Duplex with Private Fenced
New
For Sale
$364,900
4507 20TH STREET SW, Lehigh Acres, FL 33973
Two separate three-bedroom residences offer a flexible occupancy setup, with one unit tenant-occupied and the other vacant.
Property Size2,370 SF
Price / SF$153.97
Days on Market3
Property Features for 4507 20TH STREET SW
General Information
Standard status
Active
Size
2,370 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
2006
Listing Agency:
MARINA PARK REALTY LLC
(941) 205-0888
Listed By:
Matthew Overmyer · License #3538813
(321) 290-3943
Source:
Dennisrealty
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 1 at 1:58PM
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 MARINA PARK REALTY LLC
Investment Insights
Based on property information with market context.
This 2006 duplex contains two matching residences, each with 3 bedrooms, 2 bathrooms, and approximately 1,185 square feet. Both feature tile flooring, an open living and dining area connected to the kitchen, a primary suite with a walk-in closet, and two additional bedrooms. Each unit also has an attached single-car garage, laundry area, private patio, and fenced backyard. A/C systems and water heaters were replaced in 2025; storm shutters and hurricane-impact garage doors are also in place.
Unit 4505 is tenant-occupied, while 4507 is vacant. The property is in Lehigh Acres, with shopping, dining, grocery stores, schools, and parks nearby. State Road 82 and I-75 provide regional road access.
Unit 4505 is tenant-occupied, while 4507 is vacant. The property is in Lehigh Acres, with shopping, dining, grocery stores, schools, and parks nearby. State Road 82 and I-75 provide regional road access.
Key Highlights
- Two residences, each with 3 bedrooms, 2 bathrooms, and approximately 1,185 square feet
- Unit 4505 is tenant‑occupied; Unit 4507 is vacant
- Each unit has an attached single‑car garage measuring approximately 13'11" x 23'2"
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
$31,370
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
8.60%
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%
$627,400
$627.4K
Cap Rate 7%
$448,143
$448.1K
Cap Rate 9%
$348,556
$348.6K
Market Conditions
NOI Build-Up for 2,370 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
$46.9K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$44.8K $18.91/SF
− OpEx
−$13.4K −$5.67/SF
NOI
$31.4K $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%
$627,400
Cap Rate 7%
$448,143
Cap Rate 9%
$348,556
Alternative Uses
Best Use
Multifamily LT 5
$448.1K
$392.1K – $522.8K
NOI $31,370 @ 7.0% cap · market cap 8.60%
Second Best
Apartment 5plus
$415.3K
$363.4K – $484.5K
NOI $29,071 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$745.9K
$652.7K – $870.3K
NOI $52,216 @ 7.0% cap · market cap 14.31%
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
105
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 - Two separate three-bedroom residences offer a flexible occupancy setup, with one unit tenant-occupied and the other vacant.
Where is this duplex located?
The property is located at 4507 20TH STREET SW Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $364,900.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms, 2 bathrooms, and approximately 1,185 square feet; Unit 4505 is tenant‑occupied; Unit 4507 is vacant; Each unit has an attached single‑car garage measuring approximately 13'11" x 23'2"
