New Construction
For Sale
$450,000
Pending
362/364 Petite Ave, Lehigh Acres, FL 33974
Two residential units feature open layouts, contemporary finishes, and a move-in-ready presentation.
Property Size2,476 SF
Days on Market103
Property Features for 362/364 Petite Ave
General Information
Standard status
Pending
Size
2,476 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2026
Listing Agency:
KW Elevate Luxury
(239) 785-8843
Listed By:
Calli Goalder · License #258031042
Source:
Naplesareapropertysearch
Added: May 21
Changed: Aug 31
Last Checked: Aug 31 at 5:44PM
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.
Built in 2026, this duplex includes two residences with three bedrooms and two full bathrooms per unit. The interiors are arranged around open living areas and feature high ceilings, large-format tile, quartz countertops, stainless steel appliances, dark hardware, spacious bedrooms, and contemporary bathroom finishes. Natural light contributes to the bright interior presentation.
The property is located at 362/364 Petite Ave in Lehigh Acres, FL 33974, on a quiet, low-traffic street. Shopping, dining, schools, parks, and major roadways are identified nearby, while the setting remains residential. Both units are included, and the layout supports occupying one residence while renting the other, renting both, or pursuing short-term rental use. The property has no HOA.
The property is located at 362/364 Petite Ave in Lehigh Acres, FL 33974, on a quiet, low-traffic street. Shopping, dining, schools, parks, and major roadways are identified nearby, while the setting remains residential. Both units are included, and the layout supports occupying one residence while renting the other, renting both, or pursuing short-term rental use. The property has no HOA.
Key Highlights
- Two‑unit duplex at 362/364 Petite Ave, Lehigh Acres, FL 33974
- Built in 2026 with both residences included
- Each unit has 3 bedrooms and 2 full bathrooms
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
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 residential units feature open layouts, contemporary finishes, and a move-in-ready presentation.
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 at 362/364 Petite Ave, Lehigh Acres, FL 33974; Built in 2026 with both residences included; Each unit has 3 bedrooms and 2 full bathrooms
