New Construction Duplex with
For Sale
$425,000
696-698 Creuset Ave S, Lehigh Acres, FL 33974
Corner-lot duplex with open-concept interiors, modern finishes, and convenient access to State Road 82.
Property Size2,182 SF
Price / SF$194.78
Days on Market76
Property Features for 696-698 Creuset Ave S
General Information
Standard status
Active
Size
2,182 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Marzucco Real Estate
(786) 759-3405
Listed By:
Melissa Orta · License #279640626
Source:
Naplesareapropertysearch
Added: Jun 18
Changed: Aug 31
Last Checked: Aug 31 at 5:25PM
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 Marzucco Real Estate
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex contains 2,182 square feet with two independently arranged residences. Each unit offers 2 bedrooms, 2 full bathrooms, an open-concept living and dining area, a functional kitchen, and a private double-car garage. Modern finishes and abundant natural light contribute to the interior presentation, while the separate layouts provide privacy between residences.
The corner-lot property is located near State Road 82, with access to Fort Myers, I-75, RSW International Airport, shopping centers, restaurants, schools, and major commuter routes. Its Lehigh Acres setting places everyday services and regional transportation within convenient reach.
The corner-lot property is located near State Road 82, with access to Fort Myers, I-75, RSW International Airport, shopping centers, restaurants, schools, and major commuter routes. Its Lehigh Acres setting places everyday services and regional transportation within convenient reach.
Key Highlights
- Brand new 2026 construction
- 2,182‑square‑foot duplex with two residences
- Each unit includes 2 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
$23,217
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
5.46%
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%
$464,340
$464.3K
Cap Rate 7%
$331,671
$331.7K
Cap Rate 9%
$257,967
$258.0K
Market Conditions
NOI Build-Up for 2,182 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
$35.3K $16.20/SF
− Vacancy
−$2.2K −$1.00/SF
EGI
$33.2K $15.20/SF
− OpEx
−$10.0K −$4.56/SF
NOI
$23.2K $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%
$464,340
Cap Rate 7%
$331,671
Cap Rate 9%
$257,967
Alternative Uses
Best Use
Multifamily LT 5
$331.7K
$290.2K – $387.0K
NOI $23,217 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$288.5K
$252.5K – $336.6K
NOI $20,198 @ 7.0% cap · market cap 4.75%
Theoretical Best
Specialty Retail
$840.0K
$735.0K – $980.0K
NOI $58,800 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
38
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 - Corner-lot duplex with open-concept interiors, modern finishes, and convenient access to State Road 82.
Where is this duplex located?
The property is located at 696-698 Creuset Ave S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Brand new 2026 construction; 2,182‑square‑foot duplex with two residences; Each unit includes 2 bedrooms and 2 full bathrooms
