Triplex with Gulf
For Sale
$499,000
4874 Pine Island RD NW, Matlacha, FL 33993
Three updated residences share laundry facilities and are all occupied.
Property Size1,202 SF
Price / SF$415.14
Days on Market612
Property Features for 4874 Pine Island RD NW
General Information
Standard status
Active
Size
1,202 SF
Property subtype
Triplex
Occupancy
100%
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,724
Amenities
shared laundry room
wooden deck
Building Details
Building Size
1,202 SF
Year Built
1942
Listing Agency:
Ideal Homes Realty LL
(239) 628-6771
Listed By:
Jose Serrat
(239) 489-1100
Source:
Mdmnaplesrealestate
Added: Feb 25, 2025
Changed: Oct 29
Last Checked: Oct 29 at 2:52PM
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 Ideal Homes Realty LL
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Investment Insights
Based on property information with market context.
Built in 1942, this triplex contains three renovated residences with new flooring, kitchen cabinetry, and appliances. The units share a laundry room. A metal roof, vinyl perimeter fence, and wooden deck are among the property’s exterior features.
The property is in Matlacha, with water access to the Gulf through Matlacha Pass. Matlacha Community Park is within walking distance, and Yucatan Waterfront Bar and Grill is across the street. A Publix supermarket is a short drive away.
The property is in Matlacha, with water access to the Gulf through Matlacha Pass. Matlacha Community Park is within walking distance, and Yucatan Waterfront Bar and Grill is across the street. A Publix supermarket is a short drive away.
Key Highlights
- Triplex with three occupied residences
- Renovated units feature new floors, kitchen cabinets, and appliances
- Shared laundry room serves the three units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,910
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$318,200
$318.2K
Cap Rate 7%
$227,286
$227.3K
Cap Rate 9%
$176,778
$176.8K
Market Conditions
NOI Build-Up for 1,202 SF
Gross rent
$23.8K $19.80/SF
− Vacancy
−$1.1K −$0.89/SF
EGI
$22.7K $18.91/SF
− OpEx
−$6.8K −$5.67/SF
NOI
$15.9K $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 Rate 5%
$318,200
Cap Rate 7%
$227,286
Cap Rate 9%
$176,778
Alternative Uses
Best Use
Multifamily LT 5
$227.3K
$198.9K – $265.2K
NOI $15,910 @ 7.0% cap · market cap 3.19%
Second Best
Apartment 5plus
$210.6K
$184.3K – $245.7K
NOI $14,744 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$378.3K
$331.0K – $441.4K
NOI $26,482 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
145
Businesses Nearby
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Business Placement
Demographics for 33993, FL
29,848
Population
13,098
Households
2.3
Avg Household Size
41
Median Age
22%
College-Educated
92%
High-School Grad
43.7 sq mi
ZIP Area
683
Density / Sq Mi
$89,220
Median Household Income
$41,871
Median Earnings
$2,057
Median Rent
$319,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three updated residences share laundry facilities and are all occupied.
Where is this triplex located?
The property is located at 4874 Pine Island RD NW Matlacha, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Triplex with three occupied residences; Renovated units feature new floors, kitchen cabinets, and appliances; Shared laundry room serves the three units
