Upgraded Duplex with Corner
New
For Sale
$509,900
4901/4903 S Leonard Blvd, Lehigh Acres, FL 33973
New two-unit property with refined interior finishes, city water, and convenient access toward Fort Myers.
Property Size2,392 SF
Price / SF$213.17
Days on Market2
Property Features for 4901/4903 S Leonard Blvd
General Information
Standard status
Active
Size
2,392 SF
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Epique Realty Inc.
(888) 893-3537
Listed By:
Medway Realty
(941) 375-2456
Source:
Movetosarasotafl
Added: Sep 9
Last Checked: Sep 10 at 5:27AM
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 Epique Realty Inc.
Investment Insights
Based on property information with market context.
This new duplex at 4901/4903 S Leonard Blvd features two separately configured residences, each with three bedrooms, two bathrooms, and 1,196 sf of living area. Interior finishes include porcelain tile flooring, stainless steel appliances, quartz countertops, wood cabinetry, dual sinks in the primary bathroom, a walk-in primary closet, and tray ceilings in key living and bedroom areas. Each side has a floor plan designed around a spacious living area, dining space, kitchen, and bedroom accommodations.
The property occupies a corner lot and is served by city water. Its Lehigh Acres address provides access toward Fort Myers, and the property is identified as not being in a flood zone. The total stated property size is 2392 sf, with the duplex constructed in 2026.
The property occupies a corner lot and is served by city water. Its Lehigh Acres address provides access toward Fort Myers, and the property is identified as not being in a flood zone. The total stated property size is 2392 sf, with the duplex constructed in 2026.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 bathrooms on each side
- 1,196 sf of living area per side; total property size of 2392 sf
- Porcelain tile flooring, quartz countertops, wood cabinets, and stainless steel appliances
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
$31,661
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
6.21%
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%
$633,220
$633.2K
Cap Rate 7%
$452,300
$452.3K
Cap Rate 9%
$351,789
$351.8K
Market Conditions
NOI Build-Up for 2,392 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
$47.4K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$45.2K $18.91/SF
− OpEx
−$13.6K −$5.67/SF
NOI
$31.7K $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%
$633,220
Cap Rate 7%
$452,300
Cap Rate 9%
$351,789
Alternative Uses
Best Use
Multifamily LT 5
$452.3K
$395.8K – $527.7K
NOI $31,661 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$419.2K
$366.8K – $489.0K
NOI $29,341 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$752.9K
$658.8K – $878.4K
NOI $52,701 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
79
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - New two-unit property with refined interior finishes, city water, and convenient access toward Fort Myers.
Where is this duplex located?
The property is located at 4901/4903 S Leonard Blvd Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $509,900.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 bathrooms on each side; 1,196 sf of living area per side; total property size of 2392 sf; Porcelain tile flooring, quartz countertops, wood cabinets, and stainless steel appliances
