Renovated Duplex With Attached
For Sale
$415,000
5236/5238 28th St SW, Lehigh Acres, FL 33973
Two three-bedroom layouts feature attached garages, concrete block construction, and updated appliances in both units.
Property Size2,458 SF
Price / SF$168.84
Days on Market28
Property Features for 5236/5238 28th St SW
General Information
Standard status
Active
Size
2,458 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
1
Building Details
Year Built
2007
Buildings
1
Construction
concrete block
Listing Agency:
RE/MAX Realty Team
(239) 313-8020
Listed By:
Jazmin Montas Sosa · License #274500881
Source:
Propertiesforsaleinswflorida
Added: Aug 2
Changed: Aug 27
Last Checked: Aug 29 at 10:32AM
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 RE/MAX Realty Team
Investment Insights
Based on property information with market context.
Built in 2007, this duplex contains 2,458 square feet across two matching three-bedroom, two-bath residences. Each unit includes an attached one-car garage, open living space, and a practical floor plan. One residence has updated kitchen cabinetry and appliances, while the other includes newer appliances and has been well maintained. Durable concrete block construction and an oversized lot add to the property's physical profile.
The property is located in Lehigh Acres near major roadways, shopping, restaurants, schools, and medical facilities. Fort Myers is a short drive away, providing access to additional services and employment centers. The address is 5236/5238 SW 28th St, Lehigh Acres, FL 33973.
The property is located in Lehigh Acres near major roadways, shopping, restaurants, schools, and medical facilities. Fort Myers is a short drive away, providing access to additional services and employment centers. The address is 5236/5238 SW 28th St, Lehigh Acres, FL 33973.
Key Highlights
- Duplex totaling 2,458 square feet
- Two 3‑bedroom, 2‑bath units
- Attached one‑car garage for 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
$32,535
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
7.84%
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%
$650,700
$650.7K
Cap Rate 7%
$464,786
$464.8K
Cap Rate 9%
$361,500
$361.5K
Market Conditions
NOI Build-Up for 2,458 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
$48.7K $19.80/SF
− Vacancy
−$2.2K −$0.89/SF
EGI
$46.5K $18.91/SF
− OpEx
−$13.9K −$5.67/SF
NOI
$32.5K $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%
$650,700
Cap Rate 7%
$464,786
Cap Rate 9%
$361,500
Alternative Uses
Best Use
Multifamily LT 5
$464.8K
$406.7K – $542.3K
NOI $32,535 @ 7.0% cap · market cap 7.84%
Second Best
Apartment 5plus
$430.7K
$376.9K – $502.5K
NOI $30,150 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$773.6K
$676.9K – $902.6K
NOI $54,155 @ 7.0% cap · market cap 13.05%
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
369
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 three-bedroom layouts feature attached garages, concrete block construction, and updated appliances in both units.
Where is this duplex located?
The property is located at 5236/5238 28th St SW Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Duplex totaling 2,458 square feet; Two 3‑bedroom, 2‑bath units; Attached one‑car garage for each unit
