Brand-New Duplex with
New
For Sale
$489,000
2421 Herb Ave S, Lehigh Acres, FL 33973
Two residential units offer flexible owner-occupancy and rental-income potential with contemporary interior finishes.
Property Size2,990 SF
Price / SF$163.55
Days on Market7
Property Features for 2421 Herb Ave S
General Information
Standard status
Active
Size
2,990 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$577
Listing Agency:
Sellstate 5 Star Realty
(239) 491-2430
Listed By:
Emelin Hernandez · License #279650941
(954) 544-6230
Source:
Exprealty
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 6 at 12:03PM
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.
This brand-new duplex at 2421 Herb Ave S in Lehigh Acres contains 2990 SF across two residential units. Each side includes 2 bedrooms, 2 bathrooms, and a den, creating a practical layout with additional flexible space. High ceilings, recessed lighting, stainless steel appliances, modern finishes, and bright open living areas define the interiors.
One unit is already leased, providing rental income in place at closing, while the second unit can accommodate owner occupancy or an additional lease. The property supports a range of two-unit residential ownership strategies, including living in one side while renting the other.
One unit is already leased, providing rental income in place at closing, while the second unit can accommodate owner occupancy or an additional lease. The property supports a range of two-unit residential ownership strategies, including living in one side while renting the other.
Key Highlights
- Brand‑new duplex with 2990 SF of total building area
- Each unit includes 2 bedrooms, 2 bathrooms, and a den
- One unit is already leased with rental income in place
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
$39,577
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
8.09%
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%
$791,540
$791.5K
Cap Rate 7%
$565,386
$565.4K
Cap Rate 9%
$439,744
$439.7K
Market Conditions
NOI Build-Up for 2,990 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
$59.2K $19.80/SF
− Vacancy
−$2.7K −$0.89/SF
EGI
$56.5K $18.91/SF
− OpEx
−$17.0K −$5.67/SF
NOI
$39.6K $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%
$791,540
Cap Rate 7%
$565,386
Cap Rate 9%
$439,744
Alternative Uses
Best Use
Multifamily LT 5
$565.4K
$494.7K – $659.6K
NOI $39,577 @ 7.0% cap · market cap 8.09%
Second Best
Apartment 5plus
$523.9K
$458.5K – $611.3K
NOI $36,676 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$941.1K
$823.5K – $1.10M
NOI $65,876 @ 7.0% cap · market cap 13.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
84
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 - Two residential units offer flexible owner-occupancy and rental-income potential with contemporary interior finishes.
Where is this duplex located?
The property is located at 2421 Herb Ave S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Brand‑new duplex with 2990 SF of total building area; Each unit includes 2 bedrooms, 2 bathrooms, and a den; One unit is already leased with rental income in place
