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 Market158
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
Listed By:
Barak Lynn · License #278049605
(954) 545-5583
Source:
Naplespropertyguide
Added: May 12
Changed: Oct 4
Last Checked: Oct 16 at 9:15AM
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
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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 / Yr
$27,026
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
59
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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
