Renovated Duplex with Canal-Backed
For Sale
$479,997
4509-4511 28th St SW, Lehigh Acres, FL 33973
Two updated units include private patios, dedicated laundry rooms, and refreshed kitchens and baths.
Property Size2,302 SF
Price / SF$208.51
Days on Market204
Property Features for 4509-4511 28th St SW
General Information
Standard status
Active
Size
2,302 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
private patios
canal view
garage
in-unit laundry
stainless steel appliances
Building Details
Year Built
2004
Listing Agency:
No Nonsense Real Estate PA
Listed By:
Christopher Cioffi · License #258008916
(239) 410-5099
Source:
Naplespropertyguide
Added: Mar 28
Changed: Oct 1
Last Checked: Oct 16 at 9:33AM
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 No Nonsense Real Estate PA
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Investment Insights
Based on property information with market context.
This 2,302-square-foot duplex, built in 2004, has been extensively updated inside and out. Improvements include a dimensional shingle roof, two A/C systems, hurricane-impact front doors, upgraded garage doors, updated water heaters, fresh interior and exterior paint, epoxy-finished garage floors, a paver driveway, and rear patios. Each unit has luxury vinyl flooring, a redesigned kitchen with quartz countertops and stainless steel appliances, an updated bathroom, modern lighting and hardware, oversized sliding doors, and a dedicated interior laundry room.
The backyard borders a canal, providing separation behind the property. The duplex is positioned between Daniels Parkway and Lee Boulevard, approximately 3 minutes from Fort Myers, with access to Southwest Florida International Airport, JetBlue Park, and the State Road 82 corridor. The property is not in a flood zone. A sale with tenants in place before closing is subject to negotiation.
The backyard borders a canal, providing separation behind the property. The duplex is positioned between Daniels Parkway and Lee Boulevard, approximately 3 minutes from Fort Myers, with access to Southwest Florida International Airport, JetBlue Park, and the State Road 82 corridor. The property is not in a flood zone. A sale with tenants in place before closing is subject to negotiation.
Key Highlights
- 2,302 SF duplex built in 2004
- Extensive interior and exterior renovations, including two New A/C systems and a New roof
- Each unit includes a redesigned kitchen, updated bathroom, private patio, and dedicated interior laundry room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,470
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$609,400
$609.4K
Cap Rate 7%
$435,286
$435.3K
Cap Rate 9%
$338,556
$338.6K
Market Conditions
NOI Build-Up for 2,302 SF
Gross rent
$45.6K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$43.5K $18.91/SF
− OpEx
−$13.1K −$5.67/SF
NOI
$30.5K $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 Rate 5%
$609,400
Cap Rate 7%
$435,286
Cap Rate 9%
$338,556
Alternative Uses
Best Use
Multifamily LT 5
$435.3K
$380.9K – $507.8K
NOI $30,470 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$403.4K
$353.0K – $470.6K
NOI $28,237 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$724.5K
$634.0K – $845.3K
NOI $50,718 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two updated units include private patios, dedicated laundry rooms, and refreshed kitchens and baths.
Where is this duplex located?
The property is located at 4509-4511 28th St SW Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $479,997.
What are key features of this property?
This property features: 2,302 SF duplex built in 2004; Extensive interior and exterior renovations, including two New A/C systems and a New roof; Each unit includes a redesigned kitchen, updated bathroom, private patio, and dedicated interior laundry room
