Duplex With Sailboat
For Sale
$450,000
14919/921 Wise WAY, Fort Myers, FL 33905
Two matching residences offer screened canal-side lanais and flexible owner-occupant or rental use.
Property Size1,954 SF
Days on Market12
Property Features for 14919/921 Wise WAY
General Information
Standard status
Active
Size
1,954 SF
Total Parking Spaces
2
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,826
Building Details
Building Size
1,954 SF
Year Built
1970
Year Renovated
2022
Buildings
1
Listing Agency:
RE/MAX Realty Group
Listed By:
Chris Horvath · License #3272622
(239) 789-8907
Source:
Kwelevate
Added: Oct 7
Changed: Oct 16
Last Checked: Oct 16 at 2:19PM
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 RE/MAX Realty Group
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Investment Insights
Based on property information with market context.
This Fort Myers duplex contains two similarly configured residences, each with approximately 977 square feet, two bedrooms, two full baths, tile flooring, a kitchen, a one-car garage, and a screened lanai facing the canal. The right unit is owner-occupied, while the left is rented. Both received air conditioning systems in 2019; roof, interior, plumbing, window, and door work was completed in 2022.
The property sits on a deep-water canal with sailboat passage to the Caloosahatchee River and the Gulf without intervening bridges. The river is about five minutes away by boat, and the canal frontage has room for a boat dock. Nearby destinations named for the property include Alva, I-75, Downtown Fort Myers, Babcock Ranch, and LaBelle.
The property sits on a deep-water canal with sailboat passage to the Caloosahatchee River and the Gulf without intervening bridges. The river is about five minutes away by boat, and the canal frontage has room for a boat dock. Nearby destinations named for the property include Alva, I-75, Downtown Fort Myers, Babcock Ranch, and LaBelle.
Key Highlights
- Deep‑water canal with sailboat passage to the Caloosahatchee River and Gulf; no bridges along the route
- Two residences, each approximately 977 square feet with 2 bedrooms and 2 full baths
- About five minutes by boat to the river; canal frontage has room for a boat dock
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,864
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$517,280
$517.3K
Cap Rate 7%
$369,486
$369.5K
Cap Rate 9%
$287,378
$287.4K
Market Conditions
NOI Build-Up for 1,954 SF
Gross rent
$38.7K $19.80/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$36.9K $18.91/SF
− OpEx
−$11.1K −$5.67/SF
NOI
$25.9K $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%
$517,280
Cap Rate 7%
$369,486
Cap Rate 9%
$287,378
Alternative Uses
Best Use
Multifamily LT 5
$369.5K
$323.3K – $431.1K
NOI $25,864 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$342.4K
$299.6K – $399.5K
NOI $23,968 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$615.0K
$538.1K – $717.5K
NOI $43,051 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
Explore this area
Business Placement
Demographics for 33905, FL
37,692
Population
17,337
Households
2.2
Avg Household Size
41
Median Age
22%
College-Educated
79%
High-School Grad
40.2 sq mi
ZIP Area
938
Density / Sq Mi
$70,009
Median Household Income
$36,923
Median Earnings
$1,509
Median Rent
$260,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences offer screened canal-side lanais and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 14919/921 Wise WAY Fort Myers, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Deep‑water canal with sailboat passage to the Caloosahatchee River and Gulf; no bridges along the route; Two residences, each approximately 977 square feet with 2 bedrooms and 2 full baths; About five minutes by boat to the river; canal frontage has room for a boat dock
