Upgraded 4BR Duplex with Hurricane
For Sale
Contact for pricing
3857/3859 KITTYHAWK DRIVE, Fort Myers, FL 33905
Duplex with two 4-bedroom, 4-bath units, one month-to-month rental, and a vacant unit with a full washer and dryer.
Property Size2,930 SF
Lot Size0.33 Acres
Price / SF$136.45
Days on Market67
Property Features for 3857/3859 KITTYHAWK DRIVE
General Information
Standard status
Active
Size
2,930 SF
Total Parking Spaces
4
Lot size
0.33 Acres
Property subtype
Multifamily
Zoning
MULTI UNIT
Occupancy
50%
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
2007
Tenancy
Multi
Listing Agency:
Keller Williams Properties
Listed By:
Harvey Abraham · License #0343641
Source:
Crexi
Added: Jun 13
Changed: Aug 8
Last Checked: Aug 18 at 5:31PM
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 Keller Williams Properties
Investment Insights
Based on property information with market context.
This upgraded duplex offers spacious, contractor-built living with two 4-bedroom, 4-bath units. One unit is currently rented on a month-to-month basis, while the second unit is vacant and includes a full-sized washer and dryer. The layout is designed to support comfortable day-to-day living across both units, and both sides include a water softener and aerator. Hurricane protection features are a key part of the property, with hurricane shutters included and hurricane garage doors. Additional exterior convenience is provided by extended driveways.
The property is located in Buckingham, approximately 1/3 acre, at 3857 Kittyhawk Drive in Fort Myers, Florida. The duplex configuration and separate unit status make it workable for multiple tenant scenarios, including owner occupancy with rental income.
For buyers seeking a residential income property, this duplex provides a straightforward two-unit structure with distinct tenancy in place today. The month-to-month arrangement in one unit may appeal to operators who prefer flexibility, while the vacant unit offers an immediate option for a new tenant or for personal use. The in-unit washer and dryer in the vacant unit adds practical value for prospective occupants, and the hurricane-rated features can be an important consideration in Florida.
The property is located in Buckingham, approximately 1/3 acre, at 3857 Kittyhawk Drive in Fort Myers, Florida. The duplex configuration and separate unit status make it workable for multiple tenant scenarios, including owner occupancy with rental income.
For buyers seeking a residential income property, this duplex provides a straightforward two-unit structure with distinct tenancy in place today. The month-to-month arrangement in one unit may appeal to operators who prefer flexibility, while the vacant unit offers an immediate option for a new tenant or for personal use. The in-unit washer and dryer in the vacant unit adds practical value for prospective occupants, and the hurricane-rated features can be an important consideration in Florida.
Key Highlights
- 2007‑built duplex with two 4‑bedroom, 4‑bath units
- One unit is rented month‑to‑month; the second unit is vacant
- Vacant unit includes a full‑sized washer and dryer
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
$35,940
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
8.99%
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%
$718,800
$718.8K
Cap Rate 7%
$513,429
$513.4K
Cap Rate 9%
$399,333
$399.3K
Market Conditions
NOI Build-Up for 2,930 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
$68.2K $23.28/SF
− Vacancy
−$2.9K −$0.98/SF
EGI
$65.3K $22.30/SF
− OpEx
−$29.4K −$10.04/SF
NOI
$35.9K $12.27/SF
Area
Lee County, FL
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$718,800
Cap Rate 7%
$513,429
Cap Rate 9%
$399,333
Alternative Uses
Best Use
Multifamily LT 5
$554.0K
$484.8K – $646.4K
NOI $38,782 @ 7.0% cap · market cap 9.70%
Second Best
Apartment 5plus
$513.4K
$449.3K – $599.0K
NOI $35,940 @ 7.0% cap · market cap 8.99%
Theoretical Best
Office A
$922.2K
$806.9K – $1.08M
NOI $64,554 @ 7.0% cap · market cap 16.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Explore this area
Business Placement
Demographics for 33905, FL
37,692
Population
17,337
Households
2.2
Avg Household Size
41
Median Age
22%
College-Educated
79%
High-School Grad
40.2 sq mi
ZIP Area
938
Density / Sq Mi
$70,009
Median Household Income
$36,923
Median Earnings
$1,509
Median Rent
$260,400
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 - Duplex with two 4-bedroom, 4-bath units, one month-to-month rental, and a vacant unit with a full washer and dryer.
Where is this duplex located?
The property is located at 3857/3859 KITTYHAWK DRIVE Fort Myers, FL.
What is the asking price?
The asking price for this property is $399,800.
What are key features of this property?
This property features: 2007‑built duplex with two 4‑bedroom, 4‑bath units; One unit is rented month‑to‑month; the second unit is vacant; Vacant unit includes a full‑sized washer and dryer
