Two-Unit Concrete Block
For Sale
$350,000
5484/5486 Birdsong Ln, Bokeelia, FL 33922
Well-maintained income property with private screened lanais, exterior storage, and recent roof and gutter updates.
Property Size2,202 SF
Lot Size0.50 Acres
Price / SF$158.95
Days on Market38
Property Features for 5484/5486 Birdsong Ln
General Information
Standard status
Active
Size
2,202 SF
Lot size
0.50 Acres
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
room for cosmetic updates
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Amenities
screened lanai
exterior storage closet
Building Details
Year Built
2002
Buildings
1
Construction
concrete block
Listing Agency:
Compass Florida LLC
(239) 244-5876
Listed By:
Skirmantas Balciunas · License #258031523
Source:
Napleshomesearcher
Added: Jul 23
Changed: Aug 28
Last Checked: Aug 25 at 7:19AM
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 Compass Florida LLC
Investment Insights
Based on property information with market context.
This concrete block duplex contains two 1,101-square-foot residences, each with two bedrooms, one and a half bathrooms, vaulted living room ceilings, and tile flooring. Both units include a private screened lanai and a dedicated exterior storage closet. The property offers 2,202 square feet of total building area on a nearly 0.5-acre lot.
A new roof and gutters were installed in 2023. The property is located at 5484/5486 Birdsong Ln in Bokeelia, with Publix, Pine Island Road, restaurants, shopping, and everyday services described as minutes away. The 2002 construction provides a concrete block foundation for the two-unit layout, while the existing finishes and outdoor spaces support continued residential use.
A new roof and gutters were installed in 2023. The property is located at 5484/5486 Birdsong Ln in Bokeelia, with Publix, Pine Island Road, restaurants, shopping, and everyday services described as minutes away. The 2002 construction provides a concrete block foundation for the two-unit layout, while the existing finishes and outdoor spaces support continued residential use.
Key Highlights
- Two‑unit duplex with 2,202 SF of total building area
- Each residence measures 1,101 SF with 2 bedrooms and 1.5 bathrooms
- Nearly 0.5‑acre lot at 5484/5486 Birdsong Ln, Bokeelia, FL 33922
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
$29,146
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
8.33%
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%
$582,920
$582.9K
Cap Rate 7%
$416,371
$416.4K
Cap Rate 9%
$323,844
$323.8K
Market Conditions
NOI Build-Up for 2,202 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
$43.6K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$41.6K $18.91/SF
− OpEx
−$12.5K −$5.67/SF
NOI
$29.1K $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%
$582,920
Cap Rate 7%
$416,371
Cap Rate 9%
$323,844
Alternative Uses
Best Use
Multifamily LT 5
$416.4K
$364.3K – $485.8K
NOI $29,146 @ 7.0% cap · market cap 8.33%
Second Best
Apartment 5plus
$385.9K
$337.6K – $450.2K
NOI $27,010 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$693.1K
$606.4K – $808.6K
NOI $48,514 @ 7.0% cap · market cap 13.86%
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
207
Businesses Nearby
Explore this area
Business Placement
Demographics for 33922, FL
4,326
Population
2,925
Households
1.5
Avg Household Size
59
Median Age
34%
College-Educated
87%
High-School Grad
20.9 sq mi
ZIP Area
207
Density / Sq Mi
$68,579
Median Household Income
$34,503
Median Earnings
$1,110
Median Rent
$330,100
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 - Well-maintained income property with private screened lanais, exterior storage, and recent roof and gutter updates.
Where is this duplex located?
The property is located at 5484/5486 Birdsong Ln Bokeelia, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,202 SF of total building area; Each residence measures 1,101 SF with 2 bedrooms and 1.5 bathrooms; Nearly 0.5‑acre lot at 5484/5486 Birdsong Ln, Bokeelia, FL 33922
