New Construction
For Sale
$459,900
2237/2239 Armour Rd, Lehigh Acres, FL 33973
Residential Income, Duplex, LEHIGH ACRES, FL
Property Size2,450 SF
Lot Size0.28 Acres
Price / SF$187.71
Days on Market29
Property Features for 2237/2239 Armour Rd
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-2
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 2, Bathroom 4, Bedroom 2, Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 6, Bedroom 1, Bathroom 3
Patio and Porch features
Patio
Pets allowed
Yes
Subdivision
LEHIGH ACRES
Lot features
Regular, Regular
Standard status
Active
APN
32-44-26-L1-09010.0100
Size
2,450 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LEHIGH ESTATES UNIT 9 BLK.10 PB 15 PG 89 LOT 10
Tax Annual Amount
804
Legal Description
LEHIGH ESTATES UNIT 9 BLK.10 PB 15 PG 89 LOT 10
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Well
Amenities
impact-resistant windows
large backyard
quartz countertops
white wood cabinets
stainless steel appliances
Building Details
Year built
2026
Number of units
2
Flooring type
Tile
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Xclusive Homes LLC
(239) 228-6242
Listed By:
Jose Limpias · License #NAPLES-251500961
(239) 228-6242
Added: Aug 3
Changed: Aug 30
Last Checked: Aug 31 at 6:06AM
MLS# 226028262
Copyright © 2026 Naples Area Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex contains 2,450 square feet on a 0.2839-acre lot. The residence offers 3 bedrooms and 2 bathrooms, with an open-concept arrangement and tile flooring throughout. Interior finishes include quartz countertops in the kitchen and bathrooms, modern white wood cabinetry, and stainless steel appliances. Impact-resistant windows add a durable exterior feature, while central heating and cooling provide year-round climate control. The building is constructed with concrete block and stucco and includes a patio and large backyard.
The property is located at 2237/2239 Armour Rd in Lehigh Acres, near hospitals, shopping centers, and pharmacies, with access to I-75. Water service is provided by a well and wastewater service by a septic tank. A shingle roof completes the property improvements.
The property is located at 2237/2239 Armour Rd in Lehigh Acres, near hospitals, shopping centers, and pharmacies, with access to I-75. Water service is provided by a well and wastewater service by a septic tank. A shingle roof completes the property improvements.
Key Highlights
- 2026 construction with 2,450 square feet of building area
- 0.2839‑acre lot with a large backyard and patio
- Duplex layout with 3 bedrooms and 2 bathrooms
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
$32,429
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
7.05%
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%
$648,580
$648.6K
Cap Rate 7%
$463,271
$463.3K
Cap Rate 9%
$360,322
$360.3K
Market Conditions
NOI Build-Up for 2,450 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
$48.5K $19.80/SF
− Vacancy
−$2.2K −$0.89/SF
EGI
$46.3K $18.91/SF
− OpEx
−$13.9K −$5.67/SF
NOI
$32.4K $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%
$648,580
Cap Rate 7%
$463,271
Cap Rate 9%
$360,322
Alternative Uses
Best Use
Multifamily LT 5
$463.3K
$405.4K – $540.5K
NOI $32,429 @ 7.0% cap · market cap 7.05%
Second Best
Apartment 5plus
$429.3K
$375.7K – $500.9K
NOI $30,052 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$771.1K
$674.7K – $899.6K
NOI $53,978 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
126
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 - Contemporary finishes include quartz counters, white cabinetry, stainless steel appliances, tile flooring, and impact-resistant windows.
Where is this duplex located?
The property is located at 2237/2239 Armour Rd Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: 2026 construction with 2,450 square feet of building area; 0.2839‑acre lot with a large backyard and patio; Duplex layout with 3 bedrooms and 2 bathrooms
