Canal-Access
For Sale
$749,000
175 Tropical Shores WAY 177, Fort Myers Beach, FL 33931
The 1,864-square-foot structure is ready for rebuilding and approved for weekly vacation rentals.
Property Size1,864 SF
Price / SF$401.82
Days on Market300
Property Features for 175 Tropical Shores WAY 177
General Information
Standard status
Active
Size
1,864 SF
Property subtype
Duplex
Property Condition
Severity
Major Repairs Needed
Evidence
ready for rebuild
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,832
Building Details
Building Size
1,864 SF
Year Built
1971
Buildings
1
Listing Agency:
Century 21 Tri Power Realty
(239) 410-2593
Listed By:
Jerry Haataja · License #639664
(239) 463-3400
Source:
Alfredrobbins
Added: Jan 1
Changed: Oct 26
Last Checked: Oct 26 at 3:32PM
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 Century 21 Tri Power Realty
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 1,864-square-foot duplex, built in 1971, is ready for rebuilding. The property has approval for weekly vacation rentals, and a 75% elevation grant approval can transfer to a new owner.
The structure fronts a Gulf-access canal, with the open water a few minutes away. A beach is also within steps of the property.
The structure fronts a Gulf-access canal, with the open water a few minutes away. A beach is also within steps of the property.
Key Highlights
- 1,864‑square‑foot duplex built in 1971
- Structure is ready for rebuilding
- Approved for weekly vacation rentals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,672
Cap Rate
3.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$493,440
$493.4K
Cap Rate 7%
$352,457
$352.5K
Cap Rate 9%
$274,133
$274.1K
Market Conditions
NOI Build-Up for 1,864 SF
Gross rent
$36.9K $19.80/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$35.2K $18.91/SF
− OpEx
−$10.6K −$5.67/SF
NOI
$24.7K $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%
$493,440
Cap Rate 7%
$352,457
Cap Rate 9%
$274,133
Alternative Uses
Best Use
Multifamily LT 5
$352.5K
$308.4K – $411.2K
NOI $24,672 @ 7.0% cap · market cap 3.29%
Second Best
Apartment 5plus
$326.6K
$285.8K – $381.1K
NOI $22,864 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$586.7K
$513.4K – $684.5K
NOI $41,068 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
541
Businesses Nearby
Explore this area
Business Placement
Demographics for 33931, FL
9,389
Population
14,561
Households
0.6
Avg Household Size
68
Median Age
37%
College-Educated
97%
High-School Grad
10.3 sq mi
ZIP Area
912
Density / Sq Mi
$80,438
Median Household Income
$38,723
Median Earnings
$1,500
Median Rent
$475,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The 1,864-square-foot structure is ready for rebuilding and approved for weekly vacation rentals.
Where is this duplex located?
The property is located at 175 Tropical Shores WAY 177 Fort Myers Beach, FL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 1,864‑square‑foot duplex built in 1971; Structure is ready for rebuilding; Approved for weekly vacation rentals
