Remodeled
For Sale
$649,900
2012 Tree Ridge Lane NE, Palm Bay, FL 32905
MULTI_FAMILY - Palm Bay, FL
Property Size3,516 SF
Lot Size0.43 Acres
Price / SF$184.84
Days on Market56
Property Features for 2012 Tree Ridge Lane NE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 6, Bedroom 5, Bedroom 1, Bedroom 8, Bedroom 2, Bedroom 4, Bedroom 7, Bathroom 1, Bedroom 3
Subdivision
Pinehurst Gardens
Middle school
Stone
High school
Palm Bay
Directions
turn right onto Dawn St, turn left onto Forest Knoll, turn left onto Tree Ridge, house on right side
Standard status
Active
APN
28-37-28-01-0000a.0-0007.00
Size
3,516 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PINEHURST LOT 7 BLK A
Tax Annual Amount
8162
Legal Description
PINEHURST LOT 7 BLK A
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1984
Floors in Building
2
Number of units
4
Building materials
Frame, Stucco
Listing Agency:
LoKation
(954) 545-5583
Listed By:
Craig Micheletti
(321) 288-9703
Added: Jul 5
Changed: Aug 2
Last Checked: Aug 29 at 3:06PM
MLS# 1081730
Copyright © 2026 Space Coast Association 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 remodeled quadplex on Tree Ridge Lane in Palm Bay offers a residential income setup with frame and stucco construction. The property was remodeled and updated, and it currently has two units vacant and ready to rent. Inside, the room count includes eight bedrooms and one bathroom.
Built in 1984, the home features central electric heating and central air conditioning. Public water and public sewer are available, and cable is available for communications.
Set on a 0.43-acre lot with a total property size of 3,516 square feet, this quadplex is designed for straightforward rental operations with in-place utilities and central HVAC throughout.
Built in 1984, the home features central electric heating and central air conditioning. Public water and public sewer are available, and cable is available for communications.
Set on a 0.43-acre lot with a total property size of 3,516 square feet, this quadplex is designed for straightforward rental operations with in-place utilities and central HVAC throughout.
Key Highlights
- Remodeled and updated quadplex with two units currently vacant and ready to rent
- 0.43‑acre lot with 3,516 SF total building size
- Built in 1984 with frame and stucco construction
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
$41,252
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
6.35%
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%
$825,040
$825.0K
Cap Rate 7%
$589,314
$589.3K
Cap Rate 9%
$458,356
$458.4K
Market Conditions
NOI Build-Up for 3,516 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
$63.7K $18.12/SF
− Vacancy
−$4.8K −$1.36/SF
EGI
$58.9K $16.76/SF
− OpEx
−$17.7K −$5.03/SF
NOI
$41.3K $11.73/SF
Area
Palm Bay, FL
Vacancy
7.50%
Lease Rate
$18.12 /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%
$825,040
Cap Rate 7%
$589,314
Cap Rate 9%
$458,356
Alternative Uses
Best Use
Multifamily LT 5
$589.3K
$515.7K – $687.5K
NOI $41,252 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$523.5K
$458.1K – $610.8K
NOI $36,646 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$927.6K
$811.7K – $1.08M
NOI $64,933 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
584
Businesses Nearby
Explore this area
Business Placement
Demographics for 32905, FL
26,064
Population
12,635
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
91%
High-School Grad
9.7 sq mi
ZIP Area
2,687
Density / Sq Mi
$56,671
Median Household Income
$31,688
Median Earnings
$1,361
Median Rent
$206,200
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?
Quadplex - Remodeled quadplex built in 1984 with central electric HVAC and public water and sewer services.
Where is this quadplex located?
The property is located at 2012 Tree Ridge Lane NE Palm Bay, FL.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Remodeled and updated quadplex with two units currently vacant and ready to rent; 0.43‑acre lot with 3,516 SF total building size; Built in 1984 with frame and stucco construction
