Updated Duplex with
For Sale
$379,000
11370 & 11368 Summerwinds Ct Unit 70, Fort Myers, FL 33908
Two residential units offer screened lanais, private garages, interior laundry, and included kitchen appliances.
Property Size2,072 SF
Price / SF$182.92
Days on Market40
Property Features for 11370 & 11368 Summerwinds Ct Unit 70
General Information
Standard status
Active
Size
2,072 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Parking per Unit
1
Amenities
screened lanai
in-unit laundry
Building Details
Year Built
1976
Buildings
1
Listing Agency:
Century 21 AllPoints Realty
Listed By:
Toni Zimmer · License #258008828
(239) 540-7925
Source:
Swfloridarealestate
Added: Jul 26
Changed: Sep 2
Last Checked: Sep 1 at 10:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 AllPoints Realty
Investment Insights
Based on property information with market context.
This 2,072-square-foot duplex contains two residential units, each with two bedrooms, one bathroom, a garage, and a screened lanai. Interior features include vinyl plank flooring, dedicated laundry areas with washers and dryers, and kitchens equipped with refrigerators, stoves, dishwashers, and microwaves. Both garages have automatic door openers and additional storage space.
Built in 1976, the property received a new roof in 2023 and fresh interior and exterior paint. One unit is occupied under an annual lease, while the second is ready for occupancy. The property is located minutes from Fort Myers Beach and within reach of Sanibel, stores, restaurants, schools, and area beaches.
Built in 1976, the property received a new roof in 2023 and fresh interior and exterior paint. One unit is occupied under an annual lease, while the second is ready for occupancy. The property is located minutes from Fort Myers Beach and within reach of Sanibel, stores, restaurants, schools, and area beaches.
Key Highlights
- 2,072 SF duplex with two residential units
- Each unit includes 2 bedrooms, 1 bathroom, a garage, and a screened lanai
- New roof installed in 2023
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
$27,426
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
7.24%
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%
$548,520
$548.5K
Cap Rate 7%
$391,800
$391.8K
Cap Rate 9%
$304,733
$304.7K
Market Conditions
NOI Build-Up for 2,072 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
$41.0K $19.80/SF
− Vacancy
−$1.8K −$0.89/SF
EGI
$39.2K $18.91/SF
− OpEx
−$11.8K −$5.67/SF
NOI
$27.4K $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%
$548,520
Cap Rate 7%
$391,800
Cap Rate 9%
$304,733
Alternative Uses
Best Use
Multifamily LT 5
$391.8K
$342.8K – $457.1K
NOI $27,426 @ 7.0% cap · market cap 7.24%
Second Best
Apartment 5plus
$363.1K
$317.7K – $423.6K
NOI $25,416 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$652.1K
$570.6K – $760.8K
NOI $45,650 @ 7.0% cap · market cap 12.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
582
Businesses Nearby
Explore this area
Business Placement
Demographics for 33908, FL
43,110
Population
32,067
Households
1.3
Avg Household Size
63
Median Age
44%
College-Educated
96%
High-School Grad
34.2 sq mi
ZIP Area
1,261
Density / Sq Mi
$74,711
Median Household Income
$50,063
Median Earnings
$1,829
Median Rent
$346,200
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 residential units offer screened lanais, private garages, interior laundry, and included kitchen appliances.
Where is this duplex located?
The property is located at 11370 & 11368 Summerwinds Ct Unit 70 Fort Myers, FL.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: 2,072 SF duplex with two residential units; Each unit includes 2 bedrooms, 1 bathroom, a garage, and a screened lanai; New roof installed in 2023
