Modern Two-Unit
For Sale
$498,000
4820-4822 29th St SW, Lehigh Acres, FL 33973
Two contemporary residences combine open layouts, upgraded finishes, private laundry rooms, and convenient regional access.
Property Size2,374 SF
Price / SF$209.77
Days on Market15
Property Features for 4820-4822 29th St SW
General Information
Standard status
Active
Size
2,374 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Real Broker, LLC
(239) 269-4171
Listed By:
Jennifer Marin · License #258039958
Source:
Findhousesinnaples
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 30 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 Real Broker, LLC
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex contains two 3-bedroom, 2-bath residences totaling 2,374 square feet. Each unit provides approximately 1,187 square feet with an open-concept arrangement and contemporary finishes, including wide-plank tile flooring, quartz countertops, stainless steel appliances, a spacious laundry room, tankless water heater, and exterior epoxy finishes.
The property is located at 4820-4822 29th St SW in Lehigh Acres, Florida. Access to SR-82 and I-75 connects the duplex with shopping, dining, and Southwest Florida International Airport. The two-unit configuration supports both investment ownership and an owner-occupant arrangement with a separate residence on site.
The property is located at 4820-4822 29th St SW in Lehigh Acres, Florida. Access to SR-82 and I-75 connects the duplex with shopping, dining, and Southwest Florida International Airport. The two-unit configuration supports both investment ownership and an owner-occupant arrangement with a separate residence on site.
Key Highlights
- Two 3‑bedroom, 2‑bath units
- 2,374 total square feet; approximately 1,187 square feet per unit
- Built in 2026
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
$31,423
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
6.31%
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%
$628,460
$628.5K
Cap Rate 7%
$448,900
$448.9K
Cap Rate 9%
$349,144
$349.1K
Market Conditions
NOI Build-Up for 2,374 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
$47.0K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$44.9K $18.91/SF
− OpEx
−$13.5K −$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%
$628,460
Cap Rate 7%
$448,900
Cap Rate 9%
$349,144
Alternative Uses
Best Use
Multifamily LT 5
$448.9K
$392.8K – $523.7K
NOI $31,423 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$416.0K
$364.0K – $485.3K
NOI $29,120 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$747.2K
$653.8K – $871.7K
NOI $52,304 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
83
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 contemporary residences combine open layouts, upgraded finishes, private laundry rooms, and convenient regional access.
Where is this duplex located?
The property is located at 4820-4822 29th St SW Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $498,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bath units; 2,374 total square feet; approximately 1,187 square feet per unit; Built in 2026
