Two-Unit Duplex
For Sale
$274,000
5515 5th Avenue, Fort Myers, FL 33907
The building includes ceiling fans, window and wall units, and a wall furnace.
Property Size1,400 SF
Days on Market385
Property Features for 5515 5th Avenue
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Residential Income
Zoning
TFC-2
Net Operating Income
$31,200
Taxes and HOA fees
Annual Taxes
$2,879
Amenities
Sport Court
Ceiling Fan(s), Window Unit(s), Wall Unit(s)
Wall Furnace
Duplex
Building Details
Building Size
1,400 SF
Year Built
1970
Listing Agency:
Sellstate Maximum Performance Realty
(561) 909-8780
Listed By:
Daniel Fernandez Perez · License #258031133
(561) 909-8780
Source:
Evrealestate
Added: Aug 1, 2025
Changed: Aug 12
Last Checked: Aug 20 at 5:09AM
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 Sellstate Maximum Performance Realty
Investment Insights
Based on property information with market context.
This duplex property was built in 1970 and includes ceiling fans, window unit(s), wall unit(s), and a wall furnace. The property is zoned TFC-2 and is located at 5515 5th Avenue in Fort Myers, Florida.
From US1 north, access is provided by turning onto Oak Dr W, then continuing to fifth Ave. The property is identified within Lee County or Parish.
From US1 north, access is provided by turning onto Oak Dr W, then continuing to fifth Ave. The property is identified within Lee County or Parish.
Key Highlights
- Duplex property built in 1970
- Zoned TFC‑2
- Ceiling fans, window unit(s), and wall unit(s)
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
$18,531
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
6.76%
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%
$370,620
$370.6K
Cap Rate 7%
$264,729
$264.7K
Cap Rate 9%
$205,900
$205.9K
Market Conditions
NOI Build-Up for 1,400 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
$27.7K $19.80/SF
− Vacancy
−$1.2K −$0.89/SF
EGI
$26.5K $18.91/SF
− OpEx
−$7.9K −$5.67/SF
NOI
$18.5K $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%
$370,620
Cap Rate 7%
$264,729
Cap Rate 9%
$205,900
Alternative Uses
Best Use
Multifamily LT 5
$264.7K
$231.6K – $308.9K
NOI $18,531 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$245.3K
$214.7K – $286.2K
NOI $17,173 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$440.6K
$385.6K – $514.1K
NOI $30,845 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,346
Businesses Nearby
Explore this area
Business Placement
Demographics for 33907, FL
24,980
Population
14,125
Households
1.8
Avg Household Size
43
Median Age
26%
College-Educated
89%
High-School Grad
7.3 sq mi
ZIP Area
3,422
Density / Sq Mi
$49,826
Median Household Income
$33,442
Median Earnings
$1,502
Median Rent
$236,700
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 - The building includes ceiling fans, window and wall units, and a wall furnace.
Where is this duplex located?
The property is located at 5515 5th Avenue Fort Myers, FL.
What is the asking price?
The asking price for this property is $274,000.
What are key features of this property?
This property features: Duplex property built in 1970; Zoned TFC‑2; Ceiling fans, window unit(s), and wall unit(s)
