Under-Construction
For Sale
$484,000
717/719 GORDON Ave S, Lehigh Acres, FL 33973
Residential Income, Duplex, LEHIGH ACRES, FL
Property Size2,351 SF
Lot Size0.28 Acres
Price / SF$205.87
Days on Market47
Property Features for 717/719 GORDON Ave S
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
RM-2
Bedrooms
6
Rooms
Bedroom 6, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 3, Bedroom 4
Pets allowed
Yes
Subdivision
LEHIGH ACRES
Lot features
Regular, Regular
Standard status
Active
APN
33-44-26-L3-07014.0200
Size
2,351 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LEHIGH ESTATES UNIT 7 BLK.14 PB 15 PB 87 LOT 20
Tax Annual Amount
773
Legal Description
LEHIGH ESTATES UNIT 7 BLK.14 PB 15 PB 87 LOT 20
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Building Details
Year built
2026
Number of units
2
Flooring type
Laminate, Tile
Building materials
Concrete Block, Stucco
Roof type
Shingle
Architectural style
Other
Listing Agency:
Downing Frye Realty Inc.
(239) 261-2244
Listed By:
Ken Mulligan · License #NAPLES-249519147
(239) 273-9838
Added: Jul 17
Changed: Aug 24
Last Checked: Sep 1 at 2:06AM
MLS# 226026444
Copyright © 2026 Naples Area Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This under-construction duplex provides 2,351 square feet across two residences, with each side offering 3 bedrooms and 2 full bathrooms. Interior specifications include granite countertops, stainless-steel appliances, waterproof vinyl plank flooring, and tile in the bathrooms. The residences also feature 9-foot interior ceilings and 11-foot lanai ceilings, with a water softener and independent sprinkler access serving each side.
The property sits on a 0.284-acre lot at 717/719 Gordon Ave S in Lehigh Acres, Florida. It is zoned RM-2 and uses a septic tank system. Concrete block and stucco construction, a shingle roof, central air conditioning, and electric heating and cooling are specified. The surrounding West Lehigh area is near the Gateway community, with shopping centers, restaurants, and entertainment described as a short drive away.
The property sits on a 0.284-acre lot at 717/719 Gordon Ave S in Lehigh Acres, Florida. It is zoned RM-2 and uses a septic tank system. Concrete block and stucco construction, a shingle roof, central air conditioning, and electric heating and cooling are specified. The surrounding West Lehigh area is near the Gateway community, with shopping centers, restaurants, and entertainment described as a short drive away.
Key Highlights
- Two‑residence duplex totaling 2,351 square feet
- Each side includes 3 bedrooms and 2 full bathrooms
- 0.284‑acre lot at 717/719 Gordon Ave S, Lehigh Acres, FL 33973
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 separate sprinkler access.
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‑residence duplex totaling 2,351 square feet; Each side includes 3 bedrooms and 2 full bathrooms; 0.284‑acre lot at 717/719 Gordon Ave S, Lehigh Acres, FL 33973
