Duplex with Tile
For Sale
$440,000
116/118 Gordon Ave S, Lehigh Acres, FL 33973
Two residential units feature kitchens, tiled floors, a large yard, and ample parking.
Property Size3,240 SF
Price / SF$135.80
Days on Market551
Property Features for 116/118 Gordon Ave S
General Information
Standard status
Active
Size
3,240 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2004
Buildings
1
Listing Agency:
Mamba Realty LLC
Listed By:
Carmen Ramos · License #279663153
(786) 217-4935
Source:
Swflhousesforsale
Added: Apr 16, 2025
Changed: Oct 16
Last Checked: Oct 16 at 9:38AM
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 Mamba Realty LLC
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Investment Insights
Based on property information with market context.
Built in 2004, this 3,240-square-foot duplex contains two residential units, each with three bedrooms, two bathrooms, and a kitchen. Tile flooring is featured throughout the units, and the property also includes a newer roof, a large yard, and ample parking.
The property is located at 116/118 Gordon Ave S in Lehigh Acres, Florida, near shopping, dining, schools, and major roadways. Its two-unit configuration provides flexibility for an owner seeking residential space alongside rental use or for operating both sides as income-producing units.
The property is located at 116/118 Gordon Ave S in Lehigh Acres, Florida, near shopping, dining, schools, and major roadways. Its two-unit configuration provides flexibility for an owner seeking residential space alongside rental use or for operating both sides as income-producing units.
Key Highlights
- 3,240‑square‑foot duplex built in 2004
- Each unit includes 3 bedrooms and 2 bathrooms
- Kitchens and tile flooring in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,743
Cap Rate
9.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$794,860
$794.9K
Cap Rate 7%
$567,757
$567.8K
Cap Rate 9%
$441,589
$441.6K
Market Conditions
NOI Build-Up for 3,240 SF
Gross rent
$75.4K $23.28/SF
− Vacancy
−$3.2K −$0.98/SF
EGI
$72.3K $22.30/SF
− OpEx
−$32.5K −$10.04/SF
NOI
$39.7K $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 Rate 5%
$794,860
Cap Rate 7%
$567,757
Cap Rate 9%
$441,589
Alternative Uses
Best Use
Multifamily LT 5
$612.7K
$536.1K – $714.8K
NOI $42,886 @ 7.0% cap · market cap 9.75%
Second Best
Apartment 5plus
$567.8K
$496.8K – $662.4K
NOI $39,743 @ 7.0% cap · market cap 9.03%
Theoretical Best
Office A
$1.02M
$892.3K – $1.19M
NOI $71,384 @ 7.0% cap · market cap 16.22%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
201
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature kitchens, tiled floors, a large yard, and ample parking.
Where is this duplex located?
The property is located at 116/118 Gordon Ave S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: 3,240‑square‑foot duplex built in 2004; Each unit includes 3 bedrooms and 2 bathrooms; Kitchens and tile flooring in both units
