Three-Bedroom Duplex with
For Sale
$410,000
110 Gretchen Ave S, Lehigh Acres, FL 33973
RM-2-zoned duplex with tile flooring, stainless steel appliances, and garage-based laundry serving both residences.
Property Size2,156 SF
Days on Market64
Property Features for 110 Gretchen Ave S
General Information
Standard status
Active
Size
2,156 SF
Property subtype
Residential Income
Zoning
RM-2
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,472
Amenities
stainless steel appliances
laundry in garage
tile flooring
Building Details
Building Size
2,156 SF
Year Built
2007
Units
2
Listing Agency:
Mato Realty, LLC
(504) 435-2328
Listed By:
Eloenia Jarquin De Miranda, PA
(504) 435-2328
Source:
Bartleyrealty
Added: Jun 18
Changed: Aug 20
Last Checked: Aug 20 at 5:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mato Realty, LLC
Investment Insights
Based on property information with market context.
Built in 2007, this duplex includes two residences with the same three-bedroom, two-bathroom layout. Tile flooring extends throughout each unit, while the kitchens include stainless steel appliances. Laundry facilities are located in the garages, providing dedicated utility space for each residence.
The property is located at 110 Gretchen Ave S in Lehigh Acres, near Lee Boulevard and Connery. Restaurants, convenience stores, and local business activity are nearby, with access to major roads supporting movement through the surrounding area. RM-2 zoning and the two-unit configuration provide a clearly defined multifamily property format.
The property is located at 110 Gretchen Ave S in Lehigh Acres, near Lee Boulevard and Connery. Restaurants, convenience stores, and local business activity are nearby, with access to major roads supporting movement through the surrounding area. RM-2 zoning and the two-unit configuration provide a clearly defined multifamily property format.
Key Highlights
- Two‑unit property with 3 bedrooms and 2 bathrooms in each residence
- Tile flooring throughout both units
- Stainless steel appliances in each kitchen
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 - RM-2-zoned duplex with tile flooring, stainless steel appliances, and garage-based laundry serving both residences.
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: Two‑unit property with 3 bedrooms and 2 bathrooms in each residence; Tile flooring throughout both units; Stainless steel appliances in each kitchen
