Renovated Duplex with Private
For Sale
$369,000
2648 Michigan Ave, Fort Myers, FL 33916
Two updated residences feature separate laundry rooms, a central carport, and outdoor space near downtown Fort Myers.
Property Size1,340 SF
Lot Size0.33 Acres
Price / SF$275.37
Days on Market75
Property Features for 2648 Michigan Ave
General Information
Standard status
Active
Size
1,340 SF
Lot size
0.33 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
private laundry room
Building Details
Year Built
1957
Listing Agency:
Steves Property Group LLC
Listed By:
Steve O'Brien · License #258016654
(239) 994-0855
Source:
Swfloridarealestate
Added: Aug 5
Changed: Oct 16
Last Checked: Oct 7 at 1:51PM
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 Steves Property Group LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex contains 1,340 square feet arranged as two residences, each with 2 bedrooms and 1 bathroom. The interiors have been comprehensively renovated with new cabinetry, countertops, appliances, laminate flooring, electrical wiring, plumbing, and air-conditioning systems. A new roof, private laundry room for each unit, and a central carport separating the residences complete the improvements. The property was built in 1957 and renovations were fully permitted.
The building occupies an oversized 1/3-acre lot in the historic Fort Myers area. On-site parking and outdoor space support the two-unit configuration, while the Downtown River District is within walking distance, with restaurants, shopping, entertainment, and nightlife nearby.
The building occupies an oversized 1/3-acre lot in the historic Fort Myers area. On-site parking and outdoor space support the two-unit configuration, while the Downtown River District is within walking distance, with restaurants, shopping, entertainment, and nightlife nearby.
Key Highlights
- Two‑unit duplex with 1,340 square feet of building area
- Each unit includes 2 bedrooms and 1 bathroom
- Renovated electrical, plumbing, air conditioning, flooring, cabinets, countertops, and appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,737
Cap Rate
4.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$354,740
$354.7K
Cap Rate 7%
$253,386
$253.4K
Cap Rate 9%
$197,078
$197.1K
Market Conditions
NOI Build-Up for 1,340 SF
Gross rent
$26.5K $19.80/SF
− Vacancy
−$1.2K −$0.89/SF
EGI
$25.3K $18.91/SF
− OpEx
−$7.6K −$5.67/SF
NOI
$17.7K $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%
$354,740
Cap Rate 7%
$253,386
Cap Rate 9%
$197,078
Alternative Uses
Best Use
Multifamily LT 5
$253.4K
$221.7K – $295.6K
NOI $17,737 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$234.8K
$205.5K – $274.0K
NOI $16,437 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$421.8K
$369.0K – $492.1K
NOI $29,523 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,055
Businesses Nearby
Explore this area
Business Placement
Demographics for 33916, FL
25,940
Population
12,480
Households
2.1
Avg Household Size
34
Median Age
21%
College-Educated
81%
High-School Grad
10.3 sq mi
ZIP Area
2,518
Density / Sq Mi
$49,353
Median Household Income
$32,770
Median Earnings
$1,363
Median Rent
$242,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two updated residences feature separate laundry rooms, a central carport, and outdoor space near downtown Fort Myers.
Where is this duplex located?
The property is located at 2648 Michigan Ave Fort Myers, 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‑unit duplex with 1,340 square feet of building area; Each unit includes 2 bedrooms and 1 bathroom; Renovated electrical, plumbing, air conditioning, flooring, cabinets, countertops, and appliances
