Updated Duplex with
For Sale
$449,000
123 Meadow RD, Lehigh Acres, FL 33973
Two well-configured residences feature open living areas, tile flooring, private garages, and separate driveways.
Property Size2,290 SF
Days on Market375
Property Features for 123 Meadow RD
General Information
Standard status
Active
Size
2,290 SF
Property subtype
Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,021
Building Details
Building Size
2,290 SF
Year Built
2007
Listing Agency:
Douglas Realty & Development
Listed By:
Debra Dupree · License #258003330
(239) 834-7115
Source:
Kwelevate
Added: Sep 9, 2025
Changed: Sep 17
Last Checked: Sep 18 at 10:43AM
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 Douglas Realty & Development
Investment Insights
Based on property information with market context.
Built in 2007, this duplex includes two residences with matching layouts. Each side offers two bedrooms, two bathrooms, a den, an open kitchen and living area, tile flooring, a single-car garage, and a long driveway. The den provides additional flexible interior space. Both units benefit from air-conditioning systems installed in 2023 and a roof replacement completed in 2022.
The property is positioned near SR 82, RSW, shopping, and dining, with access to Fort Myers. Its paired residential layout, separate driveways, garage parking, and refreshed major components provide a practical configuration for residential income use.
The property is positioned near SR 82, RSW, shopping, and dining, with access to Fort Myers. Its paired residential layout, separate driveways, garage parking, and refreshed major components provide a practical configuration for residential income use.
Key Highlights
- Two‑sided duplex with two bedrooms, two bathrooms, and a den on each side
- Single‑car garage and long driveway serving each residence
- Open kitchen and living areas with tile flooring throughout
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
$30,311
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
6.75%
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%
$606,220
$606.2K
Cap Rate 7%
$433,014
$433.0K
Cap Rate 9%
$336,789
$336.8K
Market Conditions
NOI Build-Up for 2,290 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
$45.3K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$43.3K $18.91/SF
− OpEx
−$13.0K −$5.67/SF
NOI
$30.3K $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%
$606,220
Cap Rate 7%
$433,014
Cap Rate 9%
$336,789
Alternative Uses
Best Use
Multifamily LT 5
$433.0K
$378.9K – $505.2K
NOI $30,311 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$401.3K
$351.1K – $468.2K
NOI $28,090 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$720.8K
$630.7K – $840.9K
NOI $50,453 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
Explore this area
Business Placement
Demographics for 33973, FL
12,728
Population
4,286
Households
3
Avg Household Size
28
Median Age
11%
College-Educated
81%
High-School Grad
3.8 sq mi
ZIP Area
3,349
Density / Sq Mi
$57,216
Median Household Income
$34,676
Median Earnings
$1,432
Median Rent
$334,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two well-configured residences feature open living areas, tile flooring, private garages, and separate driveways.
Where is this duplex located?
The property is located at 123 Meadow RD Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Two‑sided duplex with two bedrooms, two bathrooms, and a den on each side; Single‑car garage and long driveway serving each residence; Open kitchen and living areas with tile flooring throughout
