Furnished Quadplex Across From
For Sale
$825,000
105 NE 3rd Street, Satellite Beach, FL 32937
Residential Income, Satellite Beach, FL
Property Size2,489 SF
Lot Size0.15 Acres
Price / SF$331.46
Days on Market102
Property Features for 105 NE 3rd Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
Commercial/Residential/Office
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 5, Bathroom 3, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 4
Parking
6
Parking features
Guest, Off Street, Parking Lot
Security features
Security Lighting
Exterior features
Courtyard
Appliances
Dishwasher, Dryer, Electric Oven, Electric Range, Electric Water Heater, Microwave, Refrigerator, Washer
Subdivision
SOUTH PATRICK SHORES 3RD SEC
Lot features
Few Trees
Elementary school
Sea Park
Middle school
DeLaura
High school
Satellite
Directions
Hwy A1a to West on NE 3rd Street. Second building on the right across from the church. NE 3rd Street is Right South of Pineda Causeway. Convenient to beach parks & public ocean access, shopping, restaurants, entertainment & causeway leading to mainland. Less than 5 miles to Cocoa Beach, 20 miles to Space Center, 10 miles to Brevard Zoo, 45 Miles to Orlando airport, 7 miles to Melbourne airport
Standard status
Active
APN
26-37-23-26-00013.0-0001.01
Size
2,489 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SOUTH PATRICK SHORES 2ND SEC W 80 FT OF LOT 1 BLK 13 EX CSWY R/W
Tax Annual Amount
9721
Legal Description
SOUTH PATRICK SHORES 2ND SEC W 80 FT OF LOT 1 BLK 13 EX CSWY R/W
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Amenities
courtyards
Building Details
Year built
1957
Floors in Building
1
Number of units
4
Flooring type
Tile, Laminate
Building materials
Block
Roof type
Metal
Listing Agency:
RE/MAX Elite · RE/MAX International
(321) 752-5858
Listed By:
Todd Ostrander · License #3199854
(321) 749-8405
Added: Jun 24
Changed: Sep 29
Last Checked: Oct 3 at 12:06AM
MLS# 1080844
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 2,489-square-foot quadplex contains four furnished units in a block-built property dating to 1957. Plumbing and electrical systems have been updated, and the interiors feature tile and laminate flooring along with kitchens equipped with refrigerators, ranges, microwaves, dishwashers, washers, and dryers. A metal roof, public water, and public sewer serve the property.
Set on 0.15 acres in Satellite Beach, the property is directly opposite the beach and near beach parks, public ocean access, shopping, restaurants, and entertainment. Front and rear courtyards provide shared outdoor areas, while guest, lot, and off-street parking support the multi-unit layout.
The property is currently operated as a professionally managed short-term rental, with provisions added for short-term rental qualifications. The four units may also accommodate long-term rental use or extended-family living, subject to applicable requirements.
Set on 0.15 acres in Satellite Beach, the property is directly opposite the beach and near beach parks, public ocean access, shopping, restaurants, and entertainment. Front and rear courtyards provide shared outdoor areas, while guest, lot, and off-street parking support the multi-unit layout.
The property is currently operated as a professionally managed short-term rental, with provisions added for short-term rental qualifications. The four units may also accommodate long-term rental use or extended-family living, subject to applicable requirements.
Key Highlights
- Four‑unit quadplex with 2,489 square feet of building area
- Each unit is furnished and equipped for rental operations
- Updated plumbing and electrical systems
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
$28,345
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
3.44%
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%
$566,900
$566.9K
Cap Rate 7%
$404,929
$404.9K
Cap Rate 9%
$314,944
$314.9K
Market Conditions
NOI Build-Up for 2,489 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
$43.3K $17.40/SF
− Vacancy
−$2.8K −$1.13/SF
EGI
$40.5K $16.27/SF
− OpEx
−$12.1K −$4.88/SF
NOI
$28.3K $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 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%
$566,900
Cap Rate 7%
$404,929
Cap Rate 9%
$314,944
Alternative Uses
Best Use
Multifamily LT 5
$404.9K
$354.3K – $472.4K
NOI $28,345 @ 7.0% cap · market cap 3.44%
Second Best
Apartment 5plus
$364.0K
$318.5K – $424.7K
NOI $25,479 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$656.7K
$574.6K – $766.1K
NOI $45,967 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
228
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four furnished units offer flexible short-term or long-term rental use with shared courtyards and on-site parking.
Where is this quadplex located?
The property is located at 105 NE 3rd Street Satellite Beach, FL.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Four‑unit quadplex with 2,489 square feet of building area; Each unit is furnished and equipped for rental operations; Updated plumbing and electrical systems
