Canal-Front
For Sale
$329,900
1500/1502 W 12th St, Lehigh Acres, FL 33972
Two separate units are leased month to month, with no HOA governing the property.
Property Size1,928 SF
Price / SF$171.11
Days on Market48
Property Features for 1500/1502 W 12th St
General Information
Standard status
Active
Size
1,928 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
renovations are not fully completed
Additional Details
Asking Price
$329,900
Multifamily Units
2
Building Details
Year Built
2005
Tenancy
Multi
Listing Agency:
Marzucco Real Estate
(239) 234-5134
Listed By:
Medway Realty
(941) 375-2456
Source:
Movetosarasotafl
Added: Sep 5
Changed: Oct 21
Last Checked: Oct 20 at 8:15PM
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 Marzucco Real Estate
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.
Built in 2005, this duplex contains two separate units with a combined 1,928 square feet of gross living area, four bedrooms, and four bathrooms. Portions of the property have been remodeled, while remaining cosmetic work is still needed. Both units are leased on a month-to-month basis, allowing the existing occupancy arrangement to continue while preserving flexibility for future changes.
The rear of the property faces a canal, providing a water-oriented outdoor setting. The duplex is located at 1500/1502 W 12th St in Lehigh Acres, Florida, and has no HOA. Its two-unit layout and current month-to-month leases provide a straightforward configuration for continued residential rental use or a future owner-occupancy strategy, subject to applicable requirements.
The rear of the property faces a canal, providing a water-oriented outdoor setting. The duplex is located at 1500/1502 W 12th St in Lehigh Acres, Florida, and has no HOA. Its two-unit layout and current month-to-month leases provide a straightforward configuration for continued residential rental use or a future owner-occupancy strategy, subject to applicable requirements.
Key Highlights
- Two‑unit duplex with 1,928 square feet of gross living area
- 4 bedrooms and 4 bathrooms
- Both units leased month to month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,520
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$510,400
$510.4K
Cap Rate 7%
$364,571
$364.6K
Cap Rate 9%
$283,556
$283.6K
Market Conditions
NOI Build-Up for 1,928 SF
Gross rent
$38.2K $19.80/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$36.5K $18.91/SF
− OpEx
−$10.9K −$5.67/SF
NOI
$25.5K $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%
$510,400
Cap Rate 7%
$364,571
Cap Rate 9%
$283,556
Alternative Uses
Best Use
Multifamily LT 5
$364.6K
$319.0K – $425.3K
NOI $25,520 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$337.8K
$295.6K – $394.2K
NOI $23,649 @ 7.0% cap · market cap 7.17%
Theoretical Best
Office A
$606.8K
$531.0K – $708.0K
NOI $42,478 @ 7.0% cap · market cap 12.88%
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
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
18
Businesses Nearby
Explore this area
Business Placement
Demographics for 33972, FL
14,727
Population
5,422
Households
2.7
Avg Household Size
37
Median Age
20%
College-Educated
87%
High-School Grad
25.3 sq mi
ZIP Area
582
Density / Sq Mi
$73,239
Median Household Income
$40,058
Median Earnings
$1,537
Median Rent
$290,300
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 separate units are leased month to month, with no HOA governing the property.
Where is this duplex located?
The property is located at 1500/1502 W 12th St Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,928 square feet of gross living area; 4 bedrooms and 4 bathrooms; Both units leased month to month
