Remodeled Duplex with New
For Sale
$399,000
5109-5111 26th St SW, Lehigh Acres, FL 33973
Two-unit income property with updated kitchens, refreshed flooring, and recent air-conditioning improvements.
Property Size2,302 SF
Price / SF$173.33
Days on Market75
Property Features for 5109-5111 26th St SW
General Information
Standard status
Active
Size
2,302 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2005
Buildings
1
Listing Agency:
Community Realty Associates
Listed By:
Douglas Addeo · License #559732
(561) 852-1341
Source:
Swflhousesforsale
Added: Jun 21
Changed: Sep 2
Last Checked: Sep 2 at 6:37PM
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 Community Realty Associates
Investment Insights
Based on property information with market context.
This duplex at 5109-5111 26th St SW includes two residential units within a 2005-built property. Both sides have updated kitchens, while the left unit also has new flooring. The roof has been replaced, and each side features recent air-conditioning improvements, including a newly installed system on the right.
The property is located in Lehigh Acres, Florida, within ZIP code 33973. Its two-unit configuration and recent improvements provide a clear basis for evaluating it as a residential income property.
The property is located in Lehigh Acres, Florida, within ZIP code 33973. Its two-unit configuration and recent improvements provide a clear basis for evaluating it as a residential income property.
Key Highlights
- Duplex with two residential units
- 2005 construction
- New roofing
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
$30,470
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
7.64%
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%
$609,400
$609.4K
Cap Rate 7%
$435,286
$435.3K
Cap Rate 9%
$338,556
$338.6K
Market Conditions
NOI Build-Up for 2,302 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
$45.6K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$43.5K $18.91/SF
− OpEx
−$13.1K −$5.67/SF
NOI
$30.5K $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%
$609,400
Cap Rate 7%
$435,286
Cap Rate 9%
$338,556
Alternative Uses
Best Use
Multifamily LT 5
$435.3K
$380.9K – $507.8K
NOI $30,470 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$403.4K
$353.0K – $470.6K
NOI $28,237 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$724.5K
$634.0K – $845.3K
NOI $50,718 @ 7.0% cap · market cap 12.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
150
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 - Two-unit income property with updated kitchens, refreshed flooring, and recent air-conditioning improvements.
Where is this duplex located?
The property is located at 5109-5111 26th St SW Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Duplex with two residential units; 2005 construction; New roofing
