Furnished Beachside
For Sale
$995,000
105 Ne 3rd St, Satellite Beach, FL 32937
Four furnished units offer updated accommodations with short-term and long-term rental flexibility near public ocean access.
Property Size2,489 SF
Price / SF$399.76
Days on Market83
Property Features for 105 Ne 3rd St
General Information
Standard status
Active
Size
2,489 SF
Property subtype
Multi-Family
Building Details
Year Built
1957
Listing Agency:
RE/MAX Elite
(321) 749-8405
Listed By:
Todd Ostrander · License #3199854
Source:
Greaterorlandohomesforsale
Added: Jun 9
Changed: Aug 29
Last Checked: Aug 29 at 7:46PM
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 RE/MAX Elite
Investment Insights
Based on property information with market context.
The Sandpiper is a 2,489-square-foot quadplex built in 1957, with four updated and upgraded units offered fully furnished. Plumbing and electrical systems have been updated, and provisions were added for short-term rental qualifications. The property includes front and rear courtyards along with ample on-site parking.
Positioned across the street from the beach in Satellite Beach, the property is convenient to beach parks, public ocean access, shopping, restaurants, and entertainment. Pineda Causeway provides a connection to the mainland. The existing setup supports short-term rental operations, while the four-unit configuration can also accommodate long-term rentals or extended-family use.
Positioned across the street from the beach in Satellite Beach, the property is convenient to beach parks, public ocean access, shopping, restaurants, and entertainment. Pineda Causeway provides a connection to the mainland. The existing setup supports short-term rental operations, while the four-unit configuration can also accommodate long-term rentals or extended-family use.
Key Highlights
- 2,489‑square‑foot quadplex with four fully furnished units
- Built in 1957 with updated plumbing and electrical systems
- Provisions added for short‑term rental qualifications
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
2.85%
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 2.85%
Second Best
Apartment 5plus
$364.0K
$318.5K – $424.7K
NOI $25,479 @ 7.0% cap · market cap 2.56%
Theoretical Best
Office A
$656.7K
$574.6K – $766.1K
NOI $45,967 @ 7.0% cap · market cap 4.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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 updated accommodations with short-term and long-term rental flexibility near public ocean access.
Where is this quadplex located?
The property is located at 105 Ne 3rd St Satellite Beach, FL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 2,489‑square‑foot quadplex with four fully furnished units; Built in 1957 with updated plumbing and electrical systems; Provisions added for short‑term rental qualifications
