New Construction
For Sale
$450,000
362/364 Petite Ave, Lehigh Acres, FL 33974
Two residences offer open layouts, contemporary finishes, and a low-maintenance ownership profile without an HOA.
Property Size2,476 SF
Days on Market80
Property Features for 362/364 Petite Ave
General Information
Standard status
Active
Size
2,476 SF
Property subtype
Residential Income
Zoning
RM-2
Additional Details
Road Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$499
Building Details
Building Size
2,476 SF
Year Built
2026
Units
2
Listing Agency:
KW Elevate Luxury
(239) 785-8843
Listed By:
Calli Goalder · License #258031042
(239) 785-8843
Source:
Bartleyrealty
Added: Jun 1
Changed: Aug 14
Last Checked: Aug 17 at 11:01PM
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 KW Elevate Luxury
Investment Insights
Based on property information with market context.
This duplex at 362/364 Petite Ave includes two newly constructed residences, each with three bedrooms, two full bathrooms, and an open-concept interior. Both units feature contemporary finishes, soaring ceilings, oversized tile flooring, quartz countertops, stainless steel appliances, black fixtures, spacious bedrooms, and natural-light-filled living areas. Construction was completed in 2026, and the property has no HOA.
The duplex is situated on a quiet, low-traffic street in Lehigh Acres, near shopping, dining, schools, parks, and major roadways. RM-2 zoning supports the property's multifamily classification. Both units are included in the sale, providing a two-residence configuration for an owner seeking a duplex property.
The duplex is situated on a quiet, low-traffic street in Lehigh Acres, near shopping, dining, schools, parks, and major roadways. RM-2 zoning supports the property's multifamily classification. Both units are included in the sale, providing a two-residence configuration for an owner seeking a duplex property.
Key Highlights
- Two‑unit duplex with both residences included in the sale
- Each unit includes 3 bedrooms and 2 full bathrooms
- 2026 construction with contemporary interior finishes
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
$26,345
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
5.85%
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%
$526,900
$526.9K
Cap Rate 7%
$376,357
$376.4K
Cap Rate 9%
$292,722
$292.7K
Market Conditions
NOI Build-Up for 2,476 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
$40.1K $16.20/SF
− Vacancy
−$2.5K −$1.00/SF
EGI
$37.6K $15.20/SF
− OpEx
−$11.3K −$4.56/SF
NOI
$26.3K $10.64/SF
Area
ZIP 33974
Vacancy
6.17%
Lease Rate
$16.20 /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%
$526,900
Cap Rate 7%
$376,357
Cap Rate 9%
$292,722
Alternative Uses
Best Use
Multifamily LT 5
$376.4K
$329.3K – $439.1K
NOI $26,345 @ 7.0% cap · market cap 5.85%
Second Best
Apartment 5plus
$327.4K
$286.5K – $382.0K
NOI $22,919 @ 7.0% cap · market cap 5.09%
Theoretical Best
Specialty Retail
$953.2K
$834.0K – $1.11M
NOI $66,723 @ 7.0% cap · market cap 14.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Explore this area
Business Placement
Demographics for 33974, FL
17,233
Population
5,771
Households
3
Avg Household Size
33
Median Age
16%
College-Educated
84%
High-School Grad
22.4 sq mi
ZIP Area
769
Density / Sq Mi
$65,809
Median Household Income
$33,982
Median Earnings
$1,698
Median Rent
$272,800
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 residences offer open layouts, contemporary finishes, and a low-maintenance ownership profile without an HOA.
Where is this duplex located?
The property is located at 362/364 Petite Ave Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit duplex with both residences included in the sale; Each unit includes 3 bedrooms and 2 full bathrooms; 2026 construction with contemporary interior finishes
