Leased Duplex with New Metal
For Sale
$389,900
3017/3019 Gilbert Ave S, Lehigh Acres, FL 33973
Each residence includes three bedrooms, two full baths, and tile flooring throughout.
Property Size1,976 SF
Price / SF$197.32
Days on Market322
Property Features for 3017/3019 Gilbert Ave S
General Information
Standard status
Active
Size
1,976 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Gross Income
$36,900
Building Details
Year Built
2004
Buildings
1
Tenancy
Multi
Listing Agency:
ERA Lahaina Realty
(239) 281-1290
Listed By:
Bev Larson · License #SL0416251
Source:
Naplesareahomesearch
Added: Oct 13, 2025
Changed: Aug 29
Last Checked: Aug 25 at 7:17AM
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 ERA Lahaina Realty
Investment Insights
Based on property information with market context.
This 1,976-square-foot duplex was built in 2004 and contains two residences, each configured with three bedrooms and two full baths. Tile flooring is installed in both units, and the property received a new metal roof in 2024.
Both sides are currently leased, and the existing leases must be honored by the buyer. The property is located at 3017/3019 Gilbert Ave S in Lehigh Acres, Florida 33973.
Both sides are currently leased, and the existing leases must be honored by the buyer. The property is located at 3017/3019 Gilbert Ave S in Lehigh Acres, Florida 33973.
Key Highlights
- Two‑unit duplex with 1,976 SF of total property size
- Each unit has 3 bedrooms and 2 full baths
- Tile flooring installed in both units
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
$26,155
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
6.71%
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%
$523,100
$523.1K
Cap Rate 7%
$373,643
$373.6K
Cap Rate 9%
$290,611
$290.6K
Market Conditions
NOI Build-Up for 1,976 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
$39.1K $19.80/SF
− Vacancy
−$1.8K −$0.89/SF
EGI
$37.4K $18.91/SF
− OpEx
−$11.2K −$5.67/SF
NOI
$26.2K $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%
$523,100
Cap Rate 7%
$373,643
Cap Rate 9%
$290,611
Alternative Uses
Best Use
Multifamily LT 5
$373.6K
$326.9K – $435.9K
NOI $26,155 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$346.3K
$303.0K – $404.0K
NOI $24,238 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$621.9K
$544.2K – $725.6K
NOI $43,535 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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 - Each residence includes three bedrooms, two full baths, and tile flooring throughout.
Where is this duplex located?
The property is located at 3017/3019 Gilbert Ave S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,976 SF of total property size; Each unit has 3 bedrooms and 2 full baths; Tile flooring installed in both units
