Newly Built Duplex with Modern
For Sale
$489,990
Pending
5119 24th St SW, Lehigh Acres, FL 33973
Residential Income, Duplex, LEHIGH ACRES, FL
Property Size3,140 SF
Lot Size0.30 Acres
Days on Market138
Property Features for 5119 24th St SW
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
RM-2
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 6, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 4, Bathroom 3
Pets allowed
Yes
Subdivision
LEHIGH ACRES
Lot features
Oversize, Oversize
Standard status
Pending
APN
31-44-26-L2-02006.0040
Size
3,140 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LEHIGH ESTATES UNIT 2 BLK 6 PB 15 PG 82 LOT 4
Tax Annual Amount
807
Legal Description
LEHIGH ESTATES UNIT 2 BLK 6 PB 15 PG 82 LOT 4
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Well
Amenities
security camera system
laundry area
premium landscaping
Building Details
Year built
2026
Number of units
2
Flooring type
Tile
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Premiere Plus Realty Company
(239) 732-7837
Listed By:
Gio Valencia · License #249525717
(239) 285-9065
Added: Apr 14
Changed: Aug 19
Last Checked: Aug 29 at 7:06PM
MLS# 226015639
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.
This duplex is under construction and is planned for completion in 2026. The 3,140-square-foot property includes six bedrooms and four bathrooms, with tile flooring, stainless steel kitchen appliances, gray cabinetry, recessed LED lighting, and quartz surfaces in the kitchens and bathrooms. Custom closets and ventilated pantry shelving add storage, while each unit includes a garage laundry area. Impact-resistant doors and windows, a camera-based security system, and a sprinkler system are included. The property also features gutters, soffits, landscaping, a shingle roof, concrete block and stucco construction, central electric heating, and central air conditioning.
Set on a 0.2994-acre lot in Lehigh Acres, the property is zoned RM-2 and uses a well and septic tank. Shopping, major roads, and local amenities are identified as accessible from the property. Appliance and system coverage is provided through a one-year warranty, along with a ten-year structural warranty.
Set on a 0.2994-acre lot in Lehigh Acres, the property is zoned RM-2 and uses a well and septic tank. Shopping, major roads, and local amenities are identified as accessible from the property. Appliance and system coverage is provided through a one-year warranty, along with a ten-year structural warranty.
Key Highlights
- 3,140‑square‑foot duplex with 6 bedrooms and 4 bathrooms
- Under construction with a 2026 year built
- 0.2994‑acre lot with RM‑2 zoning
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
$41,562
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
8.48%
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%
$831,240
$831.2K
Cap Rate 7%
$593,743
$593.7K
Cap Rate 9%
$461,800
$461.8K
Market Conditions
NOI Build-Up for 3,140 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
$62.2K $19.80/SF
− Vacancy
−$2.8K −$0.89/SF
EGI
$59.4K $18.91/SF
− OpEx
−$17.8K −$5.67/SF
NOI
$41.6K $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%
$831,240
Cap Rate 7%
$593,743
Cap Rate 9%
$461,800
Alternative Uses
Best Use
Multifamily LT 5
$593.7K
$519.5K – $692.7K
NOI $41,562 @ 7.0% cap · market cap 8.48%
Second Best
Apartment 5plus
$550.2K
$481.5K – $641.9K
NOI $38,516 @ 7.0% cap · market cap 7.86%
Theoretical Best
Office A
$988.3K
$864.8K – $1.15M
NOI $69,180 @ 7.0% cap · market cap 14.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
212
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 residential property with updated interiors, security features, and practical storage throughout.
Where is this duplex located?
The property is located at 5119 24th St SW Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $489,990.
What are key features of this property?
This property features: 3,140‑square‑foot duplex with 6 bedrooms and 4 bathrooms; Under construction with a 2026 year built; 0.2994‑acre lot with RM‑2 zoning
