Remodeled Duplex Near Fort Myers
For Sale
$800,000
128 Gulfview Avenue, Fort Myers Beach, FL 33931
Two-level coastal property with separate living areas, bay views, and outdoor space near the beach.
Property Size1,996 SF
Price / SF$400.80
Days on Market863
Property Features for 128 Gulfview Avenue
General Information
Standard status
Active
Size
1,996 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,288
Building Details
Year Built
1974
Listing Agency:
Summit & Main Realty Group
(719) 792-9108
Listed By:
Kimberly Powers · License #100048191
(719) 429-8922
Source:
Exitrealty
Added: Jun 8, 2024
Changed: Oct 4
Last Checked: Oct 4 at 7:43AM
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 Summit & Main Realty Group
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This remodeled duplex-style property at 128 Gulfview Avenue offers 1,996 square feet across two levels. The upper residence features an open-concept layout, Back Bay views, a renovated kitchen with quartz countertops, island cooktop, stainless hood and appliances, plus a primary suite with walk-in closet and ensuite bath. A separate lower apartment has its own entrance and laundry, while an additional art studio includes a private entry and ductless A/C split system.
The oversized pie-shaped lot includes a large deck, landscaped grounds, tropical plantings, palm trees and a six-foot privacy wall along the rear boundary. The property is 226 steps from the beach and is near Fresh Catch Bistro, Junkanoo Below Deck, Publix, Snook Bight Marina and Newton Beach Park. Although zoned single family, the property has a Fort Myers Beach certificate authorizing separate rental of the upstairs and downstairs areas.
The oversized pie-shaped lot includes a large deck, landscaped grounds, tropical plantings, palm trees and a six-foot privacy wall along the rear boundary. The property is 226 steps from the beach and is near Fresh Catch Bistro, Junkanoo Below Deck, Publix, Snook Bight Marina and Newton Beach Park. Although zoned single family, the property has a Fort Myers Beach certificate authorizing separate rental of the upstairs and downstairs areas.
Key Highlights
- 1,996‑square‑foot remodeled duplex‑style property
- Two separate living areas with individual entries
- Fort Myers Beach certificate authorizes separate upstairs and downstairs rentals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,420
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,400
$528.4K
Cap Rate 7%
$377,429
$377.4K
Cap Rate 9%
$293,556
$293.6K
Market Conditions
NOI Build-Up for 1,996 SF
Gross rent
$39.5K $19.80/SF
− Vacancy
−$1.8K −$0.89/SF
EGI
$37.7K $18.91/SF
− OpEx
−$11.3K −$5.67/SF
NOI
$26.4K $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%
$528,400
Cap Rate 7%
$377,429
Cap Rate 9%
$293,556
Alternative Uses
Best Use
Multifamily LT 5
$377.4K
$330.3K – $440.3K
NOI $26,420 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$349.8K
$306.0K – $408.1K
NOI $24,483 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$628.2K
$549.7K – $732.9K
NOI $43,976 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
Explore this area
Business Placement
Demographics for 33931, FL
9,389
Population
14,561
Households
0.6
Avg Household Size
68
Median Age
37%
College-Educated
97%
High-School Grad
10.3 sq mi
ZIP Area
912
Density / Sq Mi
$80,438
Median Household Income
$38,723
Median Earnings
$1,500
Median Rent
$475,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two-level coastal property with separate living areas, bay views, and outdoor space near the beach.
Where is this duplex located?
The property is located at 128 Gulfview Avenue Fort Myers Beach, FL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 1,996‑square‑foot remodeled duplex‑style property; Two separate living areas with individual entries; Fort Myers Beach certificate authorizes separate upstairs and downstairs rentals
