Updated Duplex with Leased
For Sale
$360,000
16871 Juanita Ave Unit 873, Fort Myers, FL 33908
Two separately leased residences include refreshed kitchens and tile flooring.
Property Size1,722 SF
Price / SF$209.06
Days on Market32
Property Features for 16871 Juanita Ave Unit 873
General Information
Standard status
Active
Size
1,722 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1989
Buildings
1
Listing Agency:
Key to Florida Realty
Listed By:
Jeannie Blymyer · License #668000975
(419) 339-8515
Source:
Swfloridarealestate
Added: Aug 2
Changed: Aug 28
Last Checked: Sep 1 at 11:11PM
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 Key to Florida Realty
Investment Insights
Based on property information with market context.
This duplex contains two 2-bedroom, 1-bath units totaling 1,722 square feet. Both residences have been updated with new kitchen appliances, fresh finishes, and tile flooring. Each unit is currently leased, providing an established occupancy profile. The property also has a 2-year-old roof and has been maintained over time.
Located in Fort Myers, the property is near Fort Myers Beach, Sanibel, Walmart, Publix, shopping, dining, and area attractions. The asset is identified as a duplex and was built in 1989.
Located in Fort Myers, the property is near Fort Myers Beach, Sanibel, Walmart, Publix, shopping, dining, and area attractions. The asset is identified as a duplex and was built in 1989.
Key Highlights
- Two 2‑bedroom, 1‑bath units
- 1,722 square feet total
- Both units currently leased
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
$22,793
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
6.33%
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%
$455,860
$455.9K
Cap Rate 7%
$325,614
$325.6K
Cap Rate 9%
$253,256
$253.3K
Market Conditions
NOI Build-Up for 1,722 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
$34.1K $19.80/SF
− Vacancy
−$1.5K −$0.89/SF
EGI
$32.6K $18.91/SF
− OpEx
−$9.8K −$5.67/SF
NOI
$22.8K $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%
$455,860
Cap Rate 7%
$325,614
Cap Rate 9%
$253,256
Alternative Uses
Best Use
Multifamily LT 5
$325.6K
$284.9K – $379.9K
NOI $22,793 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$301.7K
$264.0K – $352.0K
NOI $21,122 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$542.0K
$474.2K – $632.3K
NOI $37,939 @ 7.0% cap · market cap 10.54%
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
521
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 separately leased residences include refreshed kitchens and tile flooring.
Where is this duplex located?
The property is located at 16871 Juanita Ave Unit 873 Fort Myers, FL.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units; 1,722 square feet total; Both units currently leased
