Two-Unit Duplex with
New
For Sale
$530,000
12216 TETZEL AVE, Port Charlotte, FL 33981
Both residences are currently leased and include private garages.
Property Size2,413 SF
Days on Market5
Property Features for 12216 TETZEL AVE
General Information
Standard status
Active
Size
2,413 SF
Total Parking Spaces
2
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,832
Building Details
Building Size
2,413 SF
Year Built
2023
Listing Agency:
RE/MAX PALM REALTY
Listed By:
Erin Daum · License #3204406
(941) 268-2263
Source:
Nixandassociates
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 2:38PM
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 RE/MAX PALM REALTY
Investment Insights
Based on property information with market context.
Built in 2023, this duplex contains two residences, each with three bedrooms, two bathrooms, and a one-car garage. Interior features include luxury vinyl plank flooring, solid surface countertops, and hurricane impact windows. Both units are currently rented.
Shopping, dining, everyday services, and Gulf Coast beaches are described as nearby. The property combines two leased residences with private garage space and contemporary interior finishes.
Shopping, dining, everyday services, and Gulf Coast beaches are described as nearby. The property combines two leased residences with private garage space and contemporary interior finishes.
Key Highlights
- Two residences, each with 3 bedrooms and 2 bathrooms
- One‑car garage for each unit
- Built 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
$23,342
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
4.40%
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%
$466,840
$466.8K
Cap Rate 7%
$333,457
$333.5K
Cap Rate 9%
$259,356
$259.4K
Market Conditions
NOI Build-Up for 2,413 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
$41.1K $17.04/SF
− Vacancy
−$7.8K −$3.22/SF
EGI
$33.3K $13.82/SF
− OpEx
−$10.0K −$4.15/SF
NOI
$23.3K $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%
$466,840
Cap Rate 7%
$333,457
Cap Rate 9%
$259,356
Alternative Uses
Best Use
Multifamily LT 5
$333.5K
$291.8K – $389.0K
NOI $23,342 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$304.3K
$266.3K – $355.1K
NOI $21,303 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$790.1K
$691.3K – $921.8K
NOI $55,306 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
80
Businesses Nearby
Explore this area
Business Placement
Demographics for 33981, FL
13,574
Population
7,808
Households
1.7
Avg Household Size
59
Median Age
27%
College-Educated
93%
High-School Grad
45.4 sq mi
ZIP Area
299
Density / Sq Mi
$71,266
Median Household Income
$36,931
Median Earnings
$1,198
Median Rent
$355,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Both residences are currently leased and include private garages.
Where is this duplex located?
The property is located at 12216 TETZEL AVE Port Charlotte, FL.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 2 bathrooms; One‑car garage for each unit; Built in 2023
