New Construction Duplex with
For Sale
$484,000
717/719 Gordon Ave S, Lehigh Acres, FL 33973
Two three-bedroom residences feature upgraded finishes, private water softeners, and independently accessed sprinkler systems.
Property Size2,351 SF
Price / SF$205.87
Days on Market51
Property Features for 717/719 Gordon Ave S
General Information
Standard status
Active
Size
2,351 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Sprinkler System
Yes
Amenities
granite countertops
stainless steel appliances
9-foot ceilings
11-foot ceilings on lanai
waterproof vinyl plank flooring
tile in bathrooms
water softeners
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Downing Frye Realty Inc.
(239) 273-9838
Listed By:
Ken Mulligan · License #NAPLES-249519147
Source:
Naplesareapropertysearch
Added: Jul 13
Changed: Aug 31
Last Checked: Aug 31 at 5:30PM
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 Downing Frye Realty Inc.
Investment Insights
Based on property information with market context.
This newly constructed duplex is designed with two matching residences, each offering 3 bedrooms and 2 full bathrooms. Interior finishes include granite countertops, stainless-steel appliances, waterproof vinyl plank flooring, tile bathroom floors, and 9-foot ceilings. Each side also has a lanai with 11-foot ceilings, its own water softener, and independent access to the sprinkler system. The property is identified with a 2026 build year, and a certificate of occupancy is expected by the end of July.
Located in West Lehigh near the Gateway community, the duplex is a short drive from shopping centers, restaurants, and entertainment. The two-sided layout supports separate occupancy of each residence, subject to applicable requirements.
Located in West Lehigh near the Gateway community, the duplex is a short drive from shopping centers, restaurants, and entertainment. The two-sided layout supports separate occupancy of each residence, subject to applicable requirements.
Key Highlights
- Two residences, each with 3 bedrooms and 2 full bathrooms
- 2026 build year with certificate of occupancy expected by the end of July
- 11‑foot lanai ceilings and 9‑foot interior ceilings
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
$31,119
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
6.43%
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%
$622,380
$622.4K
Cap Rate 7%
$444,557
$444.6K
Cap Rate 9%
$345,767
$345.8K
Market Conditions
NOI Build-Up for 2,351 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
$46.5K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$44.5K $18.91/SF
− OpEx
−$13.3K −$5.67/SF
NOI
$31.1K $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%
$622,380
Cap Rate 7%
$444,557
Cap Rate 9%
$345,767
Alternative Uses
Best Use
Multifamily LT 5
$444.6K
$389.0K – $518.7K
NOI $31,119 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$412.0K
$360.5K – $480.6K
NOI $28,838 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$740.0K
$647.5K – $863.3K
NOI $51,797 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
94
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 - Two three-bedroom residences feature upgraded finishes, private water softeners, and independently accessed sprinkler systems.
Where is this duplex located?
The property is located at 717/719 Gordon Ave S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $484,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 2 full bathrooms; 2026 build year with certificate of occupancy expected by the end of July; 11‑foot lanai ceilings and 9‑foot interior ceilings
