Duplex with Screened
For Sale
$369,900
Pending
19184/19188 Miami Blvd, Fort Myers, FL 33967
Two separately entered units include screened outdoor lanais and share a large lot near FGCU, Gulf Coast Town Center, and RSW.
Property Size1,644 SF
Days on Market140
Property Features for 19184/19188 Miami Blvd
General Information
Standard status
Pending
Size
1,644 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
screened lanais
Building Details
Year Built
1984
Listing Agency:
Bay Vision Realty
Listed By:
Kevin Henry · License #236001531
(203) 554-4049
Source:
Naplesareapropertysearch
Added: Apr 16
Changed: Sep 2
Last Checked: Sep 1 at 7:38PM
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 Bay Vision Realty
Investment Insights
Based on property information with market context.
This 1,644-square-foot duplex contains two residential units, each with its own entrance and screened lanai. The units share a large lot, providing separated access and outdoor space within a straightforward two-unit layout. The property was built in 1984, and the roof was replaced in 2018. It is also identified as not being in a flood zone and has no HOA fees.
Located at 19184/19188 Miami Blvd in Fort Myers, the duplex is minutes from Florida Gulf Coast University, Gulf Coast Town Center, and Southwest Florida International Airport. The combination of two distinct units, private entries, screened outdoor areas, and established improvements supports both investment ownership and an owner-occupant arrangement, as described for the property.
Located at 19184/19188 Miami Blvd in Fort Myers, the duplex is minutes from Florida Gulf Coast University, Gulf Coast Town Center, and Southwest Florida International Airport. The combination of two distinct units, private entries, screened outdoor areas, and established improvements supports both investment ownership and an owner-occupant arrangement, as described for the property.
Key Highlights
- Two‑unit duplex totaling 1,644 square feet
- Private entrance and screened lanai for each unit
- Large shared lot
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
$21,760
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
5.88%
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%
$435,200
$435.2K
Cap Rate 7%
$310,857
$310.9K
Cap Rate 9%
$241,778
$241.8K
Market Conditions
NOI Build-Up for 1,644 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
$32.6K $19.80/SF
− Vacancy
−$1.5K −$0.89/SF
EGI
$31.1K $18.91/SF
− OpEx
−$9.3K −$5.67/SF
NOI
$21.8K $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%
$435,200
Cap Rate 7%
$310,857
Cap Rate 9%
$241,778
Alternative Uses
Best Use
Multifamily LT 5
$310.9K
$272.0K – $362.7K
NOI $21,760 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$288.1K
$252.1K – $336.1K
NOI $20,166 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$517.4K
$452.8K – $603.7K
NOI $36,221 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
152
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately entered units include screened outdoor lanais and share a large lot near FGCU, Gulf Coast Town Center, and RSW.
Where is this duplex located?
The property is located at 19184/19188 Miami Blvd Fort Myers, FL.
What is the asking price?
The asking price for this property is $369,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,644 square feet; Private entrance and screened lanai for each unit; Large shared lot
