Duplex with New Exterior
For Sale
$320,000
Pending
4824 Leonard Blvd S, Lehigh Acres, FL 33971
Two-unit property with refreshed exterior paint and garage parking.
Property Size2,364 SF
Days on Market40
Property Features for 4824 Leonard Blvd S
General Information
Standard status
Pending
Size
2,364 SF
Total Parking Spaces
1
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,267
Building Details
Buildings
1
Listing Agency:
Sefair Investments, Inc
(813) 842-5615
Listed By:
Daniel Sefair · License #261523656
(813) 842-5615
Source:
Exprealty
Added: Jul 24
Changed: Aug 21
Last Checked: Aug 30 at 10:09PM
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 Sefair Investments, Inc
Investment Insights
Based on property information with market context.
This duplex at 4824 Leonard Blvd S in Lehigh Acres offers 2,364 square feet with four bedrooms and four bathrooms across the property. A one-car garage provides dedicated parking, while the recently applied exterior paint gives the building an updated appearance.
The property is located in Lehigh Estates and is being offered as-is with the right to inspect. The listing identifies it as a potential addition to a rental portfolio, subject to buyer and buyer’s representative verification of measurements, utilities, zoning, permits, building materials, and other property details.
The property is located in Lehigh Estates and is being offered as-is with the right to inspect. The listing identifies it as a potential addition to a rental portfolio, subject to buyer and buyer’s representative verification of measurements, utilities, zoning, permits, building materials, and other property details.
Key Highlights
- Duplex with 2,364 square feet
- Four bedrooms and four bathrooms
- One‑car garage
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
$28,997
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
9.06%
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%
$579,940
$579.9K
Cap Rate 7%
$414,243
$414.2K
Cap Rate 9%
$322,189
$322.2K
Market Conditions
NOI Build-Up for 2,364 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
$55.0K $23.28/SF
− Vacancy
−$2.3K −$0.98/SF
EGI
$52.7K $22.30/SF
− OpEx
−$23.7K −$10.04/SF
NOI
$29.0K $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%
$579,940
Cap Rate 7%
$414,243
Cap Rate 9%
$322,189
Alternative Uses
Best Use
Multifamily LT 5
$447.0K
$391.1K – $521.5K
NOI $31,291 @ 7.0% cap · market cap 9.78%
Second Best
Apartment 5plus
$414.2K
$362.5K – $483.3K
NOI $28,997 @ 7.0% cap · market cap 9.06%
Theoretical Best
Office A
$744.1K
$651.1K – $868.1K
NOI $52,084 @ 7.0% cap · market cap 16.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
74
Businesses Nearby
Explore this area
Business Placement
Demographics for 33971, FL
26,333
Population
8,802
Households
3
Avg Household Size
33
Median Age
15%
College-Educated
85%
High-School Grad
17.0 sq mi
ZIP Area
1,549
Density / Sq Mi
$72,784
Median Household Income
$38,898
Median Earnings
$1,678
Median Rent
$271,900
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-unit property with refreshed exterior paint and garage parking.
Where is this duplex located?
The property is located at 4824 Leonard Blvd S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Duplex with 2,364 square feet; Four bedrooms and four bathrooms; One‑car garage
