Modern Two-Unit
For Sale
$510,000
4741/4743 29th St SW, Lehigh Acres, FL 33973
Residential Income, Duplex, LEHIGH ACRES, FL
Property Size2,398 SF
Lot Size0.29 Acres
Price / SF$212.68
Days on Market176
Property Features for 4741/4743 29th St SW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
RM-2
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 4, Bedroom 3, Bathroom 1
Patio and Porch features
Patio
Pets allowed
Yes
Subdivision
LEHIGH ESTATES
Lot features
Regular, Regular
Standard status
Active
APN
05-45-26-04-00018.0060
Size
2,398 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LEHIGH ESTATES UNIT 4 BLK.18 PB 15 PG 84 LOT 6
Tax Annual Amount
496
Legal Description
LEHIGH ESTATES UNIT 4 BLK.18 PB 15 PG 84 LOT 6
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Well
Building Details
Year built
2026
Number of units
2
Flooring type
Tile
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Downing Frye Realty Inc.
(239) 261-2244
Listed By:
Alyssa Pezzano
(239) 250-9434
Added: Apr 9
Changed: Sep 29
Last Checked: Oct 1 at 10:06PM
MLS# 226014945
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 two-unit duplex under construction at 4741/4743 29th St SW in Lehigh Acres is designed with two separate residences. The property contains 2,398 square feet, with each unit offering three bedrooms and two full bathrooms, for a combined total of six bedrooms and four bathrooms. Concrete block and stucco construction, tile flooring, central air, electric heating, and shingle roofing are specified. Each residence also includes patio space.
The property occupies 0.285 acres and is located in Lee County, Florida. RM-2 zoning, well water, and a septic tank are part of the property specifications. Construction is identified for 2026, with the current condition listed as under construction.
The property occupies 0.285 acres and is located in Lee County, Florida. RM-2 zoning, well water, and a septic tank are part of the property specifications. Construction is identified for 2026, with the current condition listed as under construction.
Key Highlights
- Two‑unit duplex with 2,398 square feet of total property size
- Each residence includes 3 bedrooms and 2 full bathrooms
- Combined layout provides 6 bedrooms and 4 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
$31,741
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
6.22%
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%
$634,820
$634.8K
Cap Rate 7%
$453,443
$453.4K
Cap Rate 9%
$352,678
$352.7K
Market Conditions
NOI Build-Up for 2,398 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
$45.3K $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%
$634,820
Cap Rate 7%
$453,443
Cap Rate 9%
$352,678
Alternative Uses
Best Use
Multifamily LT 5
$453.4K
$396.8K – $529.0K
NOI $31,741 @ 7.0% cap · market cap 6.22%
Second Best
Apartment 5plus
$420.2K
$367.7K – $490.2K
NOI $29,414 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$754.8K
$660.4K – $880.6K
NOI $52,833 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
83
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Under-construction duplex with tile flooring, central air, electric heating, and patios serving both residences.
Where is this duplex located?
The property is located at 4741/4743 29th St SW Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,398 square feet of total property size; Each residence includes 3 bedrooms and 2 full bathrooms; Combined layout provides 6 bedrooms and 4 bathrooms
