Modern Three-Bedroom
For Sale
$589,000
Pending
7066 Babcock Rd, Fort Myers, FL 33967
Built in 2023 with tile flooring, granite countertops, and open-concept living areas throughout both residences.
Property Size2,710 SF
Days on Market293
Property Features for 7066 Babcock Rd
General Information
Standard status
Pending
Size
2,710 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
1
Building Details
Year Built
2023
Buildings
1
Listing Agency:
Signature Real Estate Group
Listed By:
Steve Boge · License #BK3266284
(239) 994-2229
Source:
Napleshomesearches
Added: Nov 15, 2025
Changed: Sep 2
Last Checked: Sep 2 at 6:40PM
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 Signature Real Estate Group
Investment Insights
Based on property information with market context.
Completed in 2023, this duplex contains 2,710 square feet with two separately configured residences. Each side offers three bedrooms, two full bathrooms, and a single-car garage. Interior details include tile flooring throughout, granite countertops, contemporary finishes, and an open arrangement linking the kitchen, dining, and living spaces.
The property is located at 7066 Babcock Rd in Fort Myers, within San Carlos Park. FGCU, Gulf Coast Town Center, shopping, dining, and Gulf beaches are described as minutes away. The combination of matching residential layouts, durable interior finishes, and attached garage space provides a consistent configuration across both sides.
The property is located at 7066 Babcock Rd in Fort Myers, within San Carlos Park. FGCU, Gulf Coast Town Center, shopping, dining, and Gulf beaches are described as minutes away. The combination of matching residential layouts, durable interior finishes, and attached garage space provides a consistent configuration across both sides.
Key Highlights
- Two‑residence duplex with 2,710 square feet
- Each side includes 3 bedrooms and 2 full bathrooms
- Single‑car garage provided for each residence
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
$35,870
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
6.09%
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%
$717,400
$717.4K
Cap Rate 7%
$512,429
$512.4K
Cap Rate 9%
$398,556
$398.6K
Market Conditions
NOI Build-Up for 2,710 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
$53.7K $19.80/SF
− Vacancy
−$2.4K −$0.89/SF
EGI
$51.2K $18.91/SF
− OpEx
−$15.4K −$5.67/SF
NOI
$35.9K $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%
$717,400
Cap Rate 7%
$512,429
Cap Rate 9%
$398,556
Alternative Uses
Best Use
Multifamily LT 5
$512.4K
$448.4K – $597.8K
NOI $35,870 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$474.9K
$415.5K – $554.0K
NOI $33,241 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$853.0K
$746.3K – $995.1K
NOI $59,707 @ 7.0% cap · market cap 10.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
488
Businesses Nearby
Explore this area
Business Placement
Demographics for 33967, FL
28,174
Population
11,685
Households
2.4
Avg Household Size
35
Median Age
36%
College-Educated
92%
High-School Grad
7.6 sq mi
ZIP Area
3,707
Density / Sq Mi
$84,787
Median Household Income
$48,792
Median Earnings
$1,695
Median Rent
$321,800
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 - Built in 2023 with tile flooring, granite countertops, and open-concept living areas throughout both residences.
Where is this duplex located?
The property is located at 7066 Babcock Rd Fort Myers, FL.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Two‑residence duplex with 2,710 square feet; Each side includes 3 bedrooms and 2 full bathrooms; Single‑car garage provided for each residence
