Two-Unit Duplex with
For Sale
$565,000
Pending
4913/4915 Leonard Blvd S, Lehigh Acres, FL 33973
Residential Income, Lehigh Acres, FL
Property Size2,400 SF
Days on Market57
Property Features for 4913/4915 Leonard Blvd S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning description
Residential Multifam
Bedrooms
6
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 4, Bedroom 6, Bathroom 4, Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 1
Parking
4
Subdivision
Lehigh Acres
Lot features
1/4 to 1/2 Acre Lot
Directions
Lehigh Acres is located in eastern Lee County, Florida, situated east of Fort Myers and west of the Hendry County line, bordered to the west by Fort Myers, its county seat, and accessible via Fl State Road 82. Located east of the I-75 corridor in SW FL.
Standard status
Pending
APN
10625286
Size
2,400 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
LEHIGH ESTATES UNIT 3 BLK 12 PB 15 PG 83 LOT 9
Tax Annual Amount
617
Legal Description
LEHIGH ESTATES UNIT 3 BLK 12 PB 15 PG 83 LOT 9
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
porch
security cameras system
gutters
ceramic tile
stainless steel appliances
impact rated windows and doors
cathedral ceilings
wood cabinetry
granite countertops
vanities and window sills
LED lighting
recessed lighting
Building Details
Year built
2025
Floors in Building
1
Building materials
Block
Roof type
Shingle
Listing Agency:
Premiere Plus Realty Company
(239) 732-7837
Listed By:
Giovana Valencia · License #3394745
(239) 285-9065
Added: Jul 6
Changed: Aug 26
Last Checked: Aug 31 at 7:06PM
MLS# A11890903
Copyright © 2026 Miami REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit duplex at 4913/4915 Leonard Blvd S in Lehigh Acres is under construction with an anticipated 2025 build year. The property contains 2,400 square feet, six bedrooms, four bathrooms, a 2-car garage, an attached porch, and exterior parking for up to 8 cars. Block construction, shingle roofing, impact-rated windows and doors, ceramic tile flooring, and central heating and cooling are specified.
Interior finishes include stainless steel appliances, wood cabinetry, granite countertops, LED and recessed lighting, cathedral ceilings, vanities, and finished window sills. The property also includes a concrete driveway, sprinkler system, security cameras, gutters, public water, a septic tank, and cable availability. It is located in Lehigh Acres, within Lee County and the 33973 postal area.
Interior finishes include stainless steel appliances, wood cabinetry, granite countertops, LED and recessed lighting, cathedral ceilings, vanities, and finished window sills. The property also includes a concrete driveway, sprinkler system, security cameras, gutters, public water, a septic tank, and cable availability. It is located in Lehigh Acres, within Lee County and the 33973 postal area.
Key Highlights
- 2,400‑square‑foot duplex with 2 units, 6 bedrooms, and 4 bathrooms
- 2‑car garage, attached porch, and exterior parking for up to 8 cars
- Under construction with a 2025 build year
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
$31,767
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
5.62%
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%
$635,340
$635.3K
Cap Rate 7%
$453,814
$453.8K
Cap Rate 9%
$352,967
$353.0K
Market Conditions
NOI Build-Up for 2,400 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
$47.5K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$45.4K $18.91/SF
− OpEx
−$13.6K −$5.67/SF
NOI
$31.8K $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%
$635,340
Cap Rate 7%
$453,814
Cap Rate 9%
$352,967
Alternative Uses
Best Use
Multifamily LT 5
$453.8K
$397.1K – $529.5K
NOI $31,767 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$420.6K
$368.0K – $490.7K
NOI $29,439 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$755.4K
$661.0K – $881.3K
NOI $52,877 @ 7.0% cap · market cap 9.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
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
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 - Under-construction duplex with upgraded finishes, public water, and central HVAC.
Where is this duplex located?
The property is located at 4913/4915 Leonard Blvd S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: 2,400‑square‑foot duplex with 2 units, 6 bedrooms, and 4 bathrooms; 2‑car garage, attached porch, and exterior parking for up to 8 cars; Under construction with a 2025 build year
