Ranch Duplex with Metal
For Sale
$539,000
14962 Wise Way, Fort Myers, FL 33905
MULTI_FAMILY - Ranch - Fort Myers, FL
Property Size2,430 SF
Lot Size0.32 Acres
Price / SF$221.81
Days on Market314
Property Features for 14962 Wise Way
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RM-2
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 5, Bathroom 3, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 2, Bedroom 6
Pets allowed
Yes
Subdivision
PARADISE SHORES
Lot features
Oversized Lot, Cul De Sac, Dead End
Standard status
Active
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
W 125 OF E 214 FT OF LOT B LANDINGS EAST PARADISE SHORES PB25 PG 80
Tax Annual Amount
4490
Legal Description
W 125 OF E 214 FT OF LOT B LANDINGS EAST PARADISE SHORES PB25 PG 80
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Ceiling Fan(s), Central Air, Electric
Water source
Public
Building Details
Year built
2019
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Block, Concrete, Stucco
Roof type
Metal
Architectural style
Ranch
Listing Agency:
Sweet South Realty Corp
(239) 219-9475
Listed By:
Chaz Grant · License #258024325
(239) 219-9475
Added: Oct 9, 2025
Changed: Aug 3
Last Checked: Aug 18 at 6:06AM
MLS# 2025014063
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2019 ranch duplex at 14962 Wise Way features two three-bedroom, two-bathroom units, each with 1,215 square feet of living space, a one-car garage, and a metal roof. Both units are currently leased. Interior finishes include tile flooring, granite countertops, and stainless steel appliances. Each unit also includes a primary suite with a walk-in closet and a walk-in shower, plus an open-concept living area.
Constructed with block, concrete, and stucco, the property includes hurricane shutters for all openings. The seller notes the duplex has experienced no flooding from recent storms. Utility services include public water and a septic tank for sewer.
Set on a 0.321-acre lot, this property offers a straightforward, low-maintenance residential income setup with consistent in-unit features across both units.
Constructed with block, concrete, and stucco, the property includes hurricane shutters for all openings. The seller notes the duplex has experienced no flooding from recent storms. Utility services include public water and a septic tank for sewer.
Set on a 0.321-acre lot, this property offers a straightforward, low-maintenance residential income setup with consistent in-unit features across both units.
Key Highlights
- Two fully leased three‑bedroom, two‑bath units
- 1,215 SF per unit plus one‑car garage
- Built in 2019 ranch duplex with metal roof
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
$32,164
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
5.97%
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%
$643,280
$643.3K
Cap Rate 7%
$459,486
$459.5K
Cap Rate 9%
$357,378
$357.4K
Market Conditions
NOI Build-Up for 2,430 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
$48.1K $19.80/SF
− Vacancy
−$2.2K −$0.89/SF
EGI
$45.9K $18.91/SF
− OpEx
−$13.8K −$5.67/SF
NOI
$32.2K $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%
$643,280
Cap Rate 7%
$459,486
Cap Rate 9%
$357,378
Alternative Uses
Best Use
Multifamily LT 5
$459.5K
$402.1K – $536.1K
NOI $32,164 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$425.8K
$372.6K – $496.8K
NOI $29,807 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$764.8K
$669.2K – $892.3K
NOI $53,538 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
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
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 - Ranch duplex with two three-bedroom units, fully leased, featuring hurricane shutters and a durable metal roof.
Where is this duplex located?
The property is located at 14962 Wise Way Fort Myers, FL.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: Two fully leased three‑bedroom, two‑bath units; 1,215 SF per unit plus one‑car garage; Built in 2019 ranch duplex with metal roof
