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    New Duplex in Lehigh Acres Title is generated by Realmo AI

    724/726 GRETCHEN Ave S, Lehigh Acres, FL 33973

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    For Sale
    $472,000

    MULTI_FAMILY - Other - LEHIGH ACRES, FL

    Type:Duplex
    Property size:
    2,351 SF
    Lot size:
    0.28 Acres
    Price / SF:
    $200/SF
    Added:
    Apr 27, 2026
    Days on Market:
    18
    Last Refresh:
    May 14 at 5:06 pm

    Property Features for 724/726 GRETCHEN Ave S

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Property condition
    Under Construction
    Zoning
    RM-2
    Bedrooms
    6
    Rooms
    Bedroom 5, Bedroom 6, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 1
    Pets allowed
    Yes
    Standard status
    Active
    APN
    33-44-26-L3-07015.0070
    Size
    2,351 SF
    Lot size
    0.28 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    773

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Electric (Heating), Central
    Cooling system
    Electric, Central Air

    Building Details

    Year built
    2025
    Number of units
    2
    Flooring type
    Laminate, Tile
    Building materials
    Concrete Block, Stucco
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Ken Mulligan

    Listing agent Ken Mulligan License #NAPLES-249519147

    Listing office Downing Frye Realty Inc. 8950 Fontana del Sol Way #100, Naples, FL

    Listing date Apr 27, 2026

    MLS# 226017692 Listing URL

    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.

    Overview

    This newly constructed duplex, with an expected certificate of occupancy by mid-May 2026, presents an opportunity for either owner-occupancy with rental income or full rental potential. Each side features 3 bedrooms and 2 full bathrooms. Interior finishes include granite countertops, stainless-steel appliances, and 9-foot ceilings, complemented by 11-foot ceilings on the lanai. Upgraded waterproof vinyl plank flooring extends throughout each unit, with tile in the bathrooms. Each side is equipped with a new washer, dryer, and water softener. A sprinkler system is installed with independent access for each side. Situated in West Lehigh, the property is near the Gateway community, with shopping centers, restaurants, and entertainment options within a short drive. The property is located on a 0.284-acre lot. The total property size is 2351 square feet. Zoning is RM-2. Please note that the provided photos represent a similar duplex of the same plan but not the actual duplex for this address.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lehigh Acres
    County
    Lee
    State
    Florida
    Longitude
    -81.714696
    Latitude
    26.604572

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    FAQs

    What type of property is this?
    Duplex - New construction duplex with income potential near Gateway community.
    Where is this duplex located?
    The property is located at 724/726 GRETCHEN Ave S Lehigh Acres, FL.
    What is the asking price?
    The asking price for this property is $472,000.
    (239) 273-9838
    We can help!
    Listing Contact
    Ken Mulligan
    Real Estate License ID: NAPLES-249519147
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    724/726 GRETCHEN Ave S, LEHIGH ACRES, FL 33973
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