Side-by-Side Duplex with Granite
For Sale
$475,000
1223/1225 NE 15TH LANE, Cape Coral, FL 33909
Two attached residences offer open living areas, granite kitchens, family rooms, and pantry storage.
Property Size2,218 SF
Price / SF$214.16
Days on Market10
Property Features for 1223/1225 NE 15TH LANE
General Information
Standard status
Active
Size
2,218 SF
Property subtype
Half Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2005
Listing Agency:
AXEN REALTY, LLC
(480) 399-1218
Listed By:
William Benitez · License #3215082
Source:
Endlesssummerrealty
Added: Aug 22
Changed: Aug 31
Last Checked: Aug 30 at 3:16PM
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 AXEN REALTY, LLC
Investment Insights
Based on property information with market context.
This side-by-side duplex, built in 2005, includes two separately configured residences. Each unit provides three bedrooms, two bathrooms, a living area that flows into the dining space, and an oversized family room. The kitchens feature granite countertops and closet pantries, creating practical work and storage areas within the open layouts.
Located at 1223/1225 NE 15TH LANE in Cape Coral, the property is near supermarkets, gas stations, restaurants, pharmacies, schools, and medical offices. With two comparable units, the layout can accommodate an owner-occupant who leases the other residence or a buyer seeking a two-unit residential property. No HOA is associated with the property.
Located at 1223/1225 NE 15TH LANE in Cape Coral, the property is near supermarkets, gas stations, restaurants, pharmacies, schools, and medical offices. With two comparable units, the layout can accommodate an owner-occupant who leases the other residence or a buyer seeking a two-unit residential property. No HOA is associated with the property.
Key Highlights
- Side‑by‑side duplex configuration with two residences
- Each unit includes 3 bedrooms and 2 bathrooms
- Open living and dining areas plus a large family room in each unit
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
$29,358
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
6.18%
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%
$587,160
$587.2K
Cap Rate 7%
$419,400
$419.4K
Cap Rate 9%
$326,200
$326.2K
Market Conditions
NOI Build-Up for 2,218 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
$43.9K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$41.9K $18.91/SF
− OpEx
−$12.6K −$5.67/SF
NOI
$29.4K $13.24/SF
Area
Cape Coral, 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%
$587,160
Cap Rate 7%
$419,400
Cap Rate 9%
$326,200
Alternative Uses
Best Use
Multifamily LT 5
$419.4K
$367.0K – $489.3K
NOI $29,358 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$388.7K
$340.1K – $453.5K
NOI $27,207 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$575.5K
$503.6K – $671.4K
NOI $40,286 @ 7.0% cap · market cap 8.48%
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
99
Businesses Nearby
Explore this area
Business Placement
Demographics for 33909, FL
33,063
Population
14,051
Households
2.4
Avg Household Size
39
Median Age
25%
College-Educated
94%
High-School Grad
37.8 sq mi
ZIP Area
875
Density / Sq Mi
$79,096
Median Household Income
$39,912
Median Earnings
$1,773
Median Rent
$292,800
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 attached residences offer open living areas, granite kitchens, family rooms, and pantry storage.
Where is this duplex located?
The property is located at 1223/1225 NE 15TH LANE Cape Coral, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Side‑by‑side duplex configuration with two residences; Each unit includes 3 bedrooms and 2 bathrooms; Open living and dining areas plus a large family room in each unit
