Two-Unit Duplex with Fenced
For Sale
$444,900
915-917 Graystone Ave, Lehigh Acres, FL 33974
Each residence offers three bedrooms, in-unit laundry, and a private fenced backyard.
Property Size2,230 SF
Price / SF$199.51
Days on Market98
Property Features for 915-917 Graystone Ave
General Information
Standard status
Active
Size
2,230 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Amenities
in-unit laundry
fenced backyards
Building Details
Year Built
2024
Buildings
1
Listing Agency:
Coldwell Banker Realty
(239) 851-5600
Listed By:
Damon Vetere · License #258019645
Source:
Swflhousesforsale
Added: May 26
Changed: Aug 31
Last Checked: Aug 30 at 5:50PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 2024, this duplex contains two residences totaling 2230 SF. Both units feature tile flooring, in-unit laundry, and separate fenced backyards. Each floor plan includes three bedrooms, with a primary suite offering an en-suite bathroom and walk-in closet. Kitchens are equipped with granite countertops, wood cabinetry, and stainless-steel appliances.
The property includes impact windows and doors throughout and is situated in Flood Zone X. Its Lehigh Acres location places the duplex near parks, shopping, dining, and major roadways, with access to Fort Myers and surrounding areas. Unit 915 is leased at $1540 per month through March 2027.
The property includes impact windows and doors throughout and is situated in Flood Zone X. Its Lehigh Acres location places the duplex near parks, shopping, dining, and major roadways, with access to Fort Myers and surrounding areas. Unit 915 is leased at $1540 per month through March 2027.
Key Highlights
- Two‑unit duplex built in 2024
- 2230 SF total property size
- Each unit includes three bedrooms, a primary en‑suite bath, and a walk‑in closet
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
$23,728
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
5.33%
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%
$474,560
$474.6K
Cap Rate 7%
$338,971
$339.0K
Cap Rate 9%
$263,644
$263.6K
Market Conditions
NOI Build-Up for 2,230 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
$36.1K $16.20/SF
− Vacancy
−$2.2K −$1.00/SF
EGI
$33.9K $15.20/SF
− OpEx
−$10.2K −$4.56/SF
NOI
$23.7K $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%
$474,560
Cap Rate 7%
$338,971
Cap Rate 9%
$263,644
Alternative Uses
Best Use
Multifamily LT 5
$339.0K
$296.6K – $395.5K
NOI $23,728 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$294.9K
$258.0K – $344.0K
NOI $20,642 @ 7.0% cap · market cap 4.64%
Theoretical Best
Specialty Retail
$858.5K
$751.2K – $1.00M
NOI $60,094 @ 7.0% cap · market cap 13.51%
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
9
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 - Each residence offers three bedrooms, in-unit laundry, and a private fenced backyard.
Where is this duplex located?
The property is located at 915-917 Graystone Ave Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $444,900.
What are key features of this property?
This property features: Two‑unit duplex built in 2024; 2230 SF total property size; Each unit includes three bedrooms, a primary en‑suite bath, and a walk‑in closet
