Renovated Gulf-Access
New
For Sale
$849,999
27633 635 Imperial Shores Blvd, Bonita Springs, FL 34134
Two updated rental units offer canal access, covered parking, and established short-term rental history near Bonita Beach.
Property Size1,950 SF
Price / SF$435.90
Days on Market4
Property Features for 27633 635 Imperial Shores Blvd
General Information
Standard status
Active
Size
1,950 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Parking per Unit
1
Building Details
Year Built
1971
Year Renovated
2024
Buildings
1
Listing Agency:
Knowledge Base Real Estate
Listed By:
Logan Lockwood · License #251535222
(239) 398-8934
Source:
Napleshomesearcher
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 21 at 7:23AM
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 Knowledge Base Real Estate
Investment Insights
Based on property information with market context.
This duplex contains two matching 2-bedroom, 2-bathroom residences, each measuring 975 square feet. Both units underwent full renovations in 2024, including new air-conditioning systems. Each side also has dedicated covered parking, while the roof was replaced in 2013. The property was built in 1971 and is located in the Imperial Shores community.
A Gulf-access canal behind the property connects by bridge to open water, with Bonita Beach less than 2 miles away. Dining and shopping are also described as nearby. Both residences have an established short-term rental history. The property experienced flooding during Hurricanes Ian and Milton.
A Gulf-access canal behind the property connects by bridge to open water, with Bonita Beach less than 2 miles away. Dining and shopping are also described as nearby. Both residences have an established short-term rental history. The property experienced flooding during Hurricanes Ian and Milton.
Key Highlights
- Two identical 2‑bedroom, 2‑bathroom units, each measuring 975 square feet
- Full property renovation completed in 2024
- New A/C systems installed in both units
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
$25,811
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
3.04%
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%
$516,220
$516.2K
Cap Rate 7%
$368,729
$368.7K
Cap Rate 9%
$286,789
$286.8K
Market Conditions
NOI Build-Up for 1,950 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
$38.6K $19.80/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$36.9K $18.91/SF
− OpEx
−$11.1K −$5.67/SF
NOI
$25.8K $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%
$516,220
Cap Rate 7%
$368,729
Cap Rate 9%
$286,789
Alternative Uses
Best Use
Multifamily LT 5
$368.7K
$322.6K – $430.2K
NOI $25,811 @ 7.0% cap · market cap 3.04%
Second Best
Apartment 5plus
$341.7K
$299.0K – $398.7K
NOI $23,919 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$613.7K
$537.0K – $716.0K
NOI $42,962 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
Explore this area
Business Placement
Demographics for 34134, FL
15,906
Population
15,051
Households
1.1
Avg Household Size
70
Median Age
55%
College-Educated
98%
High-School Grad
13.4 sq mi
ZIP Area
1,187
Density / Sq Mi
$122,102
Median Household Income
$56,170
Median Earnings
$1,814
Median Rent
$659,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two updated rental units offer canal access, covered parking, and established short-term rental history near Bonita Beach.
Where is this duplex located?
The property is located at 27633 635 Imperial Shores Blvd Bonita Springs, FL.
What is the asking price?
The asking price for this property is $849,999.
What are key features of this property?
This property features: Two identical 2‑bedroom, 2‑bathroom units, each measuring 975 square feet; Full property renovation completed in 2024; New A/C systems installed in both units
