Duplex With Two 2BR/2BA
For Sale
$325,000
5529/5531 10th Ave, Fort Myers, FL 33907
Two residential units offer a duplex configuration with no HOA.
Property Size2,218 SF
Price / SF$146.53
Days on Market209
Property Features for 5529/5531 10th Ave
General Information
Standard status
Active
Size
2,218 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1985
Listing Agency:
Marzucco Real Estate
Listed By:
Claudia Contreras · License #258032091
(239) 834-4652
Source:
Naplespropertyguide
Added: Feb 6
Changed: Sep 2
Last Checked: Sep 2 at 6:23PM
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 Marzucco Real Estate
Investment Insights
Based on property information with market context.
Constructed in 1985, this duplex includes two 2BR/2BA residences, with 1,109 square feet on each side and 2,218 square feet across the property. Both units share the same bedroom and bath configuration, creating a consistent residential layout. The property has no HOA.
Located at 5529/5531 10th Ave in Fort Myers, the duplex is near Edison Mall and Bell Tower, with access to US-41, grocery stores, schools, and other area amenities. Gulf beaches are also described as being nearby. Some images have been virtually staged.
Located at 5529/5531 10th Ave in Fort Myers, the duplex is near Edison Mall and Bell Tower, with access to US-41, grocery stores, schools, and other area amenities. Gulf beaches are also described as being nearby. Some images have been virtually staged.
Key Highlights
- Two 2BR/2BA units with 1,109 square feet on each side
- 2,218‑square‑foot duplex property
- Built in 1985
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
$29,358
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
9.03%
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%
$587,160
$587.2K
Cap Rate 7%
$419,400
$419.4K
Cap Rate 9%
$326,200
$326.2K
Market Conditions
NOI Build-Up for 2,218 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
$43.9K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$41.9K $18.91/SF
− OpEx
−$12.6K −$5.67/SF
NOI
$29.4K $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%
$587,160
Cap Rate 7%
$419,400
Cap Rate 9%
$326,200
Alternative Uses
Best Use
Multifamily LT 5
$419.4K
$367.0K – $489.3K
NOI $29,358 @ 7.0% cap · market cap 9.03%
Second Best
Apartment 5plus
$388.7K
$340.1K – $453.5K
NOI $27,207 @ 7.0% cap · market cap 8.37%
Theoretical Best
Office A
$698.1K
$610.8K – $814.5K
NOI $48,867 @ 7.0% cap · market cap 15.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,130
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer a duplex configuration with no HOA.
Where is this duplex located?
The property is located at 5529/5531 10th Ave Fort Myers, FL.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two 2BR/2BA units with 1,109 square feet on each side; 2,218‑square‑foot duplex property; Built in 1985
