Four-Unit Quadplex with Screened
For Sale
$649,000
13401 Pine Needle Ln, Fort Myers, FL 33908
Individual residences include full appliance packages, screened outdoor space, and dedicated parking.
Property Size3,408 SF
Price / SF$190.43
Days on Market60
Property Features for 13401 Pine Needle Ln
General Information
Standard status
Active
Size
3,408 SF
Property subtype
Multi-Family
Building Details
Year Built
1980
Listing Agency:
KEYRENTER FORT MYERS
Listed By:
Francis Bourassa · License #258034482
(239) 900-9077
Source:
Swflhomesource
Added: Aug 30
Changed: Oct 25
Last Checked: Oct 28 at 8:32AM
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 KEYRENTER FORT MYERS
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Investment Insights
Based on property information with market context.
Built in 1980, this Fort Myers quadplex contains four residential units, each with two bedrooms, one bathroom, and approximately 852 square feet of living space. Unit features include a refrigerator, stove, washer, dryer, dishwasher, and screened lanai. The property has seven dedicated parking spaces, and no major repairs are identified in the available property information.
Two units are currently occupied, and leases were recently renewed. The property is approximately 10 minutes from Fort Myers Beach and is near convenience stores and daily amenities. With 3,408 square feet across the four units, the asset offers an established residential configuration with existing occupancy and recently renewed leases.
Two units are currently occupied, and leases were recently renewed. The property is approximately 10 minutes from Fort Myers Beach and is near convenience stores and daily amenities. With 3,408 square feet across the four units, the asset offers an established residential configuration with existing occupancy and recently renewed leases.
Key Highlights
- Four‑unit quadplex with 3,408 square feet of property size
- Each unit includes 2 bedrooms, 1 bathroom, and approximately 852 sq ft
- Seven dedicated parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,109
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$902,180
$902.2K
Cap Rate 7%
$644,414
$644.4K
Cap Rate 9%
$501,211
$501.2K
Market Conditions
NOI Build-Up for 3,408 SF
Gross rent
$67.5K $19.80/SF
− Vacancy
−$3.0K −$0.89/SF
EGI
$64.4K $18.91/SF
− OpEx
−$19.3K −$5.67/SF
NOI
$45.1K $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 Rate 5%
$902,180
Cap Rate 7%
$644,414
Cap Rate 9%
$501,211
Alternative Uses
Best Use
Multifamily LT 5
$644.4K
$563.9K – $751.8K
NOI $45,109 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$597.2K
$522.5K – $696.7K
NOI $41,803 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$1.07M
$938.6K – $1.25M
NOI $75,085 @ 7.0% cap · market cap 11.57%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Individual residences include full appliance packages, screened outdoor space, and dedicated parking.
Where is this quadplex located?
The property is located at 13401 Pine Needle Ln Fort Myers, FL.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3,408 square feet of property size; Each unit includes 2 bedrooms, 1 bathroom, and approximately 852 sq ft; Seven dedicated parking spaces
