Canal-Front
New
For Sale
$329,900
1500/1502 W 12th Street, Lehigh Acres, FL 33972
Residential, Lehigh Acres, FL
Property Size1,928 SF
Lot Size0.24 Acres
Price / SF$171.11
Days on Market2
Property Features for 1500/1502 W 12th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RM-2
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bathroom 2, Bedroom 4, Bathroom 4, Dining Room, Bathroom 3, Bedroom 1, Bedroom 3, Bathroom 1
Parking features
Driveway, Paved or Surfaced
Patio and Porch features
Patio
Pets allowed
Yes
Interior features
Bathtub, LivingDiningRoom, SplitBedrooms
Exterior features
Patio
Appliances
ElectricCooktop, Microwave, Refrigerator
Subdivision
LEHIGH ACRES
Lot features
Rectangular Lot
View
City
Directions
From I-75, take Exit 138 (FL-82 E/Immokalee Rd) and head east. Continue to Sunshine Blvd N and turn north. Turn right onto W 12th St. Continue to 1500/1502 W 12th St. Property is on the south side of W 12th St.
Standard status
Active
APN
18-44-27-L3-2000S.0130
Size
1,928 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TWELFTH STREET PARK BLK S PB 15 PG 25 LOT 13
Tax Annual Amount
3915
Legal Description
TWELFTH STREET PARK BLK S PB 15 PG 25 LOT 13
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Well
Water front features
Canal Access
Water front
1
Building Details
Year built
2005
Floors in Building
1
Flooring type
Carpet, Tile, Laminate
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Myland Realty Inc
(239) 210-1581
Listed By:
Gladys Cruz · License #258009314
(239) 369-2529
Added: Sep 3
Last Checked: Sep 4 at 12:06AM
MLS# 2026037315
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.
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. The property has received partial remodeling, while remaining cosmetic work allows the next owner to complete the interior according to their plans. Interior features include split-bedroom layouts, living and dining areas, bathtubs, carpet, tile, and laminate flooring. Each unit is supported by central cooling and electric heating, with electric cooktops, microwaves, and refrigerators included.
The rear of the property faces a canal and includes canal access, along with a patio and paved driveway parking. The 0.2396-acre site uses a well and septic tank, with block, concrete, and stucco construction beneath a shingle roof. Both units are leased on a month-to-month basis, and the property has no HOA.
The rear of the property faces a canal and includes canal access, along with a patio and paved driveway parking. The 0.2396-acre site uses a well and septic tank, with block, concrete, and stucco construction beneath a shingle roof. Both units are leased on a month-to-month basis, and the property has no HOA.
Key Highlights
- Two separate units with 4 bedrooms and 4 bathrooms
- 1,928 square feet of gross living area on 0.2396 acres
- Canal access at the rear of the property with patio
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
$25,520
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
7.74%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
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
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 - Two separate units are leased month to month, with remodeling still available for completion and no HOA.
Where is this duplex located?
The property is located at 1500/1502 W 12th Street 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 on 0.2396 acres; Canal access at the rear of the property with patio
