Alternative Uses
Best Use
Multifamily LT 5
$453.1K
$396.4K – $528.6K
NOI $31,714 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$419.9K
$367.4K – $489.8K
NOI $29,390 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$754.1K
$659.9K – $879.8K
NOI $52,789 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
91
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - RM-2 duplex under construction with one-car garages per unit, tile floors, central electric HVAC, and septic service.
Where is this duplex located?
The property is located at 4709/4711 21 St SW Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: RM‑2 zoned duplex under construction (2025); Total 2,396 SF on a 0.278‑acre lot; Concrete block and stucco construction with shingle roof
