Two-Story Duplex with Updated
For Sale
$399,000
7393-7385 Albany Rd, Fort Myers, FL 33967
Each residence spans two levels and includes private outdoor space separated by fencing.
Property Size2,160 SF
Price / SF$184.72
Days on Market26
Property Features for 7393-7385 Albany Rd
General Information
Standard status
Active
Size
2,160 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Building Details
Year Built
1984
Listing Agency:
LPT Realty, LLC
(410) 320-4868
Listed By:
Rebecca Giacobba · License #3240236
Source:
Swfloridarealestate
Added: Aug 8
Changed: Aug 30
Last Checked: Sep 1 at 9:27PM
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 LPT Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1984, this duplex contains 2,160 square feet across two separate two-story residences. Each side includes a bedroom and bathroom on the main level, plus an additional bedroom and bathroom upstairs. The layouts provide a house-like configuration within a duplex format, with individually separated yards and patios that have been updated.
One residence is occupied by the owner, while the other is leased to a long-term tenant on a month-to-month arrangement. The property is located at 7393-7385 Albany Rd in Fort Myers, Florida. A newer roof and septic-system work, including installation of a new tank, are additional physical improvements. The property has no HOA.
One residence is occupied by the owner, while the other is leased to a long-term tenant on a month-to-month arrangement. The property is located at 7393-7385 Albany Rd in Fort Myers, Florida. A newer roof and septic-system work, including installation of a new tank, are additional physical improvements. The property has no HOA.
Key Highlights
- 2,160‑square‑foot duplex built in 1984
- Two‑story layout on each side with 2 bedrooms and 2 bathrooms per residence
- Owner‑occupied unit plus tenant‑occupied unit
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
$28,590
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
7.17%
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%
$571,800
$571.8K
Cap Rate 7%
$408,429
$408.4K
Cap Rate 9%
$317,667
$317.7K
Market Conditions
NOI Build-Up for 2,160 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
$42.8K $19.80/SF
− Vacancy
−$1.9K −$0.89/SF
EGI
$40.8K $18.91/SF
− OpEx
−$12.3K −$5.67/SF
NOI
$28.6K $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%
$571,800
Cap Rate 7%
$408,429
Cap Rate 9%
$317,667
Alternative Uses
Best Use
Multifamily LT 5
$408.4K
$357.4K – $476.5K
NOI $28,590 @ 7.0% cap · market cap 7.17%
Second Best
Apartment 5plus
$378.5K
$331.2K – $441.6K
NOI $26,495 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$679.8K
$594.9K – $793.2K
NOI $47,589 @ 7.0% cap · market cap 11.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
571
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each residence spans two levels and includes private outdoor space separated by fencing.
Where is this duplex located?
The property is located at 7393-7385 Albany Rd Fort Myers, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,160‑square‑foot duplex built in 1984; Two‑story layout on each side with 2 bedrooms and 2 bathrooms per residence; Owner‑occupied unit plus tenant‑occupied unit
