Building Details

Year Built 2023

Buildings 1

Construction block

Listing Agency: LPT Realty, LLC

Listed By: Rebecca Giacobba · License #3240236 Show Phone

Source: Swfloridarealestate

Added: Aug 22 Changed: Oct 3 Last Checked: Oct 7 at 1:06PM

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Investment Insights

Based on property information with market context.

Built in 2023, this duplex contains two residential units within one modern block-constructed building. Each unit provides 3 bedrooms and 2 bathrooms, with 2,340 square feet of heated and cooled living space across the property. Stucco exteriors, updated systems, and an additional A/C unit installed in 2023 add to the physical improvements.

The property occupies a fenced corner lot in the Fairdale subdivision and is zoned Multi-Family within the City of Fort Myers. Its location provides access to downtown Fort Myers, shopping, dining, and major roadways.

Key Highlights

• Two residential units, each with 3 bedrooms and 2 bathrooms
• 2,340 square feet of heated and cooled living space
• Built in 2023 with modern block construction and stucco exteriors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,973

Cap Rate

7.20%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$619,460 $619.5K

Cap Rate 7%

$442,471 $442.5K

Cap Rate 9%

$344,144 $344.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,340 SF

Gross rent

$46.3K $19.80/SF

− Vacancy

−$2.1K −$0.89/SF

EGI

$44.2K $18.91/SF

− OpEx

−$13.3K −$5.67/SF

NOI

$31.0K $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%

$619,460

Cap Rate 7%

$442,471

Cap Rate 9%

$344,144

Alternative Uses

Best Use

Multifamily LT 5

$442.5K

$387.2K – $516.2K (±1% cap)

NOI $30,973 @ 7.0% cap · market cap 7.20%

Second Best

Apartment 5plus

$410.0K

$358.8K – $478.4K (±1% cap)

NOI $28,703 @ 7.0% cap · market cap 6.68%

Theoretical Best

Office A

$736.5K

$644.4K – $859.3K (±1% cap)

NOI $51,555 @ 7.0% cap · market cap 11.99%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Spa & Massage Center Nail Salon Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

461

Businesses Nearby

Explore this area Business Placement

Demographics for 33916, FL

25,940

Population

12,480

Households

2.1

Avg Household Size

34

Median Age

21%

College-Educated

81%

High-School Grad

10.3 sq mi

ZIP Area

2,518

Density / Sq Mi

$49,353

Median Household Income

$32,770

Median Earnings

$1,363

Median Rent

$242,300

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Modern block construction, stucco exteriors, and updated systems define this two-unit residential property.

Where is this duplex located?

The property is located at 1904 1904/1906 French St Fort Myers, FL.

What is the asking price?

The asking price for this property is $430,000.

What are key features of this property?

This property features: Two residential units, each with 3 bedrooms and 2 bathrooms; 2,340 square feet of heated and cooled living space; Built in 2023 with modern block construction and stucco exteriors