Updated Duplex with
For Sale
$619,000
17383 + 17395 Cleveland DR, Fort Myers, FL 33967
Both residences are leased and feature three-bedroom layouts with updated kitchens.
Property Size2,360 SF
Price / SF$262.29
Days on Market226
Property Features for 17383 + 17395 Cleveland DR
General Information
Standard status
Active
Size
2,360 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Gross Income
$43,800
Highway Access
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$5,324
Amenities
attached garage
large terrace deck
washer/dryer connections
Building Details
Building Size
2,360 SF
Year Built
2005
Buildings
1
Construction
concrete block
Listing Agency:
24Florida
(239) 297-4523
Listed By:
Brigitte Kratzat
(239) 322-3433
Source:
Alfredrobbins
Added: Mar 18
Changed: Oct 28
Last Checked: Oct 26 at 3:08PM
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 24Florida
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Investment Insights
Based on property information with market context.
Built in 2005, this 2,360-square-foot concrete block duplex contains two residences, each with three bedrooms and two bathrooms. The kitchens have been updated, and the flooring is porcelain tile or waterproof laminate. One unit has renovated bathrooms, including a walk-in shower and a separate tub. An attached garage includes washer and dryer connections and a powered door opener; the backyard has a terrace deck.
Recent property work includes a roof replacement and exterior painting in 2024, water equipment installed in 2024, and a new drain field in 2025. The two air-conditioning systems were replaced in 2020 and 2023. Both sides are currently rented. The property is in San Carlos Park, near shopping and restaurants, with connections to US 41 and I-75 and proximity to Fort Myers International Airport.
Recent property work includes a roof replacement and exterior painting in 2024, water equipment installed in 2024, and a new drain field in 2025. The two air-conditioning systems were replaced in 2020 and 2023. Both sides are currently rented. The property is in San Carlos Park, near shopping and restaurants, with connections to US 41 and I-75 and proximity to Fort Myers International Airport.
Key Highlights
- Two residences, each with 3 bedrooms and 2 bathrooms
- 2,360‑square‑foot concrete block duplex built in 2005
- New roof and exterior painting completed in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,238
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$624,760
$624.8K
Cap Rate 7%
$446,257
$446.3K
Cap Rate 9%
$347,089
$347.1K
Market Conditions
NOI Build-Up for 2,360 SF
Gross rent
$46.7K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$44.6K $18.91/SF
− OpEx
−$13.4K −$5.67/SF
NOI
$31.2K $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 Rate 5%
$624,760
Cap Rate 7%
$446,257
Cap Rate 9%
$347,089
Alternative Uses
Best Use
Multifamily LT 5
$446.3K
$390.5K – $520.6K
NOI $31,238 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$413.5K
$361.9K – $482.5K
NOI $28,948 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$742.8K
$650.0K – $866.6K
NOI $51,996 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Explore this area
Business Placement
Demographics for 33967, FL
28,174
Population
11,685
Households
2.4
Avg Household Size
35
Median Age
36%
College-Educated
92%
High-School Grad
7.6 sq mi
ZIP Area
3,707
Density / Sq Mi
$84,787
Median Household Income
$48,792
Median Earnings
$1,695
Median Rent
$321,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased and feature three-bedroom layouts with updated kitchens.
Where is this duplex located?
The property is located at 17383 + 17395 Cleveland DR Fort Myers, FL.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 2 bathrooms; 2,360‑square‑foot concrete block duplex built in 2005; New roof and exterior painting completed in 2024
