Canal-Front
For Sale
$329,900
1500/1502 W 12th St, Lehigh Acres, FL 33972
Two separately leased units provide current rental income with month-to-month occupancy.
Property Size1,928 SF
Price / SF$171.11
Days on Market8
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
the renovations are not fully completed and additional cosmetic updates may be desired
Additional Details
Asking Price
$329,900
Multifamily Units
2
Tenant in Place
Yes
Building Details
Year Built
2005
Listing Agency:
Myland Realty Inc
Listed By:
Gladys Cruz · License #258009314
(239) 369-2529
Source:
Naplesareapropertysearch
Added: Oct 25
Changed: Oct 31
Last Checked: Oct 31 at 3:26AM
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 Myland Realty Inc
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 2005 duplex contains two separate units with a combined 4 bedrooms and 4 bathrooms across 1,928 square feet of gross living area. Some remodeling has been completed, while additional cosmetic work may remain. The rear of the property fronts a canal, and there is no HOA.
Both units are leased month to month, providing rental income while leaving flexibility for future occupancy or updates.
Both units are leased month to month, providing rental income while leaving flexibility for future occupancy or updates.
Key Highlights
- Two separate units with 4 bedrooms and 4 bathrooms
- 1,928 square feet of gross living area
- Built in 2005
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
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
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 separately leased units provide current rental income with month-to-month occupancy.
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 separate units with 4 bedrooms and 4 bathrooms; 1,928 square feet of gross living area; Built in 2005
