Canal-Backed New Construction
For Sale
$469,333
225/227 Ivan Ave S, Lehigh Acres, FL 33973
Two residential units offer private garages, den space, and contemporary interior finishes.
Property Size2,300 SF
Price / SF$204.06
Days on Market230
Property Features for 225/227 Ivan Ave S
General Information
Standard status
Active
Size
2,300 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
private garages
Building Details
Year Built
2026
Buildings
1
Listing Agency:
RE/MAX Realty Group
(239) 209-3490
Listed By:
Christopher Moore · License #258033286
Source:
Naplespropertyguide
Added: Jan 14
Changed: Aug 31
Last Checked: Aug 31 at 5:52PM
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 RE/MAX Realty Group
Investment Insights
Based on property information with market context.
This duplex contains 2,300 SF with two residential units, each arranged with two bedrooms plus a den. High ceilings and contemporary finishes shape the interiors, while a private garage serves each side. The property is identified as new construction with a 2026 build year and estimated completion in March 2026.
Located at 225/227 Ivan Ave S in Lehigh Acres, the property occupies a canal-backed lot with water views and added privacy from the rear setting. Its two-unit configuration supports separate occupancy within one income-producing property, with dedicated garage access for both residences.
Located at 225/227 Ivan Ave S in Lehigh Acres, the property occupies a canal-backed lot with water views and added privacy from the rear setting. Its two-unit configuration supports separate occupancy within one income-producing property, with dedicated garage access for both residences.
Key Highlights
- 2,300 SF duplex with two residential units
- Each side includes 2 bedrooms plus a den
- Private garage provided for each unit
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
$30,443
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
6.49%
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%
$608,860
$608.9K
Cap Rate 7%
$434,900
$434.9K
Cap Rate 9%
$338,256
$338.3K
Market Conditions
NOI Build-Up for 2,300 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
$45.5K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$43.5K $18.91/SF
− OpEx
−$13.0K −$5.67/SF
NOI
$30.4K $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%
$608,860
Cap Rate 7%
$434,900
Cap Rate 9%
$338,256
Alternative Uses
Best Use
Multifamily LT 5
$434.9K
$380.5K – $507.4K
NOI $30,443 @ 7.0% cap · market cap 6.49%
Second Best
Apartment 5plus
$403.0K
$352.7K – $470.2K
NOI $28,212 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$723.9K
$633.4K – $844.6K
NOI $50,674 @ 7.0% cap · market cap 10.80%
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
155
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 private garages, den space, and contemporary interior finishes.
Where is this duplex located?
The property is located at 225/227 Ivan Ave S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $469,333.
What are key features of this property?
This property features: 2,300 SF duplex with two residential units; Each side includes 2 bedrooms plus a den; Private garage provided for each unit
