Duplex with Private
For Sale
$523,000
738 Gretchen Ave S, Lehigh Acres, FL 33973
Tenant-occupied property features open-concept units with flexible den space and granite-finished kitchens.
Property Size2,400 SF
Price / SF$217.92
Days on Market230
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Property Features for 738 Gretchen Ave S
General Information
Standard status
Active
Size
2,400 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
2020
Buildings
1
Listing Agency:
North and Vrillaud Realty Group
Listed By:
Adriana Vrillaud · License #279619883
(786) 863-2550
Source:
Naplesareahomesearch
Added: Feb 27
Changed: Oct 1
Last Checked: Oct 14 at 11:24PM
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 North and Vrillaud Realty Group
Investment Insights
Based on property information with market context.
Built in 2020, this duplex contains 2,400 square feet across two residential units. Each side offers 2 bedrooms, a flexible den, 2 full bathrooms, and an open-concept living arrangement. Interior details include tile flooring throughout, granite countertops, generous kitchen cabinetry, and bright living areas. Each unit also has a private 1-car garage.
The property is currently tenant-occupied and is positioned near schools, shopping, dining, parks, and major roadways. Its Lehigh Acres location provides access to Fort Myers and other destinations throughout Southwest Florida. The address is 738 Gretchen Ave S, Lehigh Acres, FL 33973.
The property is currently tenant-occupied and is positioned near schools, shopping, dining, parks, and major roadways. Its Lehigh Acres location provides access to Fort Myers and other destinations throughout Southwest Florida. The address is 738 Gretchen Ave S, Lehigh Acres, FL 33973.
Key Highlights
- 2,400 SF duplex built in 2020
- Each unit includes 2 bedrooms, a flexible den, and 2 full bathrooms
- Private 1‑car garage assigned to each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,767
Cap Rate
6.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,340
$635.3K
Cap Rate 7%
$453,814
$453.8K
Cap Rate 9%
$352,967
$353.0K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$47.5K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$45.4K $18.91/SF
− OpEx
−$13.6K −$5.67/SF
NOI
$31.8K $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 Rate 5%
$635,340
Cap Rate 7%
$453,814
Cap Rate 9%
$352,967
Alternative Uses
Best Use
Multifamily LT 5
$453.8K
$397.1K – $529.5K
NOI $31,767 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$420.6K
$368.0K – $490.7K
NOI $29,439 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$755.4K
$661.0K – $881.3K
NOI $52,877 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied property features open-concept units with flexible den space and granite-finished kitchens.
Where is this duplex located?
The property is located at 738 Gretchen Ave S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $523,000.
What are key features of this property?
This property features: 2,400 SF duplex built in 2020; Each unit includes 2 bedrooms, a flexible den, and 2 full bathrooms; Private 1‑car garage assigned to each unit
