Duplex With Two 3-Bedroom
For Sale
$330,000
Pending
4732/4734 Leonard Blvd S, Lehigh Acres, FL 33973
Concrete-block duplex with two residential sides and planned improvements before closing.
Property Size2,352 SF
Days on Market15
Property Features for 4732/4734 Leonard Blvd S
General Information
Standard status
Pending
Size
2,352 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2001
Construction
concrete-block
Listing Agency:
Compass Florida LLC
Listed By:
Skirmantas Balciunas · License #258031523
(239) 244-5876
Source:
Swflsearch
Added: Sep 11
Changed: Sep 23
Last Checked: Sep 24 at 11:13AM
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 Compass Florida LLC
Investment Insights
Based on property information with market context.
This concrete-block duplex offers 2,352 square feet of living space across two separate units. Each side includes 3 bedrooms and 2 bathrooms, with approximately 1,176 square feet per unit. Unit 4734 has been renovated, while Unit 4732 is scheduled for comparable renovation before closing. A new roof is also planned before closing. Built in 2001, the property is configured for rental use or an owner-occupant arrangement with one unit on each side.
The property is located at 4732/4734 Leonard Blvd S in Lehigh Acres, near SR-82 and Daniels Parkway. These routes provide access to Fort Myers, shopping, dining, and Southwest Florida International Airport. The property is in Flood Zone X, and lenders typically do not require flood insurance in this zone.
The property is located at 4732/4734 Leonard Blvd S in Lehigh Acres, near SR-82 and Daniels Parkway. These routes provide access to Fort Myers, shopping, dining, and Southwest Florida International Airport. The property is in Flood Zone X, and lenders typically do not require flood insurance in this zone.
Key Highlights
- Two 3‑bedroom, 2‑bathroom units with approximately 1,176 sq. ft. per side
- Approximately 2,352 total sq. ft. of living space
- Concrete‑block duplex built in 2001
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
$28,850
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
8.74%
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%
$577,000
$577.0K
Cap Rate 7%
$412,143
$412.1K
Cap Rate 9%
$320,556
$320.6K
Market Conditions
NOI Build-Up for 2,352 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
$54.8K $23.28/SF
− Vacancy
−$2.3K −$0.98/SF
EGI
$52.5K $22.30/SF
− OpEx
−$23.6K −$10.04/SF
NOI
$28.9K $12.27/SF
Area
Lee County, FL
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$577,000
Cap Rate 7%
$412,143
Cap Rate 9%
$320,556
Alternative Uses
Best Use
Multifamily LT 5
$444.7K
$389.2K – $518.9K
NOI $31,132 @ 7.0% cap · market cap 9.43%
Second Best
Apartment 5plus
$412.1K
$360.6K – $480.8K
NOI $28,850 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$740.3K
$647.7K – $863.7K
NOI $51,819 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
78
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Concrete-block duplex with two residential sides and planned improvements before closing.
Where is this duplex located?
The property is located at 4732/4734 Leonard Blvd S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bathroom units with approximately 1,176 sq. ft. per side; Approximately 2,352 total sq. ft. of living space; Concrete‑block duplex built in 2001
