Corner-Lot Duplex with
For Sale
$534,900
884-886 Milwaukee Blvd, Lehigh Acres, FL 33974
Newly built duplex with private unit orientations, modern finishes, and one residence already producing rental income.
Property Size2,400 SF
Price / SF$222.88
Days on Market40
Property Features for 884-886 Milwaukee Blvd
General Information
Standard status
Active
Size
2,400 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Realty One Group MVP
(239) 784-6427
Listed By:
Gloria Velez, LLC · License #249515950
Source:
Naplesareapropertysearch
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 25 at 7:18AM
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 Realty One Group MVP
Investment Insights
Based on property information with market context.
Completed in 2026, this 2,400-square-foot duplex is designed with each residence oriented toward a separate street, providing added separation between the units. Each side includes three bedrooms, two full bathrooms, a one-car garage, and an open living area connected to a modern kitchen. The interiors feature quartz countertops, kitchen islands, stainless steel Whirlpool appliances, porcelain tile flooring, high ceilings, tray ceilings in select rooms, and impact-resistant windows.
One unit is currently rented, while the second can support owner occupancy or an additional lease. The property is positioned near golf courses, shopping, schools, restaurants, and other local amenities.
One unit is currently rented, while the second can support owner occupancy or an additional lease. The property is positioned near golf courses, shopping, schools, restaurants, and other local amenities.
Key Highlights
- 2,400 SF duplex completed in 2026
- Each unit faces a different street for added separation
- Both residences offer 3 bedrooms, 2 full bathrooms, and a 1‑car garage
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
$25,537
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
4.77%
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%
$510,740
$510.7K
Cap Rate 7%
$364,814
$364.8K
Cap Rate 9%
$283,744
$283.7K
Market Conditions
NOI Build-Up for 2,400 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
$38.9K $16.20/SF
− Vacancy
−$2.4K −$1.00/SF
EGI
$36.5K $15.20/SF
− OpEx
−$10.9K −$4.56/SF
NOI
$25.5K $10.64/SF
Area
ZIP 33974
Vacancy
6.17%
Lease Rate
$16.20 /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%
$510,740
Cap Rate 7%
$364,814
Cap Rate 9%
$283,744
Alternative Uses
Best Use
Multifamily LT 5
$364.8K
$319.2K – $425.6K
NOI $25,537 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$317.4K
$277.7K – $370.3K
NOI $22,216 @ 7.0% cap · market cap 4.15%
Theoretical Best
Specialty Retail
$923.9K
$808.4K – $1.08M
NOI $64,675 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
38
Businesses Nearby
Explore this area
Business Placement
Demographics for 33974, FL
17,233
Population
5,771
Households
3
Avg Household Size
33
Median Age
16%
College-Educated
84%
High-School Grad
22.4 sq mi
ZIP Area
769
Density / Sq Mi
$65,809
Median Household Income
$33,982
Median Earnings
$1,698
Median Rent
$272,800
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 - Newly built duplex with private unit orientations, modern finishes, and one residence already producing rental income.
Where is this duplex located?
The property is located at 884-886 Milwaukee Blvd Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $534,900.
What are key features of this property?
This property features: 2,400 SF duplex completed in 2026; Each unit faces a different street for added separation; Both residences offer 3 bedrooms, 2 full bathrooms, and a 1‑car garage
