840/842 Milwaukee Boulevard
About This Property
Located in a quiet but developing neighborhood this lot offers the ideal mix of privacy and convenience. The RM-2 zoning supports a range of residential uses and its duplex-ready status makes it a great option for rental income or multi-generational living. Key Features: Zoning RM-2 - Multifamily Residential - Duplex permitted, Use Build a duplex or hold for future development, Utilities Power nearby - water and septic needed - check with Lee County for current availability, Lot Size Standard residential parcel - contact for exact dimensions or parcel ID, Location Benefits Close to schools shopping parks and major roadways, Lehigh Acres is one of the most affordable and fast-growing areas in Southwest Florida. With easy access to Fort Myers I-75 and Southwest Florida International Airport this area is attracting new residents and investors every day. Whether you are an experienced investor or a first-time builder this lot offers solid potential in a high-demand market. Do not miss out on the chance to own a duplex-zoned lot in one of Floridas most active real estate markets. Contact us today for more information or to make an offer.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 25, 2025 | Sold | ||
| Sold | |||
| Jul 29, 2025 | In contract | - | |
| In contract | |||
| Jun 17, 2025 | Listed by EXP Realty LLC | $49,000 | |
| Listed by EXP Realty LLC | |||
| Jun 29, 2022 | No longer available | - | |
| No longer available | |||
| Jun 15, 2022 | In contract | - | |
| In contract | |||
Property Highlights
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About Eisenhower
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017