Duplex with Two-Car
For Sale
$579,000
5016-5018 SW 24 ST, Lehigh Acres, FL 33973
Residential Income, Lehigh Acres, FL
Property Size2,378 SF
Price / SF$243.48
Days on Market51
Property Features for 5016-5018 SW 24 ST
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RES
Bedrooms
6
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 6, Bathroom 4, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 2, Bedroom 3
Parking
8
Patio and Porch features
Patio
Exterior features
Patio
Subdivision
LEHIGH ESTATES
Lot features
1/4 to 1/2 Acre Lot
Standard status
Active
APN
10328868
Size
2,378 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
LEHIGH ESTATES UNIT 3 BLK 6 PB 15 PG 83 LOT 25
Tax Annual Amount
5623
Legal Description
LEHIGH ESTATES UNIT 3 BLK 6 PB 15 PG 83 LOT 25
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Electric (Heating)
Cooling system
Central Air
Building Details
Year built
2023
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Block
Roof type
Shingle
Listing Agency:
Miami New Realty
(305) 485-3100
Listed By:
Fernando Fernandez · License #3090818
(786) 457-5609
Added: Jul 18
Changed: Sep 2
Last Checked: Sep 6 at 8:06AM
MLS# A12030413
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.
Built in 2023, this block-construction duplex contains two residences, each with 1,189 sq. ft. of living space, three bedrooms, two bathrooms, and a 2-car garage. Open layouts are finished with ceramic tile flooring, granite countertops, stainless steel appliances, specialty lighting, and contemporary details. Each residence also includes patio space.
Both units are currently rented, providing combined monthly income. The property is located in Lehigh Acres, Florida, and is not in a flood zone. Additional physical features include shingle roofing, central air conditioning, electric heating, cable availability, and septic service.
Both units are currently rented, providing combined monthly income. The property is located in Lehigh Acres, Florida, and is not in a flood zone. Additional physical features include shingle roofing, central air conditioning, electric heating, cable availability, and septic service.
Key Highlights
- Built in 2023 with two 3‑bedroom, 2‑bathroom units
- Each unit offers 1,189 sq. ft. of living space
- 2‑car garage included with each unit
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
$31,476
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
5.44%
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%
$629,520
$629.5K
Cap Rate 7%
$449,657
$449.7K
Cap Rate 9%
$349,733
$349.7K
Market Conditions
NOI Build-Up for 2,378 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
$47.1K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$45.0K $18.91/SF
− OpEx
−$13.5K −$5.67/SF
NOI
$31.5K $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%
$629,520
Cap Rate 7%
$449,657
Cap Rate 9%
$349,733
Alternative Uses
Best Use
Multifamily LT 5
$449.7K
$393.5K – $524.6K
NOI $31,476 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$416.7K
$364.6K – $486.2K
NOI $29,169 @ 7.0% cap · market cap 5.04%
Theoretical Best
Office A
$748.5K
$654.9K – $873.2K
NOI $52,392 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
101
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - The property combines contemporary finishes with ceramic tile, central air, and electric heating.
Where is this duplex located?
The property is located at 5016-5018 SW 24 ST Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: Built in 2023 with two 3‑bedroom, 2‑bathroom units; Each unit offers 1,189 sq. ft. of living space; 2‑car garage included with each unit
