Duplex Under Construction with Impact
For Sale
$499,000
1010/1012 Gerald Avenue, Lehigh Acres, FL 33936
MULTI_FAMILY - Other - Lehigh Acres, FL
Property Size2,398 SF
Lot Size0.24 Acres
Price / SF$208.09
Days on Market56
Property Features for 1010/1012 Gerald Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning description
RM-2
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 1
Patio and Porch features
Patio
Pets allowed
Yes
Exterior features
Patio
Subdivision
LEHIGH ACRES
Lot features
Rectangular Lot
Standard status
Active
APN
22-44-27-L2-09033.0140
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LEHIGH ACRES UNIT 9 REPLT BLK 33 PB 12 PG 55 LOT 14
Tax Annual Amount
393
Legal Description
LEHIGH ACRES UNIT 9 REPLT BLK 33 PB 12 PG 55 LOT 14
Utilities
Sewer type
Septic Tank
Cooling system
Electric, Central Air
Water source
Well
Building Details
Year built
2025
Number of units
2
Flooring type
Tile
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Verawood Realty Inc
(305) 424-7280
Listed By:
Jorge Mata Mota · License #279614858
(561) 299-1019
Added: Jun 23
Changed: Aug 4
Last Checked: Aug 17 at 7:06AM
MLS# 2026027378
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. 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.
New construction duplex at 1010/1012 Gerald Avenue in Lehigh Acres, built in 2025 and listed as under construction. The property consists of two identical units, each featuring two bedrooms, two bathrooms, a den, and a one-car garage. Interiors include tile floors, quartz countertops, and stainless steel appliances, with impact windows and doors throughout. Both units include patio space and use electric central air conditioning. Construction materials are block, concrete, and stucco, with a shingle roof.
The duplex is described as fully leased, with leases commencing August 2026 and annual lease terms. Both units are stated as already contracted for occupancy, with no lease-up or vacancy period identified for new owners. Water and sewer costs are eliminated for tenants through a well water source and septic tank system. No HOA is noted for the property.
For buyers seeking a new-build duplex with current contractual occupancy through the lease start date, this setup pairs modern interior finishes with tenant-focused utility structure via well and septic.
The duplex is described as fully leased, with leases commencing August 2026 and annual lease terms. Both units are stated as already contracted for occupancy, with no lease-up or vacancy period identified for new owners. Water and sewer costs are eliminated for tenants through a well water source and septic tank system. No HOA is noted for the property.
For buyers seeking a new-build duplex with current contractual occupancy through the lease start date, this setup pairs modern interior finishes with tenant-focused utility structure via well and septic.
Key Highlights
- Two identical units in a new construction duplex built in 2025
- Each unit offers two bedrooms, two bathrooms, a den, and a one‑car garage
- Tile floors, quartz countertops, and stainless steel appliances in both units
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
$31,741
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
6.36%
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%
$634,820
$634.8K
Cap Rate 7%
$453,443
$453.4K
Cap Rate 9%
$352,678
$352.7K
Market Conditions
NOI Build-Up for 2,398 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
$47.5K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$45.3K $18.91/SF
− OpEx
−$13.6K −$5.67/SF
NOI
$31.7K $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%
$634,820
Cap Rate 7%
$453,443
Cap Rate 9%
$352,678
Alternative Uses
Best Use
Multifamily LT 5
$453.4K
$396.8K – $529.0K
NOI $31,741 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$420.2K
$367.7K – $490.2K
NOI $29,414 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$754.8K
$660.4K – $880.6K
NOI $52,833 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
97
Businesses Nearby
Explore this area
Business Placement
Demographics for 33936, FL
24,051
Population
10,820
Households
2.2
Avg Household Size
45
Median Age
14%
College-Educated
78%
High-School Grad
36.1 sq mi
ZIP Area
666
Density / Sq Mi
$48,260
Median Household Income
$27,363
Median Earnings
$1,260
Median Rent
$205,500
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 - Two identical new duplex units with 2-bed layouts, dens, garages, tile finishes, and impact windows and doors.
Where is this duplex located?
The property is located at 1010/1012 Gerald Avenue Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Two identical units in a new construction duplex built in 2025; Each unit offers two bedrooms, two bathrooms, a den, and a one‑car garage; Tile floors, quartz countertops, and stainless steel appliances in both units
