Renovated Two-Unit
For Sale
$330,000
423-11421 Kimble Dr, Fort Myers, FL 33908
Two updated residences offer flexible owner-occupant or rental use near coastal amenities.
Property Size1,816 SF
Price / SF$181.72
Days on Market453
Property Features for 423-11421 Kimble Dr
General Information
Standard status
Active
Size
1,816 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,687
Building Details
Buildings
1
Listing Agency:
DomainRealty.com LLC
(239) 747-5587
Listed By:
Daniel Clarkston · License #258027589
(239) 747-5587
Source:
Exprealty
Added: May 23, 2025
Changed: Aug 15
Last Checked: Aug 17 at 8:57PM
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 DomainRealty.com LLC
Investment Insights
Based on property information with market context.
This duplex contains 1,816 square feet arranged as two 2-bedroom, 1-bathroom residences. The property was fully renovated following Hurricane Ian, with updated finishes throughout and both units described as move-in ready.
The property is in the Linda Loma neighborhood of Fort Myers, minutes from the beach and near Walmart, Publix, UPS, and several restaurants. Its two-unit configuration supports either occupancy of one residence with rental use for the other or operation as a rental property, including long-term or short-term arrangements as stated in the property information.
The property is in the Linda Loma neighborhood of Fort Myers, minutes from the beach and near Walmart, Publix, UPS, and several restaurants. Its two-unit configuration supports either occupancy of one residence with rental use for the other or operation as a rental property, including long-term or short-term arrangements as stated in the property information.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units
- 1,816 square feet across the duplex
- Fully renovated following Hurricane Ian
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
$24,037
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
7.28%
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%
$480,740
$480.7K
Cap Rate 7%
$343,386
$343.4K
Cap Rate 9%
$267,078
$267.1K
Market Conditions
NOI Build-Up for 1,816 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
$36.0K $19.80/SF
− Vacancy
−$1.6K −$0.89/SF
EGI
$34.3K $18.91/SF
− OpEx
−$10.3K −$5.67/SF
NOI
$24.0K $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%
$480,740
Cap Rate 7%
$343,386
Cap Rate 9%
$267,078
Alternative Uses
Best Use
Multifamily LT 5
$343.4K
$300.5K – $400.6K
NOI $24,037 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$318.2K
$278.4K – $371.3K
NOI $22,275 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$571.6K
$500.1K – $666.8K
NOI $40,010 @ 7.0% cap · market cap 12.12%
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
521
Businesses Nearby
Explore this area
Business Placement
Demographics for 33908, FL
43,110
Population
32,067
Households
1.3
Avg Household Size
63
Median Age
44%
College-Educated
96%
High-School Grad
34.2 sq mi
ZIP Area
1,261
Density / Sq Mi
$74,711
Median Household Income
$50,063
Median Earnings
$1,829
Median Rent
$346,200
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 updated residences offer flexible owner-occupant or rental use near coastal amenities.
Where is this duplex located?
The property is located at 423-11421 Kimble Dr Fort Myers, FL.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units; 1,816 square feet across the duplex; Fully renovated following Hurricane Ian
