Newly Built Duplex with
For Sale
$499,999
4521/4523 24th St SW, Lehigh Acres, FL 33973
Two residential units offer upgraded kitchens, spacious layouts, and primary suites with walk-in closets.
Property Size2,392 SF
Price / SF$209.03
Days on Market289
Property Features for 4521/4523 24th St SW
General Information
Standard status
Active
Size
2,392 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Furnished
No
Building Details
Year Built
2025
Buildings
1
Listing Agency:
MGR Realty Services, Inc.
(239) 289-4312
Listed By:
Katia Pazo · License #258023860
Source:
Naplesareahomesearch
Added: Nov 16, 2025
Changed: Aug 31
Last Checked: Aug 31 at 5:51PM
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 MGR Realty Services, Inc.
Investment Insights
Based on property information with market context.
Built in 2025, this duplex includes two residential units, each offering three bedrooms, two bathrooms, and 1,196 square feet of living area. Interior finishes include porcelain tile flooring, stainless steel appliances, quartz countertops, wood cabinetry, dual sinks in the primary bathroom, and a walk-in primary closet. Tray ceilings add detail to the living, dining, and primary bedroom areas, while the floor plan is designed for a spacious interior feel.
The property is located at 4521/4523 24th St SW in Lehigh Acres, with access to Fort Myers. It is identified as not being in a flood zone and has a certificate of occupancy issued 05/07/2025. The duplex is presented as ready for occupancy.
The property is located at 4521/4523 24th St SW in Lehigh Acres, with access to Fort Myers. It is identified as not being in a flood zone and has a certificate of occupancy issued 05/07/2025. The duplex is presented as ready for occupancy.
Key Highlights
- Duplex with 2 residential units
- Each unit includes 3 bedrooms and 2 bathrooms
- Each side provides 1,196 SF of living area
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
$31,661
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
6.33%
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%
$633,220
$633.2K
Cap Rate 7%
$452,300
$452.3K
Cap Rate 9%
$351,789
$351.8K
Market Conditions
NOI Build-Up for 2,392 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
$45.2K $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%
$633,220
Cap Rate 7%
$452,300
Cap Rate 9%
$351,789
Alternative Uses
Best Use
Multifamily LT 5
$452.3K
$395.8K – $527.7K
NOI $31,661 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$419.2K
$366.8K – $489.0K
NOI $29,341 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$752.9K
$658.8K – $878.4K
NOI $52,701 @ 7.0% cap · market cap 10.54%
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 - Two residential units offer upgraded kitchens, spacious layouts, and primary suites with walk-in closets.
Where is this duplex located?
The property is located at 4521/4523 24th St SW Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: Duplex with 2 residential units; Each unit includes 3 bedrooms and 2 bathrooms; Each side provides 1,196 SF of living area
