Remodeled Duplex with Screened
For Sale
$364,900
2431-2429 Nobel Ave, Lehigh Acres, FL 33973
Two mirrored residences offer flexible layouts, screened outdoor areas, and a combination of leased and recently remodeled space.
Property Size1,125 SF
Price / SF$324.36
Days on Market70
Property Features for 2431-2429 Nobel Ave
General Information
Standard status
Active
Size
1,125 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$4,343
Listing Agency:
Ace Realty & Associates, LLC
(239) 834-1988
Listed By:
Tarcilla Vianna · License #252013310
(239) 834-1988
Source:
Exprealty
Added: Jun 9
Changed: Aug 16
Last Checked: Aug 16 at 2:37PM
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 Ace Realty & Associates, LLC
Investment Insights
Based on property information with market context.
This duplex contains two residences, each configured with two bedrooms, a den, and two bathrooms. Both sides include screened lanais, while one residence has recently undergone remodeling. The property measures 1,125 square feet in total.
One side is occupied under a lease running through February 2027, with the tenant willing to renew. The other side is vacant and recently remodeled, providing a distinct occupancy profile within the same two-unit property. The duplex is located at 2431-2429 Nobel Ave in Lehigh Acres, Florida.
One side is occupied under a lease running through February 2027, with the tenant willing to renew. The other side is vacant and recently remodeled, providing a distinct occupancy profile within the same two-unit property. The duplex is located at 2431-2429 Nobel Ave in Lehigh Acres, Florida.
Key Highlights
- Two‑unit duplex with 2 bedrooms, a den, and 2 bathrooms on each side
- Screened lanais included with both residences
- One side leased through February 2027; tenant willing to renew
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
$14,891
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
4.08%
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%
$297,820
$297.8K
Cap Rate 7%
$212,729
$212.7K
Cap Rate 9%
$165,456
$165.5K
Market Conditions
NOI Build-Up for 1,125 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
$22.3K $19.80/SF
− Vacancy
−$1.0K −$0.89/SF
EGI
$21.3K $18.91/SF
− OpEx
−$6.4K −$5.67/SF
NOI
$14.9K $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%
$297,820
Cap Rate 7%
$212,729
Cap Rate 9%
$165,456
Alternative Uses
Best Use
Multifamily LT 5
$212.7K
$186.1K – $248.2K
NOI $14,891 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$197.1K
$172.5K – $230.0K
NOI $13,800 @ 7.0% cap · market cap 3.78%
Theoretical Best
Office A
$354.1K
$309.8K – $413.1K
NOI $24,786 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
88
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 mirrored residences offer flexible layouts, screened outdoor areas, and a combination of leased and recently remodeled space.
Where is this duplex located?
The property is located at 2431-2429 Nobel Ave Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $364,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms, a den, and 2 bathrooms on each side; Screened lanais included with both residences; One side leased through February 2027; tenant willing to renew
