Three-Bedroom Duplex with
For Sale
$410,000
110 Gretchen Ave S, Lehigh Acres, FL 33973
Residential Income, Duplex, LEHIGH ACRES, FL
Property Size2,156 SF
Lot Size0.29 Acres
Price / SF$190.17
Days on Market83
Property Features for 110 Gretchen Ave S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RM-2
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 1, Bedroom 6, Bathroom 2, Bathroom 4, Bedroom 3, Bathroom 1, Bedroom 4, Bedroom 2, Bedroom 5
Pets allowed
Yes
Subdivision
LEHIGH ACRES
Lot features
Regular, Regular
Standard status
Active
APN
33-44-26-L2-07005.0030
Size
2,156 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LEHIGH ESTATES UNIT 7 BLK 5 PB 15 PB 87 LOT 3
Tax Annual Amount
4473
Legal Description
LEHIGH ESTATES UNIT 7 BLK 5 PB 15 PB 87 LOT 3
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Well
Building Details
Year built
2007
Number of units
2
Flooring type
Tile
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Mato Realty, LLC
(239) 259-6286
Listed By:
Eloenia Jarquin De Miranda, PA
(239) 601-7046
Added: Jun 18
Changed: Sep 8
Last Checked: Sep 8 at 3:06PM
MLS# 226023466
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 2007 duplex contains 2,156 square feet across two residential units, with each unit configured with 3 bedrooms and 2 bathrooms. Tile flooring extends throughout the interiors, while kitchens include stainless steel appliances. Laundry facilities are located in the garages, and the building uses concrete block and stucco construction beneath a shingle roof. Central electric heating and central air conditioning serve the property.
The property sits on a 0.287-acre lot at 110 Gretchen Ave S in Lehigh Acres, near Lee Boulevard and Connery. Water is supplied by a well, and wastewater service is provided by a septic tank. RM-2 zoning supports the property's multifamily classification. The layout also accommodates an owner-occupant arrangement with one unit available for rental, as stated in the property information.
The property sits on a 0.287-acre lot at 110 Gretchen Ave S in Lehigh Acres, near Lee Boulevard and Connery. Water is supplied by a well, and wastewater service is provided by a septic tank. RM-2 zoning supports the property's multifamily classification. The layout also accommodates an owner-occupant arrangement with one unit available for rental, as stated in the property information.
Key Highlights
- Duplex with 2,156 square feet
- Each unit has 3 bedrooms and 2 bathrooms
- Built in 2007 on a 0.287‑acre lot
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
$28,537
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
6.96%
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%
$570,740
$570.7K
Cap Rate 7%
$407,671
$407.7K
Cap Rate 9%
$317,078
$317.1K
Market Conditions
NOI Build-Up for 2,156 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
$42.7K $19.80/SF
− Vacancy
−$1.9K −$0.89/SF
EGI
$40.8K $18.91/SF
− OpEx
−$12.2K −$5.67/SF
NOI
$28.5K $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%
$570,740
Cap Rate 7%
$407,671
Cap Rate 9%
$317,078
Alternative Uses
Best Use
Multifamily LT 5
$407.7K
$356.7K – $475.6K
NOI $28,537 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$377.8K
$330.6K – $440.8K
NOI $26,446 @ 7.0% cap · market cap 6.45%
Theoretical Best
Office A
$678.6K
$593.8K – $791.7K
NOI $47,501 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
203
Businesses Nearby
Explore this area
Business Placement
Demographics for 33973, FL
12,728
Population
4,286
Households
3
Avg Household Size
28
Median Age
11%
College-Educated
81%
High-School Grad
3.8 sq mi
ZIP Area
3,349
Density / Sq Mi
$57,216
Median Household Income
$34,676
Median Earnings
$1,432
Median Rent
$334,800
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 - Two residential units offer tile interiors, stainless steel appliances, and in-garage laundry within RM-2 zoning.
Where is this duplex located?
The property is located at 110 Gretchen Ave S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Duplex with 2,156 square feet; Each unit has 3 bedrooms and 2 bathrooms; Built in 2007 on a 0.287‑acre lot
