Duplex With One-Car
For Sale
$499,000
4450/4452 24th St SW, Lehigh Acres, FL 33973
MULTI_FAMILY - Other - LEHIGH ACRES, FL
Property Size2,396 SF
Lot Size0.28 Acres
Price / SF$208.26
Days on Market293
Property Features for 4450/4452 24th St SW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
RM-2
Bedrooms
6
Rooms
Bedroom 2, Bedroom 6, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 5
Pets allowed
Yes
Subdivision
LEHIGH ACRES
Lot features
Oversize, Regular, Oversize, Regular
Standard status
Active
APN
04-45-26-L3-05011.0380
Size
2,396 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LEHIGH ESTATES UNIT 5 BLK.11 PB 15 PG 85 LOT 38
Tax Annual Amount
554
Legal Description
LEHIGH ESTATES UNIT 5 BLK.11 PB 15 PG 85 LOT 38
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Well
Building Details
Year built
2025
Number of units
2
Flooring type
Tile
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Premiere Plus Realty Company
(239) 732-7837
Listed By:
Gio Valencia · License #249525717
(239) 285-9065
Added: Oct 28, 2025
Changed: Aug 13
Last Checked: Aug 16 at 10:06AM
MLS# 225074664
Copyright © 2026 Naples Area Board of REALTORS. 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 under-construction 2025 duplex offers modern finishes and practical layout details designed for tenant comfort. The plan includes six bedrooms and four bathrooms across both units, with 24x24 ceramic tile flooring, recessed LED lights, and spiral pendant fixtures. Kitchens feature quartz Calacatta Plata countertops with a waterfall edge, matching backsplash and window sills, stainless steel appliances, and wood cabinetry with black hardware. Primary suites include rainfall shower heads with LED color options and handheld sprayers, while secondary baths provide additional shower setups. Each unit includes a one-car garage, dedicated laundry areas, and epoxy-style flooring, along with planned storage such as custom closets and ventilated pantry shelving.
The property is built with concrete block and stucco, with electric central heating and central air conditioning, and a shingle roof. It also includes impact-rated doors/windows, sprinkler irrigation, rock landscaping, and full gutters/soffits, plus a 1-year systems/appliance warranty and a 10-year structural warranty. Zoning is RM-2, and the lot size is 0.278 acres with a total property size of 2,396 square feet.
The property is built with concrete block and stucco, with electric central heating and central air conditioning, and a shingle roof. It also includes impact-rated doors/windows, sprinkler irrigation, rock landscaping, and full gutters/soffits, plus a 1-year systems/appliance warranty and a 10-year structural warranty. Zoning is RM-2, and the lot size is 0.278 acres with a total property size of 2,396 square feet.
Key Highlights
- Under‑construction 2025 duplex with six bedrooms and four bathrooms
- RM‑2 zoning
- 0.278‑acre lot size and 2,396 square feet total
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
$31,714
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
6.36%
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%
$634,280
$634.3K
Cap Rate 7%
$453,057
$453.1K
Cap Rate 9%
$352,378
$352.4K
Market Conditions
NOI Build-Up for 2,396 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
$47.4K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$45.3K $18.91/SF
− OpEx
−$13.6K −$5.67/SF
NOI
$31.7K $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%
$634,280
Cap Rate 7%
$453,057
Cap Rate 9%
$352,378
Alternative Uses
Best Use
Multifamily LT 5
$453.1K
$396.4K – $528.6K
NOI $31,714 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$419.9K
$367.4K – $489.8K
NOI $29,390 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$754.1K
$659.9K – $879.8K
NOI $52,789 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
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 - Under-construction 2025 duplex with tile flooring, impact-rated openings, and one-car garages for each unit in RM-2 zoning.
Where is this duplex located?
The property is located at 4450/4452 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: Under‑construction 2025 duplex with six bedrooms and four bathrooms; RM‑2 zoning; 0.278‑acre lot size and 2,396 square feet total
