Three-Unit Multifamily
For Sale
$699,900
1523 Furnari St, Cocoa, FL 32922
Three residences offer consistent three-bedroom, two-bathroom layouts within a 2006-built income property.
Property Size4,130 SF
Price / SF$169.47
Days on Market258
Property Features for 1523 Furnari St
General Information
Standard status
Active
Size
4,130 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 3BR/2BA
Multifamily Units
3
Additional Details
Average Monthly Rent
$2,200
Building Details
Year Built
2006
Buildings
1
Listing Agency:
Bryan's R.E.& Int'l Consulting
(321) 305-3162
Listed By:
Paul Bryan · License #3259840
Source:
Viewfloridabeachhouses
Added: Dec 15, 2025
Changed: Aug 29
Last Checked: Aug 29 at 2:39PM
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 Bryan's R.E.& Int'l Consulting
Investment Insights
Based on property information with market context.
Built in 2006, this triplex contains 4,130 square feet of base area across three residential units. Each residence is configured with three bedrooms and two bathrooms, providing a consistent layout throughout the property.
Two units are occupied by long-term tenants, with reported tenancies of 14 years and 3 years. The property is located at 1523 Furnari St in Cocoa, Florida. The seller is also offering two additional duplexes, with package-sale terms subject to negotiation.
Two units are occupied by long-term tenants, with reported tenancies of 14 years and 3 years. The property is located at 1523 Furnari St in Cocoa, Florida. The seller is also offering two additional duplexes, with package-sale terms subject to negotiation.
Key Highlights
- Three‑unit triplex with 4,130 square feet of base area
- Built in 2006
- Each unit includes 3 bedrooms and 2 bathrooms
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
$47,034
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
6.72%
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%
$940,680
$940.7K
Cap Rate 7%
$671,914
$671.9K
Cap Rate 9%
$522,600
$522.6K
Market Conditions
NOI Build-Up for 4,130 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
$71.9K $17.40/SF
− Vacancy
−$4.7K −$1.13/SF
EGI
$67.2K $16.27/SF
− OpEx
−$20.2K −$4.88/SF
NOI
$47.0K $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 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%
$940,680
Cap Rate 7%
$671,914
Cap Rate 9%
$522,600
Alternative Uses
Best Use
Multifamily LT 5
$671.9K
$587.9K – $783.9K
NOI $47,034 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$604.0K
$528.5K – $704.6K
NOI $42,277 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$1.09M
$953.4K – $1.27M
NOI $76,273 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
505
Businesses Nearby
Explore this area
Business Placement
Demographics for 32922, FL
15,923
Population
8,667
Households
1.8
Avg Household Size
40
Median Age
19%
College-Educated
89%
High-School Grad
5.4 sq mi
ZIP Area
2,949
Density / Sq Mi
$46,138
Median Household Income
$35,125
Median Earnings
$1,057
Median Rent
$176,100
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?
Triplex - Three residences offer consistent three-bedroom, two-bathroom layouts within a 2006-built income property.
Where is this triplex located?
The property is located at 1523 Furnari St Cocoa, FL.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Three‑unit triplex with 4,130 square feet of base area; Built in 2006; Each unit includes 3 bedrooms and 2 bathrooms
