Duplex Property with Screened
For Sale
$669,000
7257 & 7261 Albany RD, Fort Myers, FL 33967
Legal duplex with separate entrances, recent system upgrades, and a shared screened swimming pool in a non-HOA community.
Property Size4,466 SF
Price / SF$149.80
Days on Market211
Property Features for 7257 & 7261 Albany RD
General Information
Standard status
Active
Size
4,466 SF
Property subtype
Duplex
Additional Details
Road Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,477
Amenities
pool
solar panel system
Building Details
Building Size
4,466 SF
Year Built
1983
Buildings
1
Listing Agency:
Paradise Real Estate & Rentals, LLC
Listed By:
Dr. Shari Turner McKee · License #258028267
(309) 230-4148
Source:
Kwelevate
Added: Feb 4
Changed: Aug 31
Last Checked: Sep 2 at 9:19PM
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 Paradise Real Estate & Rentals, LLC
Investment Insights
Based on property information with market context.
Built in 1983, this legally designated duplex contains approximately 4,466 square feet of living space. The layout includes multiple living areas and separate entrances, supporting distinct occupancy arrangements within the two-unit configuration. Recent improvements include a 2023 roof, a solar panel system, and updated A/C systems installed approximately in 2024. A shared screened-in pool adds an outdoor amenity to the property.
The duplex is located on Albany Road in the San Carlos Park area of Fort Myers. Its rear boundary borders a canal incorporated into post-storm drainage improvements. The property is in a non-HOA community and offers access to shopping, dining, schools, FGCU, and major roadways. The structure has remained intact through prior storm events.
The duplex is located on Albany Road in the San Carlos Park area of Fort Myers. Its rear boundary borders a canal incorporated into post-storm drainage improvements. The property is in a non-HOA community and offers access to shopping, dining, schools, FGCU, and major roadways. The structure has remained intact through prior storm events.
Key Highlights
- Approximately 4,466 SF of living space in a legally designated duplex
- Separate entrances and multiple living areas within the existing layout
- New roof completed in 2023
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
$59,113
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
8.84%
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%
$1,182,260
$1.2M
Cap Rate 7%
$844,471
$844.5K
Cap Rate 9%
$656,811
$656.8K
Market Conditions
NOI Build-Up for 4,466 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
$88.4K $19.80/SF
− Vacancy
−$4.0K −$0.89/SF
EGI
$84.4K $18.91/SF
− OpEx
−$25.3K −$5.67/SF
NOI
$59.1K $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%
$1,182,260
Cap Rate 7%
$844,471
Cap Rate 9%
$656,811
Alternative Uses
Best Use
Multifamily LT 5
$844.5K
$738.9K – $985.2K
NOI $59,113 @ 7.0% cap · market cap 8.84%
Second Best
Apartment 5plus
$782.6K
$684.8K – $913.0K
NOI $54,781 @ 7.0% cap · market cap 8.19%
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,395 @ 7.0% cap · market cap 14.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
668
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 - Legal duplex with separate entrances, recent system upgrades, and a shared screened swimming pool in a non-HOA community.
Where is this duplex located?
The property is located at 7257 & 7261 Albany RD Fort Myers, FL.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: Approximately 4,466 SF of living space in a legally designated duplex; Separate entrances and multiple living areas within the existing layout; New roof completed in 2023
