Duplex with Shared Screened
For Sale
$669,000
7261 Albany Road, Fort Myers, FL 33967
MULTI_FAMILY - Other - Fort Myers, FL
Property Size4,466 SF
Lot Size0.21 Acres
Price / SF$149.80
Days on Market194
Property Features for 7261 Albany Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RM-2
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bedroom 5, Bathroom 5, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 6, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 3
Patio and Porch features
Patio
Pets allowed
Yes
Pool private
1
Exterior features
Patio
Subdivision
SAN CARLOS PARK
Lot features
Rectangular Lot
Standard status
Active
APN
08-46-25-16-00017.0360
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SAN CARLOS PARK N ADDN BLK 17 PB 28 PG 16 LOTS 36 THRU 38
Tax Annual Amount
9477
Legal Description
SAN CARLOS PARK N ADDN BLK 17 PB 28 PG 16 LOTS 36 THRU 38
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air, Ceiling Fan(s)
Amenities
pool
solar panel system
Building Details
Year built
1983
Number of units
2
Flooring type
Laminate, Tile
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Paradise Real Estate & Rentals, LLC
(309) 230-4148
Listed By:
Dr. Shari Turner McKee · License #258028267
(309) 230-4148
Added: Feb 4
Changed: Aug 5
Last Checked: Aug 17 at 9:06PM
MLS# 2026006192
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.
This duplex offers income-producing flexibility with multiple living areas and separate entrances. Built in 1983 with block and concrete construction and stucco exterior, the home includes tile and laminate flooring, central electric HVAC, and a patio. A shared screened-in pool is an amenity on-site.
Recent capital improvements include a new roof in 2023, updated A/C systems around 2024, and a solar panel system intended to help reduce utility costs. The rear of the property borders a canal that was added as part of post-storm drainage improvements, and the structure has remained intact through prior storm events. The property is located in a non-HOA community, with convenient access to shopping, dining, schools, FGCU, and major roadways.
Per Lee County Property Appraiser (LEEPA), the property is legally designated as a duplex. Prospective buyers should verify zoning, permits, and allowable use during due diligence.
Recent capital improvements include a new roof in 2023, updated A/C systems around 2024, and a solar panel system intended to help reduce utility costs. The rear of the property borders a canal that was added as part of post-storm drainage improvements, and the structure has remained intact through prior storm events. The property is located in a non-HOA community, with convenient access to shopping, dining, schools, FGCU, and major roadways.
Per Lee County Property Appraiser (LEEPA), the property is legally designated as a duplex. Prospective buyers should verify zoning, permits, and allowable use during due diligence.
Key Highlights
- Shared screened‑in pool on‑site
- Roof replaced in 2023
- Solar panel system installed to help reduce utility costs
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 - Duplex features a shared screened-in pool, plus recent roof, solar, and HVAC upgrades on a non-HOA property.
Where is this duplex located?
The property is located at 7261 Albany Road 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: Shared screened‑in pool on‑site; Roof replaced in 2023; Solar panel system installed to help reduce utility costs
