Newly Built Three-Bedroom
For Sale
$499,999
1132/ 1134 Harold AVE S, Lehigh Acres, FL 33973
Each residence features two bathrooms, stainless steel appliances, and quartz countertops in the kitchens and baths.
Property Size2,392 SF
Price / SF$152.44
Days on Market770
Property Features for 1132/ 1134 Harold AVE S
General Information
Standard status
Active
Size
2,392 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$419
Building Details
Building Size
2,392 SF
Year Built
2024
Buildings
1
Listing Agency:
MGR Realty Services, Inc.
(239) 289-4312
Listed By:
Katia Pazo · License #258023860
Source:
Kwelevate
Added: Jul 24, 2024
Changed: Aug 31
Last Checked: Aug 31 at 9:30PM
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 MGR Realty Services, Inc.
Investment Insights
Based on property information with market context.
Completed in 2024, this duplex includes two residences with matching layouts. Each side provides 1,196 square feet of living area and 1,640 square feet of total area, with three bedrooms and two bathrooms. Interior finishes include porcelain tile flooring, stainless steel appliances, quartz countertops, wood cabinetry, dual sinks in the primary bathroom, and a walk-in primary closet. Tray ceilings appear in the living, dining, and primary bedrooms, while the floor plan is designed to provide a spacious interior feel.
The property is located at 1132/1134 Harold AVE S in Lehigh Acres, with access to Fort Myers. It is not located in a flood zone, and the certificate of occupancy was issued 09/12/2024.
The property is located at 1132/1134 Harold AVE S in Lehigh Acres, with access to Fort Myers. It is not located in a flood zone, and the certificate of occupancy was issued 09/12/2024.
Key Highlights
- Two three‑bedroom, two‑bath residences
- 1,196 SF of living area and 1,640 SF of total area per side
- Built in 2024; CO issued 09/12/2024
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
$43,415
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
8.68%
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%
$868,300
$868.3K
Cap Rate 7%
$620,214
$620.2K
Cap Rate 9%
$482,389
$482.4K
Market Conditions
NOI Build-Up for 3,280 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
$64.9K $19.80/SF
− Vacancy
−$2.9K −$0.89/SF
EGI
$62.0K $18.91/SF
− OpEx
−$18.6K −$5.67/SF
NOI
$43.4K $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%
$868,300
Cap Rate 7%
$620,214
Cap Rate 9%
$482,389
Alternative Uses
Best Use
Multifamily LT 5
$620.2K
$542.7K – $723.6K
NOI $43,415 @ 7.0% cap · market cap 8.68%
Second Best
Apartment 5plus
$574.8K
$502.9K – $670.6K
NOI $40,233 @ 7.0% cap · market cap 8.05%
Theoretical Best
Office A
$1.03M
$903.3K – $1.20M
NOI $72,265 @ 7.0% cap · market cap 14.45%
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
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 - Each residence features two bathrooms, stainless steel appliances, and quartz countertops in the kitchens and baths.
Where is this duplex located?
The property is located at 1132/ 1134 Harold AVE 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 three‑bedroom, two‑bath residences; 1,196 SF of living area and 1,640 SF of total area per side; Built in 2024; CO issued 09/12/2024
