Duplex with Impact
For Sale
$504,999
4709/4711 Leonard Boulevard S, Lehigh Acres, FL 33973
ResidentialIncome, Lehigh Acres, FL
Property Size3,280 SF
Lot Size0.29 Acres
Price / SF$153.96
Days on Market496
Property Features for 4709/4711 Leonard Boulevard S
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
Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 6, Bedroom 4, Bathroom 3, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 5
Patio and Porch features
Patio
Pets allowed
Yes
Exterior features
Patio
Subdivision
LEHIGH ACRES
Lot features
Oversized Lot
Directions
GPS
Standard status
Active
APN
05-45-26-04-00001.0140
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LEHIGH ESTATES UNIT 4 BLK 1 PB 15 PG 84 LOT 14
Tax Annual Amount
646
Legal Description
LEHIGH ESTATES UNIT 4 BLK 1 PB 15 PG 84 LOT 14
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Well
Building Details
Year built
2025
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Block, Concrete
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
MGR Realty Services, Inc.
(239) 491-6201
Listed By:
Katia Pazo · License #258023860
(239) 289-4312
Added: May 1, 2025
Changed: Sep 3
Last Checked: Sep 8 at 10:06PM
MLS# 225043703
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 duplex contains two residences, each offering three bedrooms, two bathrooms, 1,196 square feet of living area, and 1,640 square feet of total area. Built in 2025, the property features impact-rated windows and doors, porcelain tile flooring, stainless steel appliances, quartz counters, wood cabinetry, dual sinks in the primary bathroom, a walk-in primary closet, and tray ceilings in selected rooms. Central electric heating and cooling, block and concrete construction, a shingle roof, and a patio complement the interior improvements.
The property occupies a 0.286-acre lot in Lehigh Acres and is served by a private well and septic system. Fort Myers is accessible from the property, and the site is identified as outside a flood zone. Each residence follows a ranch-style layout designed around separate living, dining, bedroom, and bathroom areas.
The property occupies a 0.286-acre lot in Lehigh Acres and is served by a private well and septic system. Fort Myers is accessible from the property, and the site is identified as outside a flood zone. Each residence follows a ranch-style layout designed around separate living, dining, bedroom, and bathroom areas.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 bathrooms per side
- Each side includes 1,196 SF of living area and 1,640 SF of total area
- 2025 construction with impact windows and doors
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
$43,415
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
8.60%
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%
$868,300
$868.3K
Cap Rate 7%
$620,214
$620.2K
Cap Rate 9%
$482,389
$482.4K
Market Conditions
NOI Build-Up for 3,280 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
$64.9K $19.80/SF
− Vacancy
−$2.9K −$0.89/SF
EGI
$62.0K $18.91/SF
− OpEx
−$18.6K −$5.67/SF
NOI
$43.4K $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%
$868,300
Cap Rate 7%
$620,214
Cap Rate 9%
$482,389
Alternative Uses
Best Use
Multifamily LT 5
$620.2K
$542.7K – $723.6K
NOI $43,415 @ 7.0% cap · market cap 8.60%
Second Best
Apartment 5plus
$574.8K
$502.9K – $670.6K
NOI $40,233 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$1.03M
$903.3K – $1.20M
NOI $72,265 @ 7.0% cap · market cap 14.31%
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
78
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 - Two matching residences offer updated finishes, private patios, and practical three-bedroom layouts.
Where is this duplex located?
The property is located at 4709/4711 Leonard Boulevard S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $504,999.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 bathrooms per side; Each side includes 1,196 SF of living area and 1,640 SF of total area; 2025 construction with impact windows and doors
