Upgraded Ranch
For Sale
$499,999
4532/4534 22ND Street SW, Lehigh Acres, FL 33973
ResidentialIncome, Lehigh Acres, FL
Property Size3,280 SF
Lot Size0.28 Acres
Price / SF$152.44
Days on Market441
Property Features for 4532/4534 22ND Street SW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning description
RM-2
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 3, Bedroom 6, Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 4, Bathroom 3, Bedroom 5, Bathroom 2
Pets allowed
Yes
Subdivision
LEHIGH ACRES
Lot features
Oversized Lot
Directions
GPS
Standard status
Active
APN
04-45-26-L1-06005.0100
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
535
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Well
Amenities
Porcelain Tile Floor throughout
stainless steel appliances
quartz countertops
wood cabinets
dual cabinets
dual sinks in master bath
walk-in master closet
double tray ceilings
single tray ceilings
Building Details
Year built
2025
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Block, Concrete
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
MGR Realty Services, Inc.
(239) 491-6201
Listed By:
Katia Pazo · License #258023860
(239) 289-4312
Added: Jun 18, 2025
Changed: Aug 27
Last Checked: Sep 1 at 12:06PM
MLS# 225057131
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. 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 ranch-style duplex includes two mirrored residences, each with two bedrooms, a den, two bathrooms, 1,196 square feet of living area, and 1,640 square feet of total area. Interior features include tile flooring, quartz countertops, wood cabinetry, stainless steel appliances, dual sinks in the primary bathroom, a walk-in primary closet, and tray ceilings in the living, dining, and primary bedroom areas. Block and concrete construction, shingle roofing, central electric heating, and central air conditioning complete the physical profile.
The property occupies 0.28 acres at 4532/4534 22ND Street SW in Lehigh Acres, with access to Fort Myers. Water is supplied by a well, and wastewater service is provided by a septic tank. The property is not located in a flood zone and was built in 2025.
The property occupies 0.28 acres at 4532/4534 22ND Street SW in Lehigh Acres, with access to Fort Myers. Water is supplied by a well, and wastewater service is provided by a septic tank. The property is not located in a flood zone and was built in 2025.
Key Highlights
- Two‑unit duplex with 2 bedrooms plus a den and 2 bathrooms per side
- Each side offers 1,196 SF of living area and 1,640 SF of total area
- 0.28‑acre property at 4532/4534 22ND Street SW, Lehigh Acres
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
$43,415
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
8.68%
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%
$868,300
$868.3K
Cap Rate 7%
$620,214
$620.2K
Cap Rate 9%
$482,389
$482.4K
Market Conditions
NOI Build-Up for 3,280 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
$64.9K $19.80/SF
− Vacancy
−$2.9K −$0.89/SF
EGI
$62.0K $18.91/SF
− OpEx
−$18.6K −$5.67/SF
NOI
$43.4K $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%
$868,300
Cap Rate 7%
$620,214
Cap Rate 9%
$482,389
Alternative Uses
Best Use
Multifamily LT 5
$620.2K
$542.7K – $723.6K
NOI $43,415 @ 7.0% cap · market cap 8.68%
Second Best
Apartment 5plus
$574.8K
$502.9K – $670.6K
NOI $40,233 @ 7.0% cap · market cap 8.05%
Theoretical Best
Office A
$1.03M
$903.3K – $1.20M
NOI $72,265 @ 7.0% cap · market cap 14.45%
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
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 mirrored residences feature den space, upgraded finishes, central climate control, and separate well and septic systems.
Where is this duplex located?
The property is located at 4532/4534 22ND Street 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: Two‑unit duplex with 2 bedrooms plus a den and 2 bathrooms per side; Each side offers 1,196 SF of living area and 1,640 SF of total area; 0.28‑acre property at 4532/4534 22ND Street SW, Lehigh Acres
