New Duplex with Oversized
For Sale
$499,999
535-537 Ladd St, Lehigh Acres, FL 33974
MULTI_FAMILY - Other - LEHIGH ACRES, FL
Property Size3,140 SF
Lot Size0.29 Acres
Price / SF$159.24
Days on Market69
Property Features for 535-537 Ladd St
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
RM-2
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 6, Bathroom 1, Bedroom 5, Bathroom 2, Bathroom 3, Bedroom 1, Bathroom 4
Pets allowed
Yes
Subdivision
LEHIGH ACRES
Lot features
Oversize, Oversize
Standard status
Active
APN
28-45-27-L1-06025.0220
Size
3,140 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LEHIGH ACRES UNIT 6 BLK 25 PB 20 PG 60 LOT 22
Tax Annual Amount
400
Legal Description
LEHIGH ACRES UNIT 6 BLK 25 PB 20 PG 60 LOT 22
Utilities
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Well
Amenities
covered tiled lanai
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:
Premiere Plus Realty Company
(239) 732-7837
Listed By:
Gio Valencia · License #249525717
(239) 285-9065
Added: Jun 9
Changed: Aug 13
Last Checked: Aug 16 at 9:06AM
MLS# 226021854
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.
New duplex under construction in Lehigh Acres on a 0.2857-acre lot, with access to the back of the property and an enlarged covered tiled lanai. The property is listed as 3,140 square feet and is framed in concrete block and stucco construction with a shingle roof.
The plan provides two units, with each unit offering three bedrooms and two bathrooms. The interior includes tile flooring, recessed LED lighting, and modern kitchen and bath finishes. Kitchens feature quartz countertops with matching backsplashes and stainless steel appliances, while both bathrooms include quartz vanities. Each unit also includes dedicated laundry areas located in the garages, with custom closet systems and ventilated pantry shelving.
Built for durability, the duplex includes impact-resistant windows and doors, a security camera system, sprinkler irrigation, premium rock landscaping, and complete gutters and soffits. The water source is a well and the sewer is a septic tank. Heating and cooling are electric central systems.
Construction materials and systems include a 1-year builder warranty on appliances and systems and a 10-year structural warranty. Zoning is RM-2, with the address at 535-537 Ladd St, Lehigh Acres, FL 33974.
The plan provides two units, with each unit offering three bedrooms and two bathrooms. The interior includes tile flooring, recessed LED lighting, and modern kitchen and bath finishes. Kitchens feature quartz countertops with matching backsplashes and stainless steel appliances, while both bathrooms include quartz vanities. Each unit also includes dedicated laundry areas located in the garages, with custom closet systems and ventilated pantry shelving.
Built for durability, the duplex includes impact-resistant windows and doors, a security camera system, sprinkler irrigation, premium rock landscaping, and complete gutters and soffits. The water source is a well and the sewer is a septic tank. Heating and cooling are electric central systems.
Construction materials and systems include a 1-year builder warranty on appliances and systems and a 10-year structural warranty. Zoning is RM-2, with the address at 535-537 Ladd St, Lehigh Acres, FL 33974.
Key Highlights
- New duplex under construction at 535‑537 Ladd St, Lehigh Acres, FL 33974
- 0.2857‑acre lot with access to the back of the property plus an enlarged covered tiled lanai
- 2026 construction with 3,140 square feet of total building area
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
$33,411
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
6.68%
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%
$668,220
$668.2K
Cap Rate 7%
$477,300
$477.3K
Cap Rate 9%
$371,233
$371.2K
Market Conditions
NOI Build-Up for 3,140 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
$50.9K $16.20/SF
− Vacancy
−$3.1K −$1.00/SF
EGI
$47.7K $15.20/SF
− OpEx
−$14.3K −$4.56/SF
NOI
$33.4K $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%
$668,220
Cap Rate 7%
$477,300
Cap Rate 9%
$371,233
Alternative Uses
Best Use
Multifamily LT 5
$477.3K
$417.6K – $556.9K
NOI $33,411 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$415.2K
$363.3K – $484.4K
NOI $29,065 @ 7.0% cap · market cap 5.81%
Theoretical Best
Specialty Retail
$1.21M
$1.06M – $1.41M
NOI $84,616 @ 7.0% cap · market cap 16.92%
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
11
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 - Duplex under construction on a 0.2857-acre lot in RM-2 zoning, with two separate three-bedroom, two-bath units.
Where is this duplex located?
The property is located at 535-537 Ladd St Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: New duplex under construction at 535‑537 Ladd St, Lehigh Acres, FL 33974; 0.2857‑acre lot with access to the back of the property plus an enlarged covered tiled lanai; 2026 construction with 3,140 square feet of total building area
