Modern Duplex with Attached
For Sale
Contact for pricing
5016-5018 SW 24 ST, Lehigh Acres, FL 33973
2023 duplex with two leased units, contemporary interiors, and attached two-car garages.
Property Size3,374 SF
Price / SF$171.61
Days on Market91
Property Features for 5016-5018 SW 24 ST
General Information
Standard status
Active
Size
3,374 SF
Total Parking Spaces
8
Property subtype
Multifamily
Zoning
RES
Occupancy
100%
Net Operating Income
$41,749
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
2
Building Details
Year Built
2023
Buildings
1
Units
2
Listing Agency:
Miami New Realty
(786) 457-5609
Listed By:
Fernando Fernandez · License #3090818
Source:
Crexi
Added: Jun 3
Changed: Aug 30
Last Checked: Aug 30 at 3:02PM
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 Miami New Realty
Investment Insights
Based on property information with market context.
Completed in 2023, this duplex contains two residential units, each with 1,189 square feet of living area and 1,687 square feet of total area. The combined property area is 3,374 square feet. Both residences use an open layout and include three bedrooms, two bathrooms, tile flooring, granite countertops, stainless steel appliances, specialty lighting, and contemporary finishes. Each unit also has an attached two-car garage.
The property is located in Lehigh Acres at 5016-5018 SW 24 ST, Lehigh Acres, FL 33973, and is designated RES zoning. Both units are currently rented, providing combined monthly income. The property is not located in a flood zone.
The property is located in Lehigh Acres at 5016-5018 SW 24 ST, Lehigh Acres, FL 33973, and is designated RES zoning. Both units are currently rented, providing combined monthly income. The property is not located in a flood zone.
Key Highlights
- Duplex completed in 2023 with 3,374 square feet total area
- Each unit includes 1,189 square feet of living space and 1,687 square feet total area
- Two units, each configured with 3 bedrooms and 2 bathrooms
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
$44,659
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
7.71%
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%
$893,180
$893.2K
Cap Rate 7%
$637,986
$638.0K
Cap Rate 9%
$496,211
$496.2K
Market Conditions
NOI Build-Up for 3,374 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
$66.8K $19.80/SF
− Vacancy
−$3.0K −$0.89/SF
EGI
$63.8K $18.91/SF
− OpEx
−$19.1K −$5.67/SF
NOI
$44.7K $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%
$893,180
Cap Rate 7%
$637,986
Cap Rate 9%
$496,211
Alternative Uses
Best Use
Multifamily LT 5
$638.0K
$558.2K – $744.3K
NOI $44,659 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$591.2K
$517.3K – $689.8K
NOI $41,386 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$1.06M
$929.2K – $1.24M
NOI $74,336 @ 7.0% cap · market cap 12.84%
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
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Frequently Asked Questions
What type of property is this?
Duplex - 2023 duplex with two leased units, contemporary interiors, and attached two-car garages.
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: Duplex completed in 2023 with 3,374 square feet total area; Each unit includes 1,189 square feet of living space and 1,687 square feet total area; Two units, each configured with 3 bedrooms and 2 bathrooms
