Duplex with Enclosed
For Sale
$380,000
Pending
116 LINCOLN AVENUE 116-118, Cape Canaveral, FL 32920
Two separately metered units offer short-term rental flexibility near the shoreline.
Property Size1,350 SF
Days on Market517
Property Features for 116 LINCOLN AVENUE 116-118
General Information
Standard status
Pending
Size
1,350 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$4,507
Building Details
Year Built
1957
Listing Agency:
FLORIDA HOMES & LOANS INC.
Listed By:
Gemma Peterson · License #3522887
(407) 242-7758
Source:
Exitrealty
Added: May 18, 2025
Changed: Oct 3
Last Checked: Oct 2 at 5:20PM
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 FLORIDA HOMES & LOANS INC.
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Investment Insights
Based on property information with market context.
This 1,350-square-foot duplex, built in 1957, includes two separately metered units connected to natural gas. The property also features an enclosed glass sunroom outside the main living area and a covered rear patio. Both spaces provide additional areas for storage, guest use, or outdoor activities, subject to the buyer’s plans.
A complete renovation is needed, including the roof, electrical system, plumbing, and interior finishes. Zoning allows short-term rentals, and the property may also be converted to a single-family residence. The address places the duplex near the sandy shoreline, beach bars, and local dining in Cape Canaveral.
A complete renovation is needed, including the roof, electrical system, plumbing, and interior finishes. Zoning allows short-term rentals, and the property may also be converted to a single-family residence. The address places the duplex near the sandy shoreline, beach bars, and local dining in Cape Canaveral.
Key Highlights
- 1,350‑square‑foot duplex built in 1957
- Two separately metered units connected to natural gas
- Zoning allows short‑term rentals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,374
Cap Rate
4.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$307,480
$307.5K
Cap Rate 7%
$219,629
$219.6K
Cap Rate 9%
$170,822
$170.8K
Market Conditions
NOI Build-Up for 1,350 SF
Gross rent
$23.5K $17.40/SF
− Vacancy
−$1.5K −$1.13/SF
EGI
$22.0K $16.27/SF
− OpEx
−$6.6K −$4.88/SF
NOI
$15.4K $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%
$307,480
Cap Rate 7%
$219,629
Cap Rate 9%
$170,822
Alternative Uses
Best Use
Multifamily LT 5
$219.6K
$192.2K – $256.2K
NOI $15,374 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$197.4K
$172.7K – $230.3K
NOI $13,819 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$356.2K
$311.7K – $415.5K
NOI $24,932 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
587
Businesses Nearby
Explore this area
Business Placement
Demographics for 32920, FL
9,984
Population
8,872
Households
1.1
Avg Household Size
58
Median Age
39%
College-Educated
96%
High-School Grad
24.8 sq mi
ZIP Area
403
Density / Sq Mi
$70,734
Median Household Income
$41,264
Median Earnings
$1,161
Median Rent
$323,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered units offer short-term rental flexibility near the shoreline.
Where is this duplex located?
The property is located at 116 LINCOLN AVENUE 116-118 Cape Canaveral, FL.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: 1,350‑square‑foot duplex built in 1957; Two separately metered units connected to natural gas; Zoning allows short‑term rentals
