Newly Built Three-Bedroom
For Sale
$499,000
4446-4448 24th St SW, Lehigh Acres, FL 33973
Each residence includes an attached garage and an open-concept kitchen with an island and breakfast bar.
Property Size2,400 SF
Price / SF$207.92
Days on Market189
Property Features for 4446-4448 24th St SW
General Information
Standard status
Active
Size
2,400 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
1
Additional Details
Highway Access
Yes
Amenities
high ceilings
tile floors
open-concept kitchen
island
breakfast bar
quartz countertops
hurricane impact windows
walk in shower
floor to ceiling tile
private patio
large backyard
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Compass Florida LLC
(239) 900-9006
Listed By:
Ian Alters · License #3509958
Source:
Swflhousesforsale
Added: Feb 24
Changed: Aug 31
Last Checked: Aug 31 at 5:21PM
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 Compass Florida LLC
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex provides 2,400 square feet of living space across two residences. Each unit contains three bedrooms, two bathrooms, and a one-car attached garage. Interior features include high ceilings, tile flooring, quartz countertops, and open-concept kitchens with islands and breakfast bars. Hurricane impact windows and walk-in showers finished with floor-to-ceiling tile add to the property’s construction and interior specifications.
Outdoor features include a private patio and a large backyard. The property is next to Gateway Charter School and the Amazon fulfillment center, with access to State Route 82 for travel throughout Fort Myers and Southwest Florida. A Home Depot is also identified as coming soon in the surrounding area.
Outdoor features include a private patio and a large backyard. The property is next to Gateway Charter School and the Amazon fulfillment center, with access to State Route 82 for travel throughout Fort Myers and Southwest Florida. A Home Depot is also identified as coming soon in the surrounding area.
Key Highlights
- Two‑unit duplex with 2,400 square feet of living space
- Each unit offers 3 bedrooms, 2 bathrooms, and a one‑car attached garage
- Built in 2026 with high ceilings and tile flooring throughout
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
$31,767
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
6.37%
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%
$635,340
$635.3K
Cap Rate 7%
$453,814
$453.8K
Cap Rate 9%
$352,967
$353.0K
Market Conditions
NOI Build-Up for 2,400 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
$47.5K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$45.4K $18.91/SF
− OpEx
−$13.6K −$5.67/SF
NOI
$31.8K $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%
$635,340
Cap Rate 7%
$453,814
Cap Rate 9%
$352,967
Alternative Uses
Best Use
Multifamily LT 5
$453.8K
$397.1K – $529.5K
NOI $31,767 @ 7.0% cap · market cap 6.37%
Second Best
Apartment 5plus
$420.6K
$368.0K – $490.7K
NOI $29,439 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$755.4K
$661.0K – $881.3K
NOI $52,877 @ 7.0% cap · market cap 10.60%
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
96
Businesses Nearby
Explore this area
Business Placement
Demographics for 33973, FL
12,728
Population
4,286
Households
3
Avg Household Size
28
Median Age
11%
College-Educated
81%
High-School Grad
3.8 sq mi
ZIP Area
3,349
Density / Sq Mi
$57,216
Median Household Income
$34,676
Median Earnings
$1,432
Median Rent
$334,800
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 - Each residence includes an attached garage and an open-concept kitchen with an island and breakfast bar.
Where is this duplex located?
The property is located at 4446-4448 24th St SW Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,400 square feet of living space; Each unit offers 3 bedrooms, 2 bathrooms, and a one‑car attached garage; Built in 2026 with high ceilings and tile flooring throughout
