Occupied
New
For Sale
$549,000
13 S Palmway Ave, Rockledge, FL 32955
Three tenant-occupied residences comprise a two-bedroom home, a one-bedroom apartment, and a studio.
Property Size1,845 SF
Price / SF$297.56
Days on Market3
Property Features for 13 S Palmway Ave
General Information
Standard status
Active
Size
1,845 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA, 1 x studio/1BA
Multifamily Units
3
Individually Metered Utilities
electricity
Additional Details
Gross Income
$58,740
Tenant in Place
Yes
Amenities
laundry facilities
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
Compass Florida LLC
Listed By:
Lynnette Hendricks · License #651304
(321) 877-4800
Source:
Floridaeastcoastrealestate
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 4 at 12:27PM
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 Compass Florida LLC
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Investment Insights
Based on property information with market context.
Built in 1950, this 1,845-square-foot triplex contains three occupied residences: a main home with two bedrooms and two bathrooms, a separate one-bedroom, one-bathroom apartment, and a studio with a bathroom. Recent work includes a roof replacement and central air conditioning for the main residence in 2026, electrical meter and panel upgrades and a tankless water heater in 2025, and laundry facilities added in 2025. The studio was refreshed in 2026.
The property is at 13 S Palmway Ave in Rockledge, near Cocoa Village, shopping, dining, and major roadways. All three units are leased. Showings are by appointment, and tenants should not be disturbed.
The property is at 13 S Palmway Ave in Rockledge, near Cocoa Village, shopping, dining, and major roadways. All three units are leased. Showings are by appointment, and tenants should not be disturbed.
Key Highlights
- Three occupied units: 2BR/2BA main residence, 1BR/1BA apartment, and studio with bathroom
- 1,845 square feet; built in 1950
- New roof and central A/C for the main residence in 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,011
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$420,220
$420.2K
Cap Rate 7%
$300,157
$300.2K
Cap Rate 9%
$233,456
$233.5K
Market Conditions
NOI Build-Up for 1,845 SF
Gross rent
$32.1K $17.40/SF
− Vacancy
−$2.1K −$1.13/SF
EGI
$30.0K $16.27/SF
− OpEx
−$9.0K −$4.88/SF
NOI
$21.0K $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%
$420,220
Cap Rate 7%
$300,157
Cap Rate 9%
$233,456
Alternative Uses
Best Use
Multifamily LT 5
$300.2K
$262.6K – $350.2K
NOI $21,011 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$269.8K
$236.1K – $314.8K
NOI $18,887 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$486.8K
$425.9K – $567.9K
NOI $34,073 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
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Business Placement
Demographics for 32955, FL
40,275
Population
19,281
Households
2.1
Avg Household Size
46
Median Age
38%
College-Educated
94%
High-School Grad
50.9 sq mi
ZIP Area
791
Density / Sq Mi
$85,133
Median Household Income
$43,574
Median Earnings
$1,656
Median Rent
$327,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three tenant-occupied residences comprise a two-bedroom home, a one-bedroom apartment, and a studio.
Where is this triplex located?
The property is located at 13 S Palmway Ave Rockledge, FL.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Three occupied units: 2BR/2BA main residence, 1BR/1BA apartment, and studio with bathroom; 1,845 square feet; built in 1950; New roof and central A/C for the main residence in 2026
