Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    492 Dempsey Dr Cocoa Beach, FL 32931

    Sponsored
    For Sale
    $1,390,000

    MULTI_FAMILY - Cocoa Beach, FL

    Property size:
    2,919 SF
    Lot size:
    0.26 Acres
    Days on Market:
    48
    Last Refresh:
    Feb 16 at 11:06 am

    Property Features for 492 Dempsey Dr

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Rooms
    Bathroom 4, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 4, Bathroom 3, Bedroom 2, Bedroom 5
    Bedrooms
    5
    Bathrooms
    4
    APN
    25-37-10-75-00000.0-0075.00
    Parking features
    Garage
    Pool private
    1
    Exterior features
    Dock, Impact Windows
    Fencing
    Fenced, Chain Link
    Fireplace
    1
    Appliances
    Dishwasher, Disposal, Dryer, Electric Cooktop, Electric Range, Gas Cooktop, Gas Range, Gas Water Heater, Microwave, Refrigerator, Washer
    Size
    2,919 SF
    Lot size
    0.26 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Multi Units, Electric, Varies by Unit, Separate Meters, Central Air
    Water source
    Public
    Water front features
    Seawall, River Access, Navigable Water
    Water front
    1

    Building Details

    Year built
    1957
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Tile, Laminate
    Building materials
    Block, Frame, Stucco
    Roof type
    Metal

    We can help!

    Listing Contact
    Pamela G Durkin

    Coconut Properties Florida Real Estate, Inc. (321) 305-9973

    Listing agent Pamela G Durkin (321) 613-5950

    Listing date Dec 31, 2025

    MLS# 1022812 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Cocoa Beach Multifamily Property

    This Cocoa Beach multifamily property, constructed in 2022, has been completely renovated with new plumbing, electric systems, walls, headers, beams, spray foam insulation, and impact windows and sliders. It essentially functions as two separate homes with individual electric meters, offering flexibility as a five-bedroom residence or two distinct living spaces. The downstairs unit features three bedrooms and three bathrooms, while the upstairs unit includes two bedrooms and one bathroom. The property is currently used as an Airbnb. Located just six blocks from the beach and adjacent to a riverfront park, it offers unobstructed river and island views. Its proximity to downtown Cocoa Beach provides convenient access to shopping, restaurants, stores, a library, and a post office. The property also boasts deep water access to the open river. The main home's first floor was gutted and rebuilt to code, with new beams and headers added in the living room, garage, and Florida room. The Florida room was rebuilt, and a hurricane-rated garage door was installed. The bathroom walls are insulated for sound, and the first-floor roof is insulated with Icynene foam. The HVAC system was replaced with new ductwork. The Florida room features a wood-burning fireplace and a mini-split air conditioning system. The kitchen is equipped with quartz countertops, stainless steel appliances, and cabinets. The exterior was stuccoed and painted. The upstairs apartment was remodeled in 2016, and a 600-square-foot deck was added in 2021, offering sunset views over the park, river, and islands. The apartment's HVAC and ductwork were replaced in 2023, and new stainless-steel appliances with a gas stove were installed in 2020.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Real Estate Agency Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Cocoa Beach
    County
    Brevard
    State
    Florida
    Longitude
    -80.616155
    Latitude
    28.323813

    Nearby Similar for Sale

    • $700,000
      Pending

      Cocoa Beach Triplex Investment Opportunity

      Income-producing triplex near the ocean in Cocoa Beach, Florida.
      300 S Orlando Ave, Cocoa Beach, FL 32931
      View Details
    • $799,000
      1,820 SF

      Cocoa Beach Duplex Near Ocean

      Remodeled, furnished duplex near the beach, ideal for short-term rentals.
      1299 S Orlando Ave S, Cocoa Beach, FL 32931
      View Details
    • $599,000
      1,700 SF

      Turnkey Duplex in Cocoa Beach

      Fully furnished, Airbnb-ready duplex near beach, dining, and entertainment.
      247 Woodland Ave, Cocoa Beach, FL 32931
      View Details
    • $299,000
      602 SF

      Remodeled Commercial Space Near Beach

      Remodeled commercial property in downtown Cocoa Beach, two blocks from beach.
      200 N 1St St, Cocoa Beach, FL 32931
      View Details
    • $899,999
      3,200 SF

      Mixed-Use Parcel in Cocoa Beach

      Mixed-use property in vibrant downtown Cocoa Beach with commercial and residential potential.
      118 N Atlantic Ave, Cocoa Beach, FL 32931
      View Details
    • $489,000
      1,460 SF

      Cocoa Beach Commercial Opportunity

      Premier commercial property in high-traffic Cocoa Beach location, steps from beach.
      71 N Orlando Ave, Cocoa Beach, FL 32931
      View Details
    • $3,545,000
      8,177 SF

      Cocoa Beach Boutique Rental Complex

      Turnkey, fully renovated 13-unit short-term rental complex near Cocoa Beach.
      637 S Orlando Ave, Cocoa Beach, FL 32931
      View Details
    • Contact for pricing

      Marine Business with Redevelopment Potential

      Operating marine business with real estate and redevelopment possibilities near ocean.
      342 N Orlando Ave, Cocoa Beach, FL 32931
      View Details
    • Contact for pricing

      Oceanfront Living in Cocoa Beach

      Oceanfront condo with rental potential and updated features.
      4850 Ocean Beach Blvd, Cocoa Beach, FL 32931
      View Details
    • $899,900

      Cocoa Beach Mixed-Use Investment

      Prime Beachfront Location, Multi-Use Potential
      136 Marion Ln, Cocoa Beach, FL 32931
      View Details
    • $999,999

      Cocoa Beach Commercial Gem

      Prime Retail/Mixed-Use, Ocean Block
      63 Orlando Ave, Cocoa Beach, FL 32931
      View Details
    • $55,000

      Cocoa Beach Retail Salon Business

      Established Beachfront Salon - $55,000
      0000 Confidential, Cocoa Beach, FL 32931
      View Details

    FAQs

    What type of property is this?
    Duplex - Remodeled multifamily property near the beach, suitable for various uses.
    Where is this duplex located?
    The property is located at 492 Dempsey Dr Cocoa Beach, FL.
    What is the asking price?
    The asking price for this property is $1,390,000.
    What are key features of this property?
    This property features: - Essentially two homes: Downstairs (3 bedrooms, 3 baths) and Upstairs (2 bedrooms, 1 bath) with separate electric meters, ideal for rental income, multi-generational living, or Airbnb.; - Prime location: Only 6 blocks to the beach and next door to a riverfront park with unobstructed river and island views.; - Boater's dream: Enjoy deep water access to the open river.
    (321) 431-4135
    Request Owner's contact information
    492 Dempsey Dr Cocoa Beach, FL 32931
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    492 Dempsey Dr
    Cocoa Beach, FL 32931
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    492 Dempsey Dr Cocoa Beach, FL 32931
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Pamela G Durkin
    Real Estate License ID: 678538
    (321) 431-4135 (321) 613-5950 (321) 868-7700
    Learn more
    Google sign-in failed. Please try again or use another login method.