New Construction Warehouse with
For Sale
$2,100,000
121 Gretchen Ave S, Lehigh Acres, FL 33973
New construction warehouse with office space for sale or lease.
Property Size5,733 SF
Price / SF$366.30
Days on Market522
Property Features for 121 Gretchen Ave S
General Information
Standard status
Active
Size
5,733 SF
Property subtype
Commercial
Building Details
Year Built
2026
Listing Agency:
Florida RE Professionals LLC
Listed By:
David Samadnejad
(239) 791-8320
Source:
Naplespropertyguide
Added: Apr 25, 2025
Changed: Sep 9
Last Checked: Sep 28 at 8:10AM
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 Florida RE Professionals LLC
Investment Insights
Based on property information with market context.
This new construction warehouse, slated for completion in December, offers approximately 4,507 square feet of warehouse or shop space, complemented by 1,226 square feet of office space. The property is situated in a central location on a busy main road in Lehigh Acres. The layout is designed for efficiency, and the zoning accommodates a range of commercial and light industrial uses.
Key Highlights
- New construction warehouse, ready this December
- Approximately 4,507 sqft Warehouse/Shop Space and 1,226 sqft Office Space
- Centrally located on busy main road
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
$98,521
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
4.69%
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%
$1,970,420
$2.0M
Cap Rate 7%
$1,407,443
$1.4M
Cap Rate 9%
$1,094,678
$1.1M
Market Conditions
NOI Build-Up for 5,733 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
$143.1K $24.96/SF
− Vacancy
−$11.7K −$2.05/SF
EGI
$131.4K $22.91/SF
− OpEx
−$32.8K −$5.73/SF
NOI
$98.5K $17.18/SF
Area
Lee County, FL
Vacancy
8.20%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
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%
$1,970,420
Cap Rate 7%
$1,407,443
Cap Rate 9%
$1,094,678
Alternative Uses
Best Use
Office B
$1.41M
$1.23M – $1.64M
NOI $98,521 @ 7.0% cap · market cap 4.69%
Second Best
Warehouse
$835.0K
$730.7K – $974.2K
NOI $58,453 @ 7.0% cap · market cap 2.78%
Theoretical Best
Office A
$1.80M
$1.58M – $2.11M
NOI $126,309 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
203
Businesses Nearby
Balanced
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Warehouse - New construction warehouse with office space for sale or lease.
Where is this warehouse located?
The property is located at 121 Gretchen Ave S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: New construction warehouse, ready this December; Approximately **4,507 sqft Warehouse/Shop Space** and **1,226 sqft Office Space**; Centrally located on busy main road
