New Construction
For Sale
$489,900
4965/4967 Leonard Blvd S, Lehigh Acres, FL 33973
Two-unit income property features modern finishes, private garages, and central water service.
Property Size2,396 SF
Price / SF$204.47
Days on Market21
Property Features for 4965/4967 Leonard Blvd S
General Information
Standard status
Active
Size
2,396 SF
Property subtype
Multi-Family
Building Details
Year Built
2026
Listing Agency:
Premiere Plus Realty Company
(239) 285-9065
Listed By:
Gio Valencia · License #249525717
Source:
Swfloridapropertiesforsale
Added: Aug 9
Changed: Aug 29
Last Checked: Aug 25 at 7:59AM
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 Premiere Plus Realty Company
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex contains 6 bedrooms and 4 bathrooms within 2,396 square feet. Each side offers three bedrooms, two bathrooms, a one-car garage, laundry space, custom closets, and ventilated pantry shelving. Interior details include 24-by-24 ceramic tile, recessed LED lighting, quartz Calacatta Plata countertops with waterfall edges, stainless steel appliances, wood cabinetry, and quartz bathroom vanities. Primary suites include rainfall shower heads with LED color options and handheld sprayers.
The property includes impact-rated doors and windows, sprinkler irrigation, rock landscaping, full gutters and soffits, and epoxy-style garage floors. Central water service is in place. A one-year systems and appliance warranty and a 10-year structural warranty convey with the sale. The oversized lot is located near shopping, major routes, and everyday conveniences in Lehigh Acres.
The property includes impact-rated doors and windows, sprinkler irrigation, rock landscaping, full gutters and soffits, and epoxy-style garage floors. Central water service is in place. A one-year systems and appliance warranty and a 10-year structural warranty convey with the sale. The oversized lot is located near shopping, major routes, and everyday conveniences in Lehigh Acres.
Key Highlights
- 2026 duplex with 6 bedrooms, 4 bathrooms, and 2,396 square feet
- Each unit includes a one‑car garage, laundry area, and custom storage
- 24x24 ceramic tile flooring throughout the interior
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
$31,714
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
6.47%
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%
$634,280
$634.3K
Cap Rate 7%
$453,057
$453.1K
Cap Rate 9%
$352,378
$352.4K
Market Conditions
NOI Build-Up for 2,396 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
$45.3K $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%
$634,280
Cap Rate 7%
$453,057
Cap Rate 9%
$352,378
Alternative Uses
Best Use
Multifamily LT 5
$453.1K
$396.4K – $528.6K
NOI $31,714 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$419.9K
$367.4K – $489.8K
NOI $29,390 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$754.1K
$659.9K – $879.8K
NOI $52,789 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
82
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-unit income property features modern finishes, private garages, and central water service.
Where is this duplex located?
The property is located at 4965/4967 Leonard Blvd S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: 2026 duplex with 6 bedrooms, 4 bathrooms, and 2,396 square feet; Each unit includes a one‑car garage, laundry area, and custom storage; 24x24 ceramic tile flooring throughout the interior
