Modern Corner-Lot
New
For Sale
$579,000
1137-1139 INDIES Way, Punta Gorda, FL 33983
Residential Income, PUNTA GORDA, FL
Property Size2,528 SF
Lot Size0.24 Acres
Price / SF$229.03
Days on Market3
Property Features for 1137-1139 INDIES Way
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RMF15
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 3, Bathroom 4, Bathroom 1, Bedroom 6, Dining Room, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 2, Bedroom 4
Pets allowed
Yes
Interior features
Living Room/Dining Room Combo, Open Floorplan, Primary Bedroom Main Floor, Solid Surface Counters, Solid Wood Cabinets
Appliances
Dishwasher, Range, Refrigerator
Subdivision
PUNTA GORDA ISLES SEC 23
Elementary school
Deep Creek Elementary
Middle school
Punta Gorda Middle
High school
Charlotte High
Directions
From I-75, head North. Take exit 170 for Kings Hwy toward CR-769/Arcadia. Turn right onto Kings Hwy. Turn right onto Sandhill Blvd. Turn right onto Indies Way. Duplex will be on the right.
Standard status
Active
APN
402309228006
Size
2,528 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PGI 023 0650 0001 PUNTA GORDA ISLES SECTION 23 BLOCK 650 A PORTION OF LOT 1 DESC AS COMM AT NE COR LOT 1 TH S 100 FT TO POB TH CONT S 75 FT TO CURVE TO RIGHT TH SWLY ALNG CURVE 39.27 FT TH W ALNG S LINE LOT 1 80 FT TO W LINE LOT 1 TH N ALNG W LINE 10 5 FT TH E 105 FT TO POB.
Tax Annual Amount
8000
Legal Description
PGI 023 0650 0001 PUNTA GORDA ISLES SECTION 23 BLOCK 650 A PORTION OF LOT 1 DESC AS COMM AT NE COR LOT 1 TH S 100 FT TO POB TH CONT S 75 FT TO CURVE TO RIGHT TH SWLY ALNG CURVE 39.27 FT TH W ALNG S LINE LOT 1 80 FT TO W LINE LOT 1 TH N ALNG W LINE 10 5 FT TH E 105 FT TO POB.
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2020
Floors in Building
1
Flooring type
Vinyl
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
RE/MAX HARBOR REALTY · RE/MAX International
(941) 639-8500
Listed By:
Bobbi Bevis · License #3240290
(941) 815-1176
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 2 at 1:06AM
MLS# C7530136
Copyright © 2026 Stellar MLS. 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.
Constructed in 2020, this duplex contains two residences totaling 2,528 square feet, with approximately 1,264 square feet per unit. Each side includes three bedrooms, two full bathrooms, a private one-car garage, separate entry, dedicated laundry space with washer and dryer hookups, and an open living and dining arrangement. Interior finishes include vinyl flooring, recessed lighting, solid wood cabinetry, solid surface counters, stainless steel appliances, pantry storage, and primary suites with dual-sink bathrooms and walk-in showers. Open patios face the backyard, and the property sits on a 0.24-acre corner lot.
The building has a 2023 shingle roof, block and stucco construction, central electric heating and central air conditioning, public water, and public sewer. Utilities are paid by the tenants, and one tenant is already in place. The property carries RMF15 zoning and is designated Flood Zone X. It is located in Deep Creek near I-75, shopping, restaurants, fitness centers, and everyday services, with Punta Gorda, Port Charlotte, and Charlotte Harbor nearby.
The building has a 2023 shingle roof, block and stucco construction, central electric heating and central air conditioning, public water, and public sewer. Utilities are paid by the tenants, and one tenant is already in place. The property carries RMF15 zoning and is designated Flood Zone X. It is located in Deep Creek near I-75, shopping, restaurants, fitness centers, and everyday services, with Punta Gorda, Port Charlotte, and Charlotte Harbor nearby.
Key Highlights
- Duplex totals 2,528 square feet, with approximately 1,264 square feet per unit
- Built in 2020 on a 0.24‑acre corner lot
- Each unit offers 3 bedrooms, 2 full baths, and a private 1‑car garage
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
$24,455
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
4.22%
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%
$489,100
$489.1K
Cap Rate 7%
$349,357
$349.4K
Cap Rate 9%
$271,722
$271.7K
Market Conditions
NOI Build-Up for 2,528 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
$43.1K $17.04/SF
− Vacancy
−$8.1K −$3.22/SF
EGI
$34.9K $13.82/SF
− OpEx
−$10.5K −$4.15/SF
NOI
$24.5K $9.67/SF
Area
Charlotte County, FL
Vacancy
18.90%
Lease Rate
$17.04 /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%
$489,100
Cap Rate 7%
$349,357
Cap Rate 9%
$271,722
Alternative Uses
Best Use
Multifamily LT 5
$349.4K
$305.7K – $407.6K
NOI $24,455 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$318.8K
$279.0K – $372.0K
NOI $22,319 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$827.7K
$724.3K – $965.7K
NOI $57,942 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
Explore this area
Business Placement
Demographics for 33983, FL
16,124
Population
9,114
Households
1.8
Avg Household Size
58
Median Age
22%
College-Educated
94%
High-School Grad
10.6 sq mi
ZIP Area
1,521
Density / Sq Mi
$67,705
Median Household Income
$36,748
Median Earnings
$1,357
Median Rent
$324,100
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 - Two three-bedroom residences feature private garages, individual entrances, and separate laundry areas.
Where is this duplex located?
The property is located at 1137-1139 INDIES Way Punta Gorda, FL.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: Duplex totals 2,528 square feet, with approximately 1,264 square feet per unit; Built in 2020 on a 0.24‑acre corner lot; Each unit offers 3 bedrooms, 2 full baths, and a private 1‑car garage
