Newly Built
For Sale
$535,000
585/587 Alabama Rd S, Lehigh Acres, FL 33974
Two three-bedroom units feature screened lanais, impact windows and doors, stainless steel appliances, and fenced outdoor space.
Property Size2,540 SF
Price / SF$210.63
Days on Market169
Property Features for 585/587 Alabama Rd S
General Information
Standard status
Active
Size
2,540 SF
Property subtype
Multi-Family
Building Details
Year Built
2025
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Barak Lynn · License #278049605
Source:
Naplespropertyguide
Added: Mar 17
Changed: Aug 30
Last Checked: Aug 31 at 5:46PM
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 LoKation
Investment Insights
Based on property information with market context.
Completed in 2025, this 2,540-square-foot duplex at 585/587 Alabama Rd S is configured as two full three-bedroom, two-bathroom units, creating a true six-bedroom property. Both residences include screened lanais, oversized 8-ft doors, impact windows and doors, tile flooring, stainless steel appliances, and smooth modern stucco finishes. High-efficiency septic service and a fenced back yard are also included.
The property occupies a corner lot in Lehigh Acres, Florida. One unit is currently rented, providing an existing income component for an owner or investor. The layout and recent construction offer a straightforward residential income configuration without the need for major renovation.
The property occupies a corner lot in Lehigh Acres, Florida. One unit is currently rented, providing an existing income component for an owner or investor. The layout and recent construction offer a straightforward residential income configuration without the need for major renovation.
Key Highlights
- 2025 construction with 2,540 SF of total building area
- True 6‑bedroom duplex with two 3‑bedroom, 2‑bathroom units
- Corner‑lot location at 585/587 Alabama Rd S, Lehigh Acres, FL 33974
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
$27,026
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
5.05%
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%
$540,520
$540.5K
Cap Rate 7%
$386,086
$386.1K
Cap Rate 9%
$300,289
$300.3K
Market Conditions
NOI Build-Up for 2,540 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
$41.1K $16.20/SF
− Vacancy
−$2.5K −$1.00/SF
EGI
$38.6K $15.20/SF
− OpEx
−$11.6K −$4.56/SF
NOI
$27.0K $10.64/SF
Area
ZIP 33974
Vacancy
6.17%
Lease Rate
$16.20 /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%
$540,520
Cap Rate 7%
$386,086
Cap Rate 9%
$300,289
Alternative Uses
Best Use
Multifamily LT 5
$386.1K
$337.8K – $450.4K
NOI $27,026 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$335.9K
$293.9K – $391.9K
NOI $23,512 @ 7.0% cap · market cap 4.39%
Theoretical Best
Specialty Retail
$977.8K
$855.6K – $1.14M
NOI $68,448 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
59
Businesses Nearby
Explore this area
Business Placement
Demographics for 33974, FL
17,233
Population
5,771
Households
3
Avg Household Size
33
Median Age
16%
College-Educated
84%
High-School Grad
22.4 sq mi
ZIP Area
769
Density / Sq Mi
$65,809
Median Household Income
$33,982
Median Earnings
$1,698
Median Rent
$272,800
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 units feature screened lanais, impact windows and doors, stainless steel appliances, and fenced outdoor space.
Where is this duplex located?
The property is located at 585/587 Alabama Rd S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: 2025 construction with 2,540 SF of total building area; True 6‑bedroom duplex with two 3‑bedroom, 2‑bathroom units; Corner‑lot location at 585/587 Alabama Rd S, Lehigh Acres, FL 33974
