Ranch Duplex Under
For Sale
$499,999
1132/ 1134 Harold Avenue S, Lehigh Acres, FL 33973
MULTI_FAMILY - Ranch - Lehigh Acres, FL
Property Size2,392 SF
Lot Size0.29 Acres
Price / SF$209.03
Days on Market758
Property Features for 1132/ 1134 Harold Avenue S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning description
RM-2
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 2, Bedroom 3, Bedroom 6, Bedroom 4, Bathroom 3, Bathroom 2, Bedroom 1, Bedroom 5, Bathroom 1
Pets allowed
Yes
Subdivision
LEHIGH ACRES
Lot features
Oversized Lot
Directions
GPS
Standard status
Active
APN
33-44-26-L3-07018.0090
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
LEHIGH ESTATES UNIT 7 BLK.18 PB 15 PG 87 LOT 9
Tax Annual Amount
420
Legal Description
LEHIGH ESTATES UNIT 7 BLK.18 PB 15 PG 87 LOT 9
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Well
Building Details
Year built
2024
Floors in Building
1
Number of units
2
Flooring type
Tile
Building materials
Block, Concrete
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
MGR Realty Services, Inc.
(239) 491-6201
Listed By:
Katia Pazo · License #258023860
(239) 289-4312
Added: Jul 24, 2024
Changed: Aug 2
Last Checked: Aug 20 at 2:06PM
MLS# 224061753
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 2024 ranch duplex at 1132/1134 Harold Avenue S in Lehigh Acres, built with block and concrete construction. The property consists of two mirrored sides, each offering three bedrooms and two bathrooms. Each side includes 1,196 SF of living area and 1,640 SF total area, with tile flooring throughout.
Interiors feature stainless steel appliances, quartz countertops in the kitchen and baths, and wood cabinetry with upgraded master bath finishes. Highlights include a walk-in master closet, dual sinks in the master bath, and tray ceilings in the living room, dining room, and master bedroom.
The duplex is heated and cooled with electric central systems, and it has a shingle roof. Water service is from a well and wastewater is provided by a septic tank. Construction is described as under construction with a Certificate of Occupancy issued 09/12/2024, and the property is noted as not located in a flood zone.
Interiors feature stainless steel appliances, quartz countertops in the kitchen and baths, and wood cabinetry with upgraded master bath finishes. Highlights include a walk-in master closet, dual sinks in the master bath, and tray ceilings in the living room, dining room, and master bedroom.
The duplex is heated and cooled with electric central systems, and it has a shingle roof. Water service is from a well and wastewater is provided by a septic tank. Construction is described as under construction with a Certificate of Occupancy issued 09/12/2024, and the property is noted as not located in a flood zone.
Key Highlights
- Two mirrored sides, each with three bedrooms and two bathrooms
- Tile flooring throughout and stainless steel appliances
- Quartz countertops in kitchen and bathrooms with wood cabinetry and upgraded master bath
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
$31,661
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
6.33%
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%
$633,220
$633.2K
Cap Rate 7%
$452,300
$452.3K
Cap Rate 9%
$351,789
$351.8K
Market Conditions
NOI Build-Up for 2,392 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
$47.4K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$45.2K $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%
$633,220
Cap Rate 7%
$452,300
Cap Rate 9%
$351,789
Alternative Uses
Best Use
Multifamily LT 5
$452.3K
$395.8K – $527.7K
NOI $31,661 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$419.2K
$366.8K – $489.0K
NOI $29,341 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$752.9K
$658.8K – $878.4K
NOI $52,701 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
94
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 - Newly built ranch duplex with three-bedroom, two-bath units, tile flooring, electric central HVAC, and well/septic service.
Where is this duplex located?
The property is located at 1132/ 1134 Harold Avenue S 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: Two mirrored sides, each with three bedrooms and two bathrooms; Tile flooring throughout and stainless steel appliances; Quartz countertops in kitchen and bathrooms with wood cabinetry and upgraded master bath
