Renovated Duplex With Two
For Sale
$330,000
11421 Kimble Dr Unit 423, Fort Myers, FL 33908
Updated coastal-area property near the beach, major retailers, package services, and a variety of restaurants.
Property Size1,816 SF
Price / SF$181.72
Days on Market41
Property Features for 11421 Kimble Dr Unit 423
General Information
Standard status
Active
Size
1,816 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1973
Buildings
1
Listing Agency:
DomainRealty.com LLC
Listed By:
Daniel Clarkston · License #258027589
(239) 747-5587
Source:
Swfloridarealestate
Added: Jul 24
Changed: Aug 31
Last Checked: Sep 1 at 9:26PM
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 DomainRealty.com LLC
Investment Insights
Based on property information with market context.
This 1,816-square-foot duplex, built in 1973, contains two separate 2-bedroom, 1-bathroom units. Both residences received updates with modern finishes following Hurricane Ian and are described as move-in ready, providing a practical configuration for occupying one unit while leasing the other or operating both as rentals.
The property is located at 11421 Kimble Dr Unit 423 in Fort Myers, within the Linda Loma neighborhood. The beach is only minutes away, while Walmart, Publix, UPS, and multiple restaurants are nearby. The property is positioned for either long-term or short-term rental use.
The property is located at 11421 Kimble Dr Unit 423 in Fort Myers, within the Linda Loma neighborhood. The beach is only minutes away, while Walmart, Publix, UPS, and multiple restaurants are nearby. The property is positioned for either long-term or short-term rental use.
Key Highlights
- Two separate 2‑bedroom, 1‑bathroom units
- 1,816 SF duplex built in 1973
- Updated with modern finishes following Hurricane Ian
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
$24,037
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
7.28%
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%
$480,740
$480.7K
Cap Rate 7%
$343,386
$343.4K
Cap Rate 9%
$267,078
$267.1K
Market Conditions
NOI Build-Up for 1,816 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
$36.0K $19.80/SF
− Vacancy
−$1.6K −$0.89/SF
EGI
$34.3K $18.91/SF
− OpEx
−$10.3K −$5.67/SF
NOI
$24.0K $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%
$480,740
Cap Rate 7%
$343,386
Cap Rate 9%
$267,078
Alternative Uses
Best Use
Multifamily LT 5
$343.4K
$300.5K – $400.6K
NOI $24,037 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$318.2K
$278.4K – $371.3K
NOI $22,275 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$571.6K
$500.1K – $666.8K
NOI $40,010 @ 7.0% cap · market cap 12.12%
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
487
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Updated coastal-area property near the beach, major retailers, package services, and a variety of restaurants.
Where is this duplex located?
The property is located at 11421 Kimble Dr Unit 423 Fort Myers, FL.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Two separate 2‑bedroom, 1‑bathroom units; 1,816 SF duplex built in 1973; Updated with modern finishes following Hurricane Ian
