Duplex with Separate
For Sale
$424,900
Pending
27730 Pierce Ave Unit 732, Bonita Springs, FL 34135
Two residential units feature private entries, interior laundry rooms, and tile flooring throughout.
Property Size1,914 SF
Days on Market230
Property Features for 27730 Pierce Ave Unit 732
General Information
Standard status
Pending
Size
1,914 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
laundry rooms inside
private entrances
separate driveways
Building Details
Year Built
1989
Buildings
1
Listing Agency:
Premiere Plus Realty Company
(239) 732-7837
Listed By:
Shawn Hyland
Source:
Naplesareapropertysearch
Added: Jan 10
Changed: Aug 27
Last Checked: Aug 25 at 7:18AM
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 Premiere Plus Realty Company
Investment Insights
Based on property information with market context.
This duplex contains 1,914 square feet and was built in 1989. Both residences are arranged with private entrances on opposite sides of the structure, separate driveways, tile flooring throughout, and dedicated laundry rooms inside each unit. The configuration provides distinct access for both households.
The property is located in Bonita Springs, a few miles from Naples, the I-75 ramp at Exit 116, and Bonita Beach. New dining and shopping venues are also identified nearby. Existing leases for both units expire 11/30/26.
The property is located in Bonita Springs, a few miles from Naples, the I-75 ramp at Exit 116, and Bonita Beach. New dining and shopping venues are also identified nearby. Existing leases for both units expire 11/30/26.
Key Highlights
- 1,914‑square‑foot duplex built in 1989
- Private entrances positioned on opposite sides of the structure
- Separate driveways serve the two 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
$25,334
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
5.96%
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%
$506,680
$506.7K
Cap Rate 7%
$361,914
$361.9K
Cap Rate 9%
$281,489
$281.5K
Market Conditions
NOI Build-Up for 1,914 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
$37.9K $19.80/SF
− Vacancy
−$1.7K −$0.89/SF
EGI
$36.2K $18.91/SF
− OpEx
−$10.9K −$5.67/SF
NOI
$25.3K $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%
$506,680
Cap Rate 7%
$361,914
Cap Rate 9%
$281,489
Alternative Uses
Best Use
Multifamily LT 5
$361.9K
$316.7K – $422.2K
NOI $25,334 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$335.4K
$293.5K – $391.3K
NOI $23,478 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$602.4K
$527.1K – $702.8K
NOI $42,169 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
Explore this area
Business Placement
Demographics for 34135, FL
45,518
Population
30,904
Households
1.5
Avg Household Size
60
Median Age
39%
College-Educated
88%
High-School Grad
61.8 sq mi
ZIP Area
737
Density / Sq Mi
$86,731
Median Household Income
$37,952
Median Earnings
$1,790
Median Rent
$419,200
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 feature private entries, interior laundry rooms, and tile flooring throughout.
Where is this duplex located?
The property is located at 27730 Pierce Ave Unit 732 Bonita Springs, FL.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: 1,914‑square‑foot duplex built in 1989; Private entrances positioned on opposite sides of the structure; Separate driveways serve the two units
