Modern Duplex with Impact
For Sale
$540,000
509/511 Piedmont St, Lehigh Acres, FL 33974
Residential, Duplex, LEHIGH ACRES, FL
Property Size2,364 SF
Lot Size0.26 Acres
Price / SF$228.43
Days on Market107
Property Features for 509/511 Piedmont St
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Laundry Room, Bedroom 2, Bedroom 3, Bathroom 1, Bedroom 1, Bathroom 3, Bathroom 4
Parking
3
Parking features
Carport
Pets allowed
Yes
Interior features
Smoke Detectors
Appliances
Electric Cooktop, Dishwasher, Dryer, Microwave, Refrigerator/Freezer
Subdivision
LEHIGH ACRES
Lot features
Regular, Regular
Standard status
Active
APN
08-45-27-L3-24121.0180
Size
2,364 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
SOUTHWOOD UNIT 24 BLK 121 PB 26 PG 88 LOT 18
Tax Annual Amount
5592
Legal Description
SOUTHWOOD UNIT 24 BLK 121 PB 26 PG 88 LOT 18
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Well
Amenities
stainless steel appliances
Impact windows
Paved Patio for BBQ
Building Details
Year built
2024
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
eXp Realty LLC
(888) 883-8509
Listed By:
Luis Chirillo · License #NAPLES-249529323
(239) 888-4458
Added: May 24
Changed: Sep 5
Last Checked: Sep 7 at 2:06PM
MLS# 226020652
Copyright © 2026 Naples Area Board of 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 2024, this duplex contains 2,364 square feet with six bedrooms and four bathrooms. The property features concrete block and stucco construction, tile flooring, impact windows, central electric heating and cooling, and shingle roofing. Each residence benefits from modern kitchen finishes, including quartz countertops and stainless steel appliances, along with laundry space and smoke detectors.
The 0.2583-acre property includes a paved patio suitable for outdoor gatherings and a long paved driveway. Water service is provided by a well, with septic infrastructure on site. The property is located in Lehigh Acres near shopping areas and includes electric cooktops, dishwashers, dryers, microwaves, and refrigerator/freezers.
The 0.2583-acre property includes a paved patio suitable for outdoor gatherings and a long paved driveway. Water service is provided by a well, with septic infrastructure on site. The property is located in Lehigh Acres near shopping areas and includes electric cooktops, dishwashers, dryers, microwaves, and refrigerator/freezers.
Key Highlights
- 2024‑built duplex with 2,364 square feet
- Six bedrooms and four bathrooms
- Impact windows and concrete block construction
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
$25,154
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
4.66%
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%
$503,080
$503.1K
Cap Rate 7%
$359,343
$359.3K
Cap Rate 9%
$279,489
$279.5K
Market Conditions
NOI Build-Up for 2,364 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
$38.3K $16.20/SF
− Vacancy
−$2.4K −$1.00/SF
EGI
$35.9K $15.20/SF
− OpEx
−$10.8K −$4.56/SF
NOI
$25.2K $10.64/SF
Area
ZIP 33974
Vacancy
6.17%
Lease Rate
$16.20 /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%
$503,080
Cap Rate 7%
$359,343
Cap Rate 9%
$279,489
Alternative Uses
Best Use
Multifamily LT 5
$359.3K
$314.4K – $419.2K
NOI $25,154 @ 7.0% cap · market cap 4.66%
Second Best
Apartment 5plus
$312.6K
$273.5K – $364.7K
NOI $21,882 @ 7.0% cap · market cap 4.05%
Theoretical Best
Specialty Retail
$910.1K
$796.3K – $1.06M
NOI $63,705 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
39
Businesses Nearby
Explore this area
Business Placement
Demographics for 33974, FL
17,233
Population
5,771
Households
3
Avg Household Size
33
Median Age
16%
College-Educated
84%
High-School Grad
22.4 sq mi
ZIP Area
769
Density / Sq Mi
$65,809
Median Household Income
$33,982
Median Earnings
$1,698
Median Rent
$272,800
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 - Recently built duplex with updated kitchens, stainless steel appliances, quartz countertops, and outdoor patio space.
Where is this duplex located?
The property is located at 509/511 Piedmont St Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: 2024‑built duplex with 2,364 square feet; Six bedrooms and four bathrooms; Impact windows and concrete block construction
