Duplex With
For Sale
$325,000
5529/5531 10Th Avenue, Fort Myers, FL 33907
MULTI_FAMILY - Other - Fort Myers, FL
Property Size2,218 SF
Lot Size0.13 Acres
Price / SF$146.53
Days on Market124
Property Features for 5529/5531 10Th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
TFC-2
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 3, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 4, Bedroom 2, Bathroom 1
Patio and Porch features
Patio
Pets allowed
Call
Exterior features
Patio
Subdivision
PINE MANOR
Directions
From Summerlin Rd, turn left onto Maple Dr, Turn right onto 10th Ave, property on the right.
Standard status
Active
APN
11-45-24-06-00028.0450
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PINE MANOR UNIT 6 BLK 28 PB 12 PG 82 LOT 45
Tax Annual Amount
4466
Legal Description
PINE MANOR UNIT 6 BLK 28 PB 12 PG 82 LOT 45
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1985
Floors in Building
2
Flooring type
Laminate, Tile
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Marzucco Real Estate
(239) 269-1584
Listed By:
Claudia Contreras · License #258032091
(239) 834-4652
Added: Apr 17
Changed: Aug 4
Last Checked: Aug 18 at 8:06AM
MLS# 2026016363
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. 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.
5529/5531 10th Avenue is a duplex built in 1985 in central Fort Myers. The property consists of two separate units, each offering 2 bedrooms and 2 bathrooms, with tile and laminate flooring. Exterior features include a patio.
The duplex is constructed with block, concrete, and stucco, and it is served by public water. Heating is central electric, with central air cooling and electric system support. The roof is shingle. Parking, unit-specific utility meters, and other operational details are not specified.
The duplex is described as being conveniently located near major shopping and dining, including Edison Mall and Bell Tower, with access to US-41 as well as nearby grocery stores and schools. There is no HOA mentioned for the property.
The duplex is constructed with block, concrete, and stucco, and it is served by public water. Heating is central electric, with central air cooling and electric system support. The roof is shingle. Parking, unit-specific utility meters, and other operational details are not specified.
The duplex is described as being conveniently located near major shopping and dining, including Edison Mall and Bell Tower, with access to US-41 as well as nearby grocery stores and schools. There is no HOA mentioned for the property.
Key Highlights
- Two 2BR/2BA units in a single duplex
- 0.127‑acre lot size
- 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
Multi-tenant
Tenancy
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex in central Fort Myers with two two-bedroom two-bath units, patio, and central electric HVAC.
Where is this duplex located?
The property is located at 5529/5531 10Th Avenue 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 in a single duplex; 0.127‑acre lot size; Built in 1985
