Lakefront
For Sale
$799,000
3940 Bennett Ln, Bonita Springs, FL 34134
Residential Income, Bonita Springs, FL
Property Size2,288 SF
Lot Size0.21 Acres
Price / SF$349.21
Days on Market9
Property Features for 3940 Bennett Ln
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 3, Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 3, Laundry Room
View
Lake
High school district
000000
Standard status
Active
APN
000000-000.000-0000-065.000
Size
2,288 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5591
Utilities
Heating system
Forced Air, Electric (Heating)
Water source
Public
Water front features
Lake Front
Water front
1
Amenities
lake access
docks
Building Details
Year built
1987
Floors in Building
2
Flooring type
Tile, Laminate
Building materials
Wood Siding
Roof type
Metal
Architectural style
Other
Listing Agency:
Cachon Realty Group
Listed By:
Lisa Cachon
Added: Aug 24
Changed: Sep 1
Last Checked: Sep 1 at 2:06PM
MLS# 11953695
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,288-square-foot triplex contains three independent residences with a combined five bedrooms and four full bathrooms. The two ground-floor homes each offer one bedroom and one bathroom and underwent plumbing and electrical updates in 2025. The upper residence is vacant and provides three bedrooms, two bathrooms, and approximately 1,200 square feet of living area. Its renovated kitchen features white shaker cabinetry and quartz countertops, while a screened lanai extends toward the lake views.
Set on 0.21 acres with lake frontage, the property includes two small docks and space for a pool. Built in 1987, the building has wood siding, a metal roof, tile and laminate flooring, electric heating, forced-air heating, and public water. The three-residence configuration supports separate occupancy arrangements, including use of the upper home alongside the two lower residences.
Set on 0.21 acres with lake frontage, the property includes two small docks and space for a pool. Built in 1987, the building has wood siding, a metal roof, tile and laminate flooring, electric heating, forced-air heating, and public water. The three-residence configuration supports separate occupancy arrangements, including use of the upper home alongside the two lower residences.
Key Highlights
- Three‑residence triplex with 5 bedrooms and 4 full baths
- 2,288 square feet on a 0.21‑acre lakefront parcel
- Two 1‑bedroom, 1‑bath units renovated in 2025
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
$30,285
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
3.79%
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%
$605,700
$605.7K
Cap Rate 7%
$432,643
$432.6K
Cap Rate 9%
$336,500
$336.5K
Market Conditions
NOI Build-Up for 2,288 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
$45.3K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$43.3K $18.91/SF
− OpEx
−$13.0K −$5.67/SF
NOI
$30.3K $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%
$605,700
Cap Rate 7%
$432,643
Cap Rate 9%
$336,500
Alternative Uses
Best Use
Multifamily LT 5
$432.6K
$378.6K – $504.8K
NOI $30,285 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$400.9K
$350.8K – $467.8K
NOI $28,065 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$720.1K
$630.1K – $840.2K
NOI $50,409 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
983
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences include renovated units and a vacant upper-level home.
Where is this triplex located?
The property is located at 3940 Bennett Ln Bonita Springs, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Three‑residence triplex with 5 bedrooms and 4 full baths; 2,288 square feet on a 0.21‑acre lakefront parcel; Two 1‑bedroom, 1‑bath units renovated in 2025
