Updated Concrete-Block
For Sale
$475,000
7374 7376 Albany Rd, Fort Myers, FL 33967
Spacious income property with separate entrances, patios, tile flooring, and parking for multiple vehicles.
Property Size2,672 SF
Price / SF$177.77
Days on Market38
Property Features for 7374 7376 Albany Rd
General Information
Standard status
Active
Size
2,672 SF
Total Parking Spaces
12
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Year Built
1984
Buildings
1
Construction
concrete block
Listing Agency:
Ark Realty & Investment
Listed By:
William Richards · License #258035008
(239) 940-5500
Source:
Swfloridarealestate
Added: Jul 29
Changed: Aug 28
Last Checked: Sep 1 at 9:24PM
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 Ark Realty & Investment
Investment Insights
Based on property information with market context.
This 2,672-square-foot concrete-block duplex contains 6 bedrooms and 4 full bathrooms on an oversized lot. The property includes tile flooring throughout, full kitchen and living areas, laundry hookups, private exterior entrances for the upper-level spaces, and patios. A permitted 2026 roof and 2026 hot water heaters are among the recent updates, while aluminum accordion hurricane shutters provide storm protection.
The property is located at 7374 7376 Albany Rd in Fort Myers, FL 33967. On-site parking accommodates up to 12 vehicles without using the grass. Two wells serve the property, and it has no history of hurricane flooding. Built in 1984, the duplex also offers room for future expansion according to the property information.
The property is located at 7374 7376 Albany Rd in Fort Myers, FL 33967. On-site parking accommodates up to 12 vehicles without using the grass. Two wells serve the property, and it has no history of hurricane flooding. Built in 1984, the duplex also offers room for future expansion according to the property information.
Key Highlights
- 6 bedrooms and 4 full‑size baths
- 2,672 SF concrete‑block duplex on an oversized lot
- 2026 permitted roof and 2026 hot water heaters
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
$35,367
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
7.45%
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%
$707,340
$707.3K
Cap Rate 7%
$505,243
$505.2K
Cap Rate 9%
$392,967
$393.0K
Market Conditions
NOI Build-Up for 2,672 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
$52.9K $19.80/SF
− Vacancy
−$2.4K −$0.89/SF
EGI
$50.5K $18.91/SF
− OpEx
−$15.2K −$5.67/SF
NOI
$35.4K $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%
$707,340
Cap Rate 7%
$505,243
Cap Rate 9%
$392,967
Alternative Uses
Best Use
Multifamily LT 5
$505.2K
$442.1K – $589.5K
NOI $35,367 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$468.2K
$409.7K – $546.3K
NOI $32,775 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$841.0K
$735.9K – $981.2K
NOI $58,870 @ 7.0% cap · market cap 12.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
535
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 - Spacious income property with separate entrances, patios, tile flooring, and parking for multiple vehicles.
Where is this duplex located?
The property is located at 7374 7376 Albany Rd Fort Myers, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 6 bedrooms and 4 full‑size baths; 2,672 SF concrete‑block duplex on an oversized lot; 2026 permitted roof and 2026 hot water heaters
