Newly Built
For Sale
$484,900
1520/1522 Gretchen AVE S, Lehigh Acres, FL 33973
Both residences are leased through October 1, 2026, with three bedrooms and two full baths per side.
Property Size2,400 SF
Days on Market94
Property Features for 1520/1522 Gretchen AVE S
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,535
Building Details
Building Size
2,400 SF
Year Built
2025
Buildings
1
Tenancy
Multi
Listing Agency:
Marzucco Real Estate
Listed By:
Christian Azpeitia-Gomez · License #258035647
(239) 357-5833
Source:
Kwelevate
Added: Jul 14
Changed: Oct 8
Last Checked: Oct 13 at 1:49AM
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 Marzucco Real Estate
Investment Insights
Based on property information with market context.
Located at 1520/1522 Gretchen Ave S in Lehigh Acres, this duplex was built in 2025 and contains two residences with open-concept layouts. Each unit offers three bedrooms and two full bathrooms, providing a consistent configuration across the property.
Both units are leased through October 1, 2026, providing occupancy at closing. The arrangement also supports several ownership approaches stated for the property, including leasing both residences or occupying one while retaining the other as an income-producing unit.
Both units are leased through October 1, 2026, providing occupancy at closing. The arrangement also supports several ownership approaches stated for the property, including leasing both residences or occupying one while retaining the other as an income-producing unit.
Key Highlights
- Both units leased through October 1, 2026
- Duplex built in 2025
- Each unit includes 3 bedrooms and 2 full baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,767
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,340
$635.3K
Cap Rate 7%
$453,814
$453.8K
Cap Rate 9%
$352,967
$353.0K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$47.5K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$45.4K $18.91/SF
− OpEx
−$13.6K −$5.67/SF
NOI
$31.8K $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 Rate 5%
$635,340
Cap Rate 7%
$453,814
Cap Rate 9%
$352,967
Alternative Uses
Best Use
Multifamily LT 5
$453.8K
$397.1K – $529.5K
NOI $31,767 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$420.6K
$368.0K – $490.7K
NOI $29,439 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$755.4K
$661.0K – $881.3K
NOI $52,877 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
98
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
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased through October 1, 2026, with three bedrooms and two full baths per side.
Where is this duplex located?
The property is located at 1520/1522 Gretchen AVE S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $484,900.
What are key features of this property?
This property features: Both units leased through October 1, 2026; Duplex built in 2025; Each unit includes 3 bedrooms and 2 full baths
