Renovated Coastal
For Sale
$1,175,000
Pending
1032 Park Drive #1-4, Satellite Beach, FL 32937
Four furnished-style residences offer two-bedroom layouts with kitchens, living areas, and private laundry.
Property Size3,080 SF
Days on Market240
Property Features for 1032 Park Drive #1-4
General Information
Standard status
Pending
Size
3,080 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Currently Operating
Yes
Amenities
keyless entry
balcony lounge
BBQ patio
game area
hammock niche
private laundry
outdoor shower
beach accessories
Building Details
Year Built
1964
Year Renovated
2022
Listing Agency:
Venture Inv. Prop & Mgt Corp
Listed By:
Maria-Teresa Wellman Boyd · License #3105919
(321) 271-8704
Source:
Mccoyfreeman
Added: Mar 5
Changed: Oct 31
Last Checked: Oct 29 at 2:38PM
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 Venture Inv. Prop & Mgt Corp
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Investment Insights
Based on property information with market context.
This four-unit quadplex contains 3,080 square feet and was renovated in 2022. Each residence has two bedrooms, one bathroom, a full kitchen, dining and living areas, and a coffee nook. Shared amenities include keyless entry, a balcony lounge, a BBQ patio, a game area, a hammock nook, private laundry, an outdoor shower, and beach accessories. Native landscaping and artificial turf are also part of the property.
Built in 1964, the property is located in Satellite Beach, Florida, a short distance from the Atlantic Ocean. The four residences provide consistent two-bedroom configurations, with outdoor gathering features and guest amenities incorporated across the property.
Built in 1964, the property is located in Satellite Beach, Florida, a short distance from the Atlantic Ocean. The four residences provide consistent two-bedroom configurations, with outdoor gathering features and guest amenities incorporated across the property.
Key Highlights
- Four two‑bedroom, one‑bath units
- 3,080 square feet; renovated in 2022
- Each residence includes a full kitchen, dining area, living room, and coffee nook
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,076
Cap Rate
2.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,520
$701.5K
Cap Rate 7%
$501,086
$501.1K
Cap Rate 9%
$389,733
$389.7K
Market Conditions
NOI Build-Up for 3,080 SF
Gross rent
$53.6K $17.40/SF
− Vacancy
−$3.5K −$1.13/SF
EGI
$50.1K $16.27/SF
− OpEx
−$15.0K −$4.88/SF
NOI
$35.1K $11.39/SF
Area
Brevard County, FL
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,520
Cap Rate 7%
$501,086
Cap Rate 9%
$389,733
Alternative Uses
Best Use
Multifamily LT 5
$501.1K
$438.5K – $584.6K
NOI $35,076 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$450.4K
$394.1K – $525.5K
NOI $31,529 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$812.6K
$711.0K – $948.0K
NOI $56,881 @ 7.0% cap · market cap 4.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
695
Businesses Nearby
Explore this area
Business Placement
Demographics for 32937, FL
27,306
Population
13,619
Households
2
Avg Household Size
50
Median Age
53%
College-Educated
99%
High-School Grad
6.8 sq mi
ZIP Area
4,016
Density / Sq Mi
$98,411
Median Household Income
$55,420
Median Earnings
$1,718
Median Rent
$421,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four furnished-style residences offer two-bedroom layouts with kitchens, living areas, and private laundry.
Where is this quadplex located?
The property is located at 1032 Park Drive #1-4 Satellite Beach, FL.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Four two‑bedroom, one‑bath units; 3,080 square feet; renovated in 2022; Each residence includes a full kitchen, dining area, living room, and coffee nook
