Duplex With Attached
For Sale
$400,000
Pending
11145 Airport Drive, Sebastian, FL 32958
Two separately configured residences offer bedroom suites, attached garages, and air-conditioned living areas.
Property Size2,484 SF
Lot Size0.50 Acres
Days on Market703
Property Features for 11145 Airport Drive
General Information
Standard status
Pending
Size
2,484 SF
Total Parking Spaces
3
Lot size
0.50 Acres
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
DIAMOND IN THE ROUGH
Units
Unit Mix
3BR/2BA, 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,886
Building Details
Year Built
1988
Buildings
1
Listing Agency:
Treasure Coast Realty LLC
(772) 388-0200
Listed By:
Erick J Velasquez · License #3381261
(772) 713-6461
Source:
Exitrealty
Added: Oct 2, 2024
Changed: Sep 2
Last Checked: Sep 2 at 9:18PM
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 Treasure Coast Realty LLC
Investment Insights
Based on property information with market context.
Built in 1988, this duplex contains 2,484 square feet under air on a half-acre parcel. The two residences have distinct layouts: one includes 3 bedrooms, 2 bathrooms, and a 2-car garage, while the other provides 2 bedrooms, 2 bathrooms, and a 1-car garage. An AC unit is also in place.
The property is located at 11145 Airport Drive in Sebastian, Florida. Its paired-unit configuration and attached garage capacity provide a defined physical setup for residential income use, subject to applicable requirements.
The property is located at 11145 Airport Drive in Sebastian, Florida. Its paired-unit configuration and attached garage capacity provide a defined physical setup for residential income use, subject to applicable requirements.
Key Highlights
- 2,484 square feet under air on a half‑acre parcel
- Two‑unit duplex configuration with separate floor plans
- One unit has 3 bedrooms, 2 bathrooms, and a 2‑car garage
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
$28,289
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
7.07%
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%
$565,780
$565.8K
Cap Rate 7%
$404,129
$404.1K
Cap Rate 9%
$314,322
$314.3K
Market Conditions
NOI Build-Up for 2,484 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
$43.2K $17.40/SF
− Vacancy
−$2.8K −$1.13/SF
EGI
$40.4K $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%
$565,780
Cap Rate 7%
$404,129
Cap Rate 9%
$314,322
Alternative Uses
Best Use
Multifamily LT 5
$404.1K
$353.6K – $471.5K
NOI $28,289 @ 7.0% cap · market cap 7.07%
Second Best
Apartment 5plus
$363.3K
$317.9K – $423.8K
NOI $25,428 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$655.4K
$573.4K – $764.6K
NOI $45,875 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Explore this area
Business Placement
Demographics for 32958, FL
28,619
Population
15,512
Households
1.8
Avg Household Size
58
Median Age
29%
College-Educated
92%
High-School Grad
27.9 sq mi
ZIP Area
1,026
Density / Sq Mi
$68,276
Median Household Income
$37,412
Median Earnings
$1,388
Median Rent
$279,100
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?
Duplex - Two separately configured residences offer bedroom suites, attached garages, and air-conditioned living areas.
Where is this duplex located?
The property is located at 11145 Airport Drive Sebastian, FL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2,484 square feet under air on a half‑acre parcel; Two‑unit duplex configuration with separate floor plans; One unit has 3 bedrooms, 2 bathrooms, and a 2‑car garage
