Duplex with Updated
For Sale
$363,890
2433 George Ave S, Lehigh Acres, FL 33973
Two-unit property with one ready-to-occupy residence and a second side currently occupied.
Property Size2,516 SF
Price / SF$144.63
Days on Market43
Property Features for 2433 George Ave S
General Information
Standard status
Active
Size
2,516 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2003
Listing Agency:
The Simonelli Real Estate Grp
(850) 259-2910
Listed By:
Stetson Miller · License #258028865
Source:
Swflhomesource
Added: Jul 21
Changed: Aug 31
Last Checked: Aug 31 at 5:28PM
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 The Simonelli Real Estate Grp
Investment Insights
Based on property information with market context.
Built in 2003, this duplex contains 2,516 square feet and includes a 2+den, 2-bath unit that is ready for occupancy. The other unit is currently occupied, providing an existing two-unit configuration for an owner-occupant or investor. The property is located in Lehigh Acres and is outside a flood zone.
Recent system updates include a roof installed in 2023 and air-conditioning replacements completed in 2023 and 2018. These improvements complement the established residential structure and provide clear documentation of major capital work.
Recent system updates include a roof installed in 2023 and air-conditioning replacements completed in 2023 and 2018. These improvements complement the established residential structure and provide clear documentation of major capital work.
Key Highlights
- 2,516‑square‑foot duplex built in 2003
- One 2+den, 2‑bath unit is move‑in‑ready
- Second unit is currently occupied
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
$33,303
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
9.15%
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%
$666,060
$666.1K
Cap Rate 7%
$475,757
$475.8K
Cap Rate 9%
$370,033
$370.0K
Market Conditions
NOI Build-Up for 2,516 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
$49.8K $19.80/SF
− Vacancy
−$2.2K −$0.89/SF
EGI
$47.6K $18.91/SF
− OpEx
−$14.3K −$5.67/SF
NOI
$33.3K $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%
$666,060
Cap Rate 7%
$475,757
Cap Rate 9%
$370,033
Alternative Uses
Best Use
Multifamily LT 5
$475.8K
$416.3K – $555.1K
NOI $33,303 @ 7.0% cap · market cap 9.15%
Second Best
Apartment 5plus
$440.9K
$385.8K – $514.4K
NOI $30,862 @ 7.0% cap · market cap 8.48%
Theoretical Best
Office A
$791.9K
$692.9K – $923.9K
NOI $55,433 @ 7.0% cap · market cap 15.23%
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
85
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-unit property with one ready-to-occupy residence and a second side currently occupied.
Where is this duplex located?
The property is located at 2433 George Ave S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $363,890.
What are key features of this property?
This property features: 2,516‑square‑foot duplex built in 2003; One 2+den, 2‑bath unit is move‑in‑ready; Second unit is currently occupied
