New Construction
For Sale
$430,000
303 Norwalk Ave, Lehigh Acres, FL 33972
Residential Income, Duplex, LEHIGH ACRES, FL
Property Size2,400 SF
Lot Size0.36 Acres
Price / SF$179.17
Days on Market71
Property Features for 303 Norwalk Ave
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 2, Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 1
Pets allowed
Yes
Fencing
Fenced
Subdivision
LEHIGH ACRES
Lot features
Regular, Regular
Standard status
Active
APN
04-44-27-L3-18095.0050
Size
2,400 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
GREENBRIAR UNIT 18 PT E BLK 95 PB 27 PG 29 LOT 5
Tax Annual Amount
497
Legal Description
GREENBRIAR UNIT 18 PT E BLK 95 PB 27 PG 29 LOT 5
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Well
Amenities
screened lanai
metal fence
Building Details
Year built
2026
Number of units
2
Flooring type
Tile
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Xclusive Homes LLC
(239) 228-6242
Listed By:
Maria Rojas · License #NAPLES-249522371
(239) 877-7394
Added: Jun 29
Changed: Sep 5
Last Checked: Sep 7 at 5:06PM
MLS# 226024493
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 under-construction duplex is planned as a 2,400-square-foot residential income property with two residences. Each side includes three bedrooms, two bathrooms, a living area, a screened lanai, porcelain tile flooring, stainless steel appliances, quartz countertops, white cabinetry, and impact windows and doors. Concrete block and stucco construction, shingle roofing, central electric heating, and central air conditioning are specified.
The property occupies 0.3567 acres at 303 Norwalk Ave in Lehigh Acres, Florida. The site will include metal fencing and is served by a well and septic tank. Construction is identified for completion in 2026, with RM-2 zoning.
The property occupies 0.3567 acres at 303 Norwalk Ave in Lehigh Acres, Florida. The site will include metal fencing and is served by a well and septic tank. Construction is identified for completion in 2026, with RM-2 zoning.
Key Highlights
- Two‑unit duplex with 2,400 square feet total
- Each side includes 3 bedrooms, 2 bathrooms, and a living area
- 0.3567‑acre site at 303 Norwalk Ave, Lehigh Acres, FL 33972
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
$31,767
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
7.39%
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%
$635,340
$635.3K
Cap Rate 7%
$453,814
$453.8K
Cap Rate 9%
$352,967
$353.0K
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
$47.5K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$45.4K $18.91/SF
− OpEx
−$13.6K −$5.67/SF
NOI
$31.8K $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%
$635,340
Cap Rate 7%
$453,814
Cap Rate 9%
$352,967
Alternative Uses
Best Use
Multifamily LT 5
$453.8K
$397.1K – $529.5K
NOI $31,767 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$420.6K
$368.0K – $490.7K
NOI $29,439 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$755.4K
$661.0K – $881.3K
NOI $52,877 @ 7.0% cap · market cap 12.30%
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
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 33972, FL
14,727
Population
5,422
Households
2.7
Avg Household Size
37
Median Age
20%
College-Educated
87%
High-School Grad
25.3 sq mi
ZIP Area
582
Density / Sq Mi
$73,239
Median Household Income
$40,058
Median Earnings
$1,537
Median Rent
$290,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured residences feature contemporary finishes, private outdoor space, and fenced-site security.
Where is this duplex located?
The property is located at 303 Norwalk Ave Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,400 square feet total; Each side includes 3 bedrooms, 2 bathrooms, and a living area; 0.3567‑acre site at 303 Norwalk Ave, Lehigh Acres, FL 33972
