Two-Unit
For Sale
$490,000
2225/2227 Snead Dr, Lehigh Acres, FL 33973
Both residences are currently rented, with nearby everyday services supporting tenant convenience.
Property Size2,382 SF
Price / SF$205.71
Days on Market135
Property Features for 2225/2227 Snead Dr
General Information
Standard status
Active
Size
2,382 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2023
Listing Agency:
Sellstate 5 Star Realty
(860) 436-0019
Listed By:
Joshua Martinez · License #258032586
Source:
Naplesareapropertysearch
Added: Apr 19
Changed: Aug 31
Last Checked: Aug 31 at 5:33PM
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 Sellstate 5 Star Realty
Investment Insights
Based on property information with market context.
Built in 2023, this duplex contains two residences totaling 2382 SF. Each side provides 3 bedrooms and 2 bathrooms, creating a consistent layout across the property. Both units at 2225 and 2227 Snead Dr are currently rented, providing in-place rental income for the next owner.
The property is located in Lehigh Acres near 82nd Avenue, with grocery stores, pharmacies, restaurants, and other essential services within easy reach. Its two-unit configuration also accommodates an owner-occupant arrangement with one residence available for personal use while the other remains rented, as described in the property information.
The property is located in Lehigh Acres near 82nd Avenue, with grocery stores, pharmacies, restaurants, and other essential services within easy reach. Its two-unit configuration also accommodates an owner-occupant arrangement with one residence available for personal use while the other remains rented, as described in the property information.
Key Highlights
- Two‑unit duplex with 2382 SF total
- Each side includes 3Beds/2Baths
- Both units at 2225 and 2227 Snead Dr are CURRENTLY 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
$31,529
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
6.43%
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%
$630,580
$630.6K
Cap Rate 7%
$450,414
$450.4K
Cap Rate 9%
$350,322
$350.3K
Market Conditions
NOI Build-Up for 2,382 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
$47.2K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$45.0K $18.91/SF
− OpEx
−$13.5K −$5.67/SF
NOI
$31.5K $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%
$630,580
Cap Rate 7%
$450,414
Cap Rate 9%
$350,322
Alternative Uses
Best Use
Multifamily LT 5
$450.4K
$394.1K – $525.5K
NOI $31,529 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$417.4K
$365.2K – $487.0K
NOI $29,218 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$749.7K
$656.0K – $874.7K
NOI $52,480 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Explore this area
Business Placement
Demographics for 33973, FL
12,728
Population
4,286
Households
3
Avg Household Size
28
Median Age
11%
College-Educated
81%
High-School Grad
3.8 sq mi
ZIP Area
3,349
Density / Sq Mi
$57,216
Median Household Income
$34,676
Median Earnings
$1,432
Median Rent
$334,800
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 - Both residences are currently rented, with nearby everyday services supporting tenant convenience.
Where is this duplex located?
The property is located at 2225/2227 Snead Dr Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Two‑unit duplex with 2382 SF total; Each side includes 3Beds/2Baths; Both units at 2225 and 2227 Snead Dr are CURRENTLY RENTED
