Updated Duplex with Attached
For Sale
$350,000
3003 Gilbert Ave S, Lehigh Acres, FL 33973
Two separately configured residences offer flexible occupancy, rental, or owner-user options near Lehigh Acres access routes.
Property Size2,238 SF
Price / SF$156.39
Days on Market54
Property Features for 3003 Gilbert Ave S
General Information
Standard status
Active
Size
2,238 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
50%
Units
Unit Mix
2 x 2BR/2BA + den
Multifamily Units
2
Parking per Unit
1
Additional Details
Highway Access
Yes
Building Details
Year Built
2007
Buildings
1
Tenancy
Single
Listing Agency:
Keller Williams Realty Fort Myers and the Islands
(239) 537-5366
Listed By:
Dennis Warson · License #249514775
Source:
Naplespropertyguide
Added: Jul 7
Changed: Aug 28
Last Checked: Aug 29 at 10:32AM
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 Keller Williams Realty Fort Myers and the Islands
Investment Insights
Based on property information with market context.
This 2007 duplex contains 2,238 square feet, with each side offering 1,119 square feet of air-conditioned living area. Both residences include two bedrooms, two full bathrooms, a den, and a one-car attached garage. Interior features include tile flooring throughout, high ceilings in the living rooms, walk-in closets in the primary bedrooms, and private primary bathrooms. Recent improvements include fresh interior paint, newer air-conditioning systems, a newer water treatment system, and new water heaters.
The property is positioned near Lehigh Acres with access to Fort Myers, I-75, the airport, and Southwest Florida beaches. One side is occupied by a long-term tenant, while the other is available for immediate occupancy or leasing, providing an existing rental arrangement alongside a vacant unit.
The property is positioned near Lehigh Acres with access to Fort Myers, I-75, the airport, and Southwest Florida beaches. One side is occupied by a long-term tenant, while the other is available for immediate occupancy or leasing, providing an existing rental arrangement alongside a vacant unit.
Key Highlights
- 2,238‑square‑foot duplex with 1,119 square feet per side
- Each unit includes 2 bedrooms, 2 full bathrooms, a den, and a one‑car attached garage
- One side has a long‑term tenant; the other is ready for occupancy or leasing
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
$29,623
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
8.46%
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%
$592,460
$592.5K
Cap Rate 7%
$423,186
$423.2K
Cap Rate 9%
$329,144
$329.1K
Market Conditions
NOI Build-Up for 2,238 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
$44.3K $19.80/SF
− Vacancy
−$2.0K −$0.89/SF
EGI
$42.3K $18.91/SF
− OpEx
−$12.7K −$5.67/SF
NOI
$29.6K $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%
$592,460
Cap Rate 7%
$423,186
Cap Rate 9%
$329,144
Alternative Uses
Best Use
Multifamily LT 5
$423.2K
$370.3K – $493.7K
NOI $29,623 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$392.2K
$343.2K – $457.5K
NOI $27,452 @ 7.0% cap · market cap 7.84%
Theoretical Best
Office A
$704.4K
$616.4K – $821.8K
NOI $49,308 @ 7.0% cap · market cap 14.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
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 separately configured residences offer flexible occupancy, rental, or owner-user options near Lehigh Acres access routes.
Where is this duplex located?
The property is located at 3003 Gilbert Ave S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 2,238‑square‑foot duplex with 1,119 square feet per side; Each unit includes 2 bedrooms, 2 full bathrooms, a den, and a one‑car attached garage; One side has a long‑term tenant; the other is ready for occupancy or leasing
