New Construction Duplex with
For Sale
$449,000
349/351 Rockland St, Lehigh Acres, FL 33972
Two modern residences combine open interiors, updated finishes, and individual one-car garages without HOA restrictions.
Property Size2,390 SF
Price / SF$187.87
Days on Market177
Property Features for 349/351 Rockland St
General Information
Standard status
Active
Size
2,390 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
1
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Realty One Group MVP
(239) 810-4698
Listed By:
Vanessa Pagan · License #258033527
Source:
Napleshomesearches
Added: Mar 8
Changed: Aug 31
Last Checked: Aug 31 at 5:45PM
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 Realty One Group MVP
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex contains 2,390 SF with two separate residences. Each unit includes three bedrooms, two bathrooms, and a one-car garage, along with an open interior arrangement, vaulted ceilings, luxury vinyl flooring, and large windows. Kitchens feature quartz countertops and stainless steel appliances, while the layouts provide bright living areas suited to everyday use. The property also sits on a spacious lot and has no HOA.
The address is in Lehigh Acres, near shopping, dining, schools, and major roadways. With two similarly configured units, the property supports rental use, owner occupancy with a second residence, or multigenerational living, as described in the property information.
The address is in Lehigh Acres, near shopping, dining, schools, and major roadways. With two similarly configured units, the property supports rental use, owner occupancy with a second residence, or multigenerational living, as described in the property information.
Key Highlights
- 2026‑built duplex with 2,390 SF
- Each unit has 3 bedrooms, 2 bathrooms, and a 1‑car garage
- Open layouts with vaulted ceilings and luxury vinyl flooring
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
$31,635
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
7.05%
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%
$632,700
$632.7K
Cap Rate 7%
$451,929
$451.9K
Cap Rate 9%
$351,500
$351.5K
Market Conditions
NOI Build-Up for 2,390 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
$47.3K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$45.2K $18.91/SF
− OpEx
−$13.6K −$5.67/SF
NOI
$31.6K $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%
$632,700
Cap Rate 7%
$451,929
Cap Rate 9%
$351,500
Alternative Uses
Best Use
Multifamily LT 5
$451.9K
$395.4K – $527.3K
NOI $31,635 @ 7.0% cap · market cap 7.05%
Second Best
Apartment 5plus
$418.8K
$366.5K – $488.6K
NOI $29,316 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$752.2K
$658.2K – $877.6K
NOI $52,656 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 33972, FL
14,727
Population
5,422
Households
2.7
Avg Household Size
37
Median Age
20%
College-Educated
87%
High-School Grad
25.3 sq mi
ZIP Area
582
Density / Sq Mi
$73,239
Median Household Income
$40,058
Median Earnings
$1,537
Median Rent
$290,300
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 modern residences combine open interiors, updated finishes, and individual one-car garages without HOA restrictions.
Where is this duplex located?
The property is located at 349/351 Rockland St Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 2026‑built duplex with 2,390 SF; Each unit has 3 bedrooms, 2 bathrooms, and a 1‑car garage; Open layouts with vaulted ceilings and luxury vinyl flooring
