Duplex With Two
For Sale
$274,900
1918 Grace Ave, Fort Myers, FL 33901
Separate residences support owner occupancy, family use, or rental arrangements.
Property Size1,334 SF
Price / SF$206.07
Days on Market148
Property Features for 1918 Grace Ave
General Information
Standard status
Active
Size
1,334 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1953
Listing Agency:
The Simonelli Real Estate Grp
Listed By:
Stetson Miller · License #258028865
(850) 259-2910
Source:
Swflhousesforsale
Added: May 25
Changed: Oct 1
Last Checked: Oct 19 at 6:42AM
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 The Simonelli Real Estate Grp
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Investment Insights
Based on property information with market context.
This 1,334-square-foot duplex, built in 1953, contains two separate residences. The larger unit offers three bedrooms and one bathroom, while the second includes one bedroom and one bathroom. Separate living areas provide distinct residential spaces within the same property.
The property is located on Grace Ave in Fort Myers, near shopping, dining, schools, downtown Fort Myers, and major roadways. Its two-unit configuration supports multiple occupancy arrangements, including living in one residence while leasing the other or renting both units.
The property is located on Grace Ave in Fort Myers, near shopping, dining, schools, downtown Fort Myers, and major roadways. Its two-unit configuration supports multiple occupancy arrangements, including living in one residence while leasing the other or renting both units.
Key Highlights
- Two‑unit duplex with 1,334 square feet
- Main residence includes 3 bedrooms and 1 bathroom
- Second residence includes 1 bedroom and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,657
Cap Rate
6.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$353,140
$353.1K
Cap Rate 7%
$252,243
$252.2K
Cap Rate 9%
$196,189
$196.2K
Market Conditions
NOI Build-Up for 1,334 SF
Gross rent
$26.4K $19.80/SF
− Vacancy
−$1.2K −$0.89/SF
EGI
$25.2K $18.91/SF
− OpEx
−$7.6K −$5.67/SF
NOI
$17.7K $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%
$353,140
Cap Rate 7%
$252,243
Cap Rate 9%
$196,189
Alternative Uses
Best Use
Multifamily LT 5
$252.2K
$220.7K – $294.3K
NOI $17,657 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$233.8K
$204.5K – $272.7K
NOI $16,363 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$419.9K
$367.4K – $489.9K
NOI $29,391 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
879
Businesses Nearby
Explore this area
Business Placement
Demographics for 33901, FL
22,629
Population
11,709
Households
1.9
Avg Household Size
43
Median Age
29%
College-Educated
83%
High-School Grad
6.2 sq mi
ZIP Area
3,650
Density / Sq Mi
$51,579
Median Household Income
$37,233
Median Earnings
$1,291
Median Rent
$280,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Separate residences support owner occupancy, family use, or rental arrangements.
Where is this duplex located?
The property is located at 1918 Grace Ave Fort Myers, FL.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,334 square feet; Main residence includes 3 bedrooms and 1 bathroom; Second residence includes 1 bedroom and 1 bathroom
