Two-Unit Duplex
For Sale
$299,000
Pending
1133/1135 Gordon Ave S, Lehigh Acres, FL 33973
Two residential units offer a three-bedroom, two-bath layout with renovation needs and rental-use potential.
Property Size2,228 SF
Days on Market58
Property Features for 1133/1135 Gordon Ave S
General Information
Standard status
Pending
Size
2,228 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
needs TLC
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
2007
Listing Agency:
Compass Florida LLC
(239) 244-5876
Listed By:
Skirmantas Balciunas · License #258031523
Source:
Napleshomesearcher
Added: Jul 6
Changed: Aug 31
Last Checked: Aug 31 at 5:26PM
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 Compass Florida LLC
Investment Insights
Based on property information with market context.
This duplex contains two separate residential units, each configured with three bedrooms and two bathrooms across 1,114 square feet of living space. Completed in 2007, the property is offered in as-is condition and requires TLC, presenting a renovation-oriented configuration for an owner or investor evaluating a residential income property.
The property is located on Gordon Ave S in Lehigh Acres, with access to SR 82 and Daniels Parkway. Southwest Florida International Airport, shopping, dining, schools, and major employers are described as nearby, while Fort Myers is accessible from the area. The combined building size is 2,228 square feet.
The property is located on Gordon Ave S in Lehigh Acres, with access to SR 82 and Daniels Parkway. Southwest Florida International Airport, shopping, dining, schools, and major employers are described as nearby, while Fort Myers is accessible from the area. The combined building size is 2,228 square feet.
Key Highlights
- Two‑unit duplex with 2,228 square feet total
- Each unit includes 3 bedrooms, 2 bathrooms, and 1,114 square feet
- Built in 2007
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
$27,329
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
9.14%
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%
$546,580
$546.6K
Cap Rate 7%
$390,414
$390.4K
Cap Rate 9%
$303,656
$303.7K
Market Conditions
NOI Build-Up for 2,228 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
$51.9K $23.28/SF
− Vacancy
−$2.2K −$0.98/SF
EGI
$49.7K $22.30/SF
− OpEx
−$22.4K −$10.04/SF
NOI
$27.3K $12.27/SF
Area
Lee County, FL
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$546,580
Cap Rate 7%
$390,414
Cap Rate 9%
$303,656
Alternative Uses
Best Use
Multifamily LT 5
$421.3K
$368.6K – $491.5K
NOI $29,490 @ 7.0% cap · market cap 9.86%
Second Best
Apartment 5plus
$390.4K
$341.6K – $455.5K
NOI $27,329 @ 7.0% cap · market cap 9.14%
Theoretical Best
Office A
$701.2K
$613.6K – $818.1K
NOI $49,087 @ 7.0% cap · market cap 16.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
90
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 a three-bedroom, two-bath layout with renovation needs and rental-use potential.
Where is this duplex located?
The property is located at 1133/1135 Gordon Ave S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,228 square feet total; Each unit includes 3 bedrooms, 2 bathrooms, and 1,114 square feet; Built in 2007
