New-Construction Duplex with
For Sale
$499,900
2440/2442 Richard Ave S, Lehigh Acres, FL 33973
Two residential units offer contemporary finishes, private garages, and efficient layouts on an oversized landscaped corner lot.
Property Size3,140 SF
Days on Market38
Property Features for 2440/2442 Richard Ave S
General Information
Standard status
Active
Size
3,140 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
RM-2
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$926
Building Details
Building Size
3,140 SF
Year Built
2026
Buildings
1
Units
2
Listing Agency:
Premiere Plus Realty Company
(239) 285-9065
Listed By:
Gio Valencia · License #249525717
(239) 285-9065
Source:
Bartleyrealty
Added: Jul 10
Changed: Aug 7
Last Checked: Aug 15 at 1:21PM
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 Premiere Plus Realty Company
Investment Insights
Based on property information with market context.
Built in 2026, this duplex contains six bedrooms and four bathrooms across two residential units. Each side includes a one-car garage, laundry area, custom closet storage, and ventilated pantry shelving. Interior finishes include 24x24 ceramic tile, recessed LED lighting, quartz countertops with waterfall edges, stainless steel appliances, wood cabinetry, and quartz bathroom vanities. Primary suites feature rainfall shower heads with handheld sprayers, while secondary bathrooms provide flexible shower configurations.
The property occupies an oversized landscaped corner lot in Lehigh Acres and carries RM-2 zoning. Exterior improvements include impact-rated doors and windows, sprinkler irrigation, rock landscaping, and full gutters and soffits. A 1-year systems and appliance warranty and 10-year structural warranty convey with the property.
The property occupies an oversized landscaped corner lot in Lehigh Acres and carries RM-2 zoning. Exterior improvements include impact-rated doors and windows, sprinkler irrigation, rock landscaping, and full gutters and soffits. A 1-year systems and appliance warranty and 10-year structural warranty convey with the property.
Key Highlights
- 2026‑built duplex with 6 bedrooms and 4 bathrooms
- Each unit includes a one‑car garage and laundry area
- 24x24 ceramic tile flooring and recessed LED lighting
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
$41,562
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
8.31%
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%
$831,240
$831.2K
Cap Rate 7%
$593,743
$593.7K
Cap Rate 9%
$461,800
$461.8K
Market Conditions
NOI Build-Up for 3,140 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
$62.2K $19.80/SF
− Vacancy
−$2.8K −$0.89/SF
EGI
$59.4K $18.91/SF
− OpEx
−$17.8K −$5.67/SF
NOI
$41.6K $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%
$831,240
Cap Rate 7%
$593,743
Cap Rate 9%
$461,800
Alternative Uses
Best Use
Multifamily LT 5
$593.7K
$519.5K – $692.7K
NOI $41,562 @ 7.0% cap · market cap 8.31%
Second Best
Apartment 5plus
$550.2K
$481.5K – $641.9K
NOI $38,516 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$988.3K
$864.8K – $1.15M
NOI $69,180 @ 7.0% cap · market cap 13.84%
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
83
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 contemporary finishes, private garages, and efficient layouts on an oversized landscaped corner lot.
Where is this duplex located?
The property is located at 2440/2442 Richard Ave S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 2026‑built duplex with 6 bedrooms and 4 bathrooms; Each unit includes a one‑car garage and laundry area; 24x24 ceramic tile flooring and recessed LED lighting
