Two-Unit Duplex Investment
For Sale
$369,000
Pending
2405/2407 Vernon Ave S, Lehigh Acres, FL 33973
Built in 2007, the property contains two separate residential units with current leases in place.
Property Size2,156 SF
Days on Market231
Property Features for 2405/2407 Vernon Ave S
General Information
Standard status
Pending
Size
2,156 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$42,360
Multifamily Units
2
Building Details
Year Built
2007
Listing Agency:
Logical Choice Realty Group
Listed By:
Karen Morreale · License #855003725
(239) 940-3898
Source:
Naplesareahomesearch
Added: Mar 1
Changed: Oct 15
Last Checked: Oct 16 at 9:41AM
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 Logical Choice Realty Group
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Investment Insights
Based on property information with market context.
This 2,156-square-foot duplex includes two distinct residential units within a property constructed in 2007. The separate-unit layout supports independent residential occupancy and provides two rental spaces within one building.
Both units are currently leased, and the property is located at 2405/2407 Vernon Ave S in Lehigh Acres, Florida. The asset may suit buyers seeking an income-producing residential property with a straightforward duplex configuration.
Both units are currently leased, and the property is located at 2405/2407 Vernon Ave S in Lehigh Acres, Florida. The asset may suit buyers seeking an income-producing residential property with a straightforward duplex configuration.
Key Highlights
- Two separate residential units within one duplex
- 2,156 square feet of building area
- Constructed in 2007
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,537
Cap Rate
7.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$570,740
$570.7K
Cap Rate 7%
$407,671
$407.7K
Cap Rate 9%
$317,078
$317.1K
Market Conditions
NOI Build-Up for 2,156 SF
Gross rent
$42.7K $19.80/SF
− Vacancy
−$1.9K −$0.89/SF
EGI
$40.8K $18.91/SF
− OpEx
−$12.2K −$5.67/SF
NOI
$28.5K $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 Rate 5%
$570,740
Cap Rate 7%
$407,671
Cap Rate 9%
$317,078
Alternative Uses
Best Use
Multifamily LT 5
$407.7K
$356.7K – $475.6K
NOI $28,537 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$377.8K
$330.6K – $440.8K
NOI $26,446 @ 7.0% cap · market cap 7.17%
Theoretical Best
Office A
$678.6K
$593.8K – $791.7K
NOI $47,501 @ 7.0% cap · market cap 12.87%
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
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
81
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
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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 - Built in 2007, the property contains two separate residential units with current leases in place.
Where is this duplex located?
The property is located at 2405/2407 Vernon Ave S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Two separate residential units within one duplex; 2,156 square feet of building area; Constructed in 2007
