Two-Unit Residential
For Sale
$459,000
2156/2154 Edison Ave, Fort Myers, FL 33901
Two three-bedroom residences offer a recently built configuration with one unit occupied by a tenant.
Property Size2,340 SF
Price / SF$196.15
Days on Market40
Property Features for 2156/2154 Edison Ave
General Information
Standard status
Active
Size
2,340 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
2024
Listing Agency:
Starlink Realty, Inc
Listed By:
Rosa Colon · License #258024578
(239) 841-9391
Source:
Naplesareapropertysearch
Added: Aug 16
Changed: Sep 17
Last Checked: Sep 24 at 11:16AM
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 Starlink Realty, Inc
Investment Insights
Based on property information with market context.
Built in 2024, this 2,340-square-foot duplex contains two separate residences, each offering 3 bedrooms and 2 bathrooms. One unit is currently rented, while the second provides an additional residential space within the property. The two-unit layout supports an owner-occupant arrangement or continued use as a residential income property.
The property is located at 2156/2154 Edison Ave in Fort Myers, directly across from the Fort Myers Ice Skating Rink. Downtown Fort Myers is only minutes away, with shopping, restaurants, entertainment, schools, hospitals, marinas, and Gulf beaches in the surrounding area. Access to I-75 and both Fort Myers International Airport and Punta Gorda Airport is also noted.
The property is located at 2156/2154 Edison Ave in Fort Myers, directly across from the Fort Myers Ice Skating Rink. Downtown Fort Myers is only minutes away, with shopping, restaurants, entertainment, schools, hospitals, marinas, and Gulf beaches in the surrounding area. Access to I-75 and both Fort Myers International Airport and Punta Gorda Airport is also noted.
Key Highlights
- 2,340‑square‑foot duplex built in 2024
- Two units, each with 3 bedrooms and 2 bathrooms
- One unit is already rented
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
$30,973
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
6.75%
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%
$619,460
$619.5K
Cap Rate 7%
$442,471
$442.5K
Cap Rate 9%
$344,144
$344.1K
Market Conditions
NOI Build-Up for 2,340 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
$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 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%
$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
NOI $30,973 @ 7.0% cap · market cap 6.75%
Second Best
Apartment 5plus
$410.0K
$358.8K – $478.4K
NOI $28,703 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$736.5K
$644.4K – $859.3K
NOI $51,555 @ 7.0% cap · market cap 11.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,088
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
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 three-bedroom residences offer a recently built configuration with one unit occupied by a tenant.
Where is this duplex located?
The property is located at 2156/2154 Edison Ave Fort Myers, FL.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: 2,340‑square‑foot duplex built in 2024; Two units, each with 3 bedrooms and 2 bathrooms; One unit is already rented
