Corner-Lot
For Sale
$524,900
884-886 Milwaukee Blvd, Lehigh Acres, FL 33974
Residential Income, 1 Story/Ranch, Contemporary, Corner, Duplex, LEHIGH ACRES, FL
Property Size2,400 SF
Lot Size0.28 Acres
Price / SF$218.71
Days on Market57
Property Features for 884-886 Milwaukee Blvd
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
RM-2
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 1
Patio and Porch features
Patio
Pets allowed
Yes
Subdivision
LEHIGH ACRES
Lot features
Corner Lot, Oversize, Corner Lot, Oversize
Standard status
Active
APN
15-45-27-L3-15095.0130
Size
2,400 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LEHIGH ACRES UNIT 15 BLK 95 PB 18 PG 51 LOT 13
Tax Annual Amount
6319
Legal Description
LEHIGH ACRES UNIT 15 BLK 95 PB 18 PG 51 LOT 13
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Exhaust Fan (Cooling), Ceiling Fan(s), Central Air, Electric
Water source
Well
Amenities
high ceilings
quartz countertops
kitchen island
stainless steel Whirlpool appliances
porcelain tile
tray ceilings
impact-resistant windows
Building Details
Year built
2026
Number of units
2
Flooring type
Tile
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Contemporary, Ranch
Listing Agency:
Realty One Group MVP
(800) 896-8790
Listed By:
Gloria Velez, LLC · License #NAPLES-249515950
(239) 784-6427
Added: Jul 12
Changed: Sep 3
Last Checked: Sep 6 at 10:06PM
MLS# 226025855
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 occupies a 0.2804-acre corner lot at 884-886 Milwaukee Blvd in Lehigh Acres. The 2,400-square-foot property is designed with each residence facing a different street, providing physical separation between the units. The ranch-style construction uses concrete block and stucco, with tile flooring, a shingle roof, patios, and central electric heating and cooling.
Interior finishes include quartz surfaces, kitchen islands, stainless steel Whirlpool appliances, porcelain tile, high ceilings, and tray ceilings in select living areas. The property is served by a private well and septic tank and is zoned RM-2. One unit is currently rented, while the surrounding area includes access to golf courses, shopping, schools, dining, and other local amenities.
Interior finishes include quartz surfaces, kitchen islands, stainless steel Whirlpool appliances, porcelain tile, high ceilings, and tray ceilings in select living areas. The property is served by a private well and septic tank and is zoned RM-2. One unit is currently rented, while the surrounding area includes access to golf courses, shopping, schools, dining, and other local amenities.
Key Highlights
- Duplex on a 0.2804‑acre corner lot
- 2,400 square feet with each unit facing a different street
- One unit is currently rented
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
4.87%
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 4.87%
Second Best
Apartment 5plus
$317.4K
$277.7K – $370.3K
NOI $22,216 @ 7.0% cap · market cap 4.23%
Theoretical Best
Specialty Retail
$923.9K
$808.4K – $1.08M
NOI $64,675 @ 7.0% cap · market cap 12.32%
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
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 - Separate street orientations give the two residences a more independent residential layout than a conventional duplex.
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 $524,900.
What are key features of this property?
This property features: Duplex on a 0.2804‑acre corner lot; 2,400 square feet with each unit facing a different street; One unit is currently rented
