New Duplex with Attached
For Sale
$520,000
845-847 Meadow Rd, Lehigh Acres, FL 33973
Residential Income, Duplex, LEHIGH ACRES, FL
Property Size2,332 SF
Lot Size0.29 Acres
Price / SF$222.98
Days on Market152
Property Features for 845-847 Meadow Rd
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
RM-2
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 6, Bedroom 4, Bedroom 3, Bedroom 5
Patio and Porch features
Patio
Pets allowed
Yes
Subdivision
LEHIGH ACRES
Lot features
Regular, Regular
Standard status
Active
APN
04-45-26-04-00022.0210
Size
2,332 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LEHIGH ESTATES UNIT 4 BLK 22 PB 15 PG 84 LOT 21
Tax Annual Amount
1475
Legal Description
LEHIGH ESTATES UNIT 4 BLK 22 PB 15 PG 84 LOT 21
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Well
Building Details
Year built
2025
Number of units
2
Flooring type
Tile
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Keller Williams Realty Naples
(239) 449-1000
Listed By:
Sonja Packwood
(248) 795-8544
Added: May 3
Changed: Sep 14
Last Checked: Oct 1 at 11:06PM
MLS# 226014217
Copyright © 2026 Naples Area Board of REALTORS. 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 at 845-847 Meadow Rd is under construction and scheduled as a 2025-built property. The 2,332-square-foot building contains two residences, each with three bedrooms, two bathrooms, an attached one-car garage, an open living arrangement, tile flooring, quartz surfaces, upgraded appliances, 10-foot ceilings, and 8-foot doors. Each garage includes an epoxy floor, while patios extend the usable living area. Concrete block and stucco construction, a shingle roof, central electric heating, and central air conditioning complete the improvements.
The property occupies 0.285 acres in Lehigh Acres, Florida, within RM-2 zoning. Water service is provided by a well and wastewater is handled by a septic tank. Its location at 845-847 Meadow Rd places the duplex in Lee County with access to the surrounding Lehigh Acres area and nearby Fort Myers.
The property occupies 0.285 acres in Lehigh Acres, Florida, within RM-2 zoning. Water service is provided by a well and wastewater is handled by a septic tank. Its location at 845-847 Meadow Rd places the duplex in Lee County with access to the surrounding Lehigh Acres area and nearby Fort Myers.
Key Highlights
- Two‑unit duplex with 2,332 square feet of building area
- Each residence includes 3 bedrooms, 2 bathrooms, and an attached 1‑car garage
- Built in 2025 and currently under construction
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
$30,867
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
5.94%
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%
$617,340
$617.3K
Cap Rate 7%
$440,957
$441.0K
Cap Rate 9%
$342,967
$343.0K
Market Conditions
NOI Build-Up for 2,332 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
$46.2K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$44.1K $18.91/SF
− OpEx
−$13.2K −$5.67/SF
NOI
$30.9K $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%
$617,340
Cap Rate 7%
$440,957
Cap Rate 9%
$342,967
Alternative Uses
Best Use
Multifamily LT 5
$441.0K
$385.8K – $514.5K
NOI $30,867 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$408.6K
$357.6K – $476.8K
NOI $28,605 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$734.0K
$642.2K – $856.3K
NOI $51,379 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Explore this area
Business Placement
Demographics for 33973, FL
12,728
Population
4,286
Households
3
Avg Household Size
28
Median Age
11%
College-Educated
81%
High-School Grad
3.8 sq mi
ZIP Area
3,349
Density / Sq Mi
$57,216
Median Household Income
$34,676
Median Earnings
$1,432
Median Rent
$334,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences provide three bedrooms, two bathrooms, and private garage access on each side.
Where is this duplex located?
The property is located at 845-847 Meadow Rd Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,332 square feet of building area; Each residence includes 3 bedrooms, 2 bathrooms, and an attached 1‑car garage; Built in 2025 and currently under construction
