Corner
For Sale
$394,900
465-467 Lillon Ave S, Lehigh Acres, FL 33974
Corner-lot duplex with two rented units and one lease extending through January 2026.
Property Size2,362 SF
Price / SF$167.19
Days on Market508
Property Features for 465-467 Lillon Ave S
General Information
Standard status
Active
Size
2,362 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,700
Building Details
Year Built
2006
Buildings
1
Tenancy
Multi
Listing Agency:
Sellstate 5 Star Realty
(239) 330-0868
Listed By:
Kenia Perez Garcia · License #258028426
Source:
Naplespropertyguide
Added: Apr 11, 2025
Changed: Aug 31
Last Checked: Aug 31 at 5:28PM
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 Sellstate 5 Star Realty
Investment Insights
Based on property information with market context.
This duplex contains 2,362 square feet and was built in 2006. Each unit offers three bedrooms and two bathrooms, creating a matching two-unit configuration with spacious living areas. The property has undergone recent updates and both sides are currently rented.
Set on a corner location in Lehigh Acres, the property provides additional yard area and has no immediate neighbors on one side. One tenancy runs through January 2026, while the second is structured on a month-to-month basis, providing differing lease terms within the same asset.
Set on a corner location in Lehigh Acres, the property provides additional yard area and has no immediate neighbors on one side. One tenancy runs through January 2026, while the second is structured on a month-to-month basis, providing differing lease terms within the same asset.
Key Highlights
- Two‑unit duplex with 2,362 square feet
- Each unit includes 3 bedrooms and 2 bathrooms
- Built in 2006 with recent updates
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
$25,132
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
6.36%
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%
$502,640
$502.6K
Cap Rate 7%
$359,029
$359.0K
Cap Rate 9%
$279,244
$279.2K
Market Conditions
NOI Build-Up for 2,362 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
$38.3K $16.20/SF
− Vacancy
−$2.4K −$1.00/SF
EGI
$35.9K $15.20/SF
− OpEx
−$10.8K −$4.56/SF
NOI
$25.1K $10.64/SF
Area
ZIP 33974
Vacancy
6.17%
Lease Rate
$16.20 /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%
$502,640
Cap Rate 7%
$359,029
Cap Rate 9%
$279,244
Alternative Uses
Best Use
Multifamily LT 5
$359.0K
$314.2K – $418.9K
NOI $25,132 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$312.3K
$273.3K – $364.4K
NOI $21,864 @ 7.0% cap · market cap 5.54%
Theoretical Best
Specialty Retail
$909.3K
$795.6K – $1.06M
NOI $63,651 @ 7.0% cap · market cap 16.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
Explore this area
Business Placement
Demographics for 33974, FL
17,233
Population
5,771
Households
3
Avg Household Size
33
Median Age
16%
College-Educated
84%
High-School Grad
22.4 sq mi
ZIP Area
769
Density / Sq Mi
$65,809
Median Household Income
$33,982
Median Earnings
$1,698
Median Rent
$272,800
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 - Corner-lot duplex with two rented units and one lease extending through January 2026.
Where is this duplex located?
The property is located at 465-467 Lillon Ave S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $394,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,362 square feet; Each unit includes 3 bedrooms and 2 bathrooms; Built in 2006 with recent updates
