Updated Duplex Near the
For Sale
$675,000
Pending
162 & 164 Woodland Ave, Cocoa Beach, FL 32931
Well-maintained duplex with remodeled kitchens and baths, private yards, and an air-conditioned backyard game room.
Property Size2,051 SF
Days on Market140
Property Features for 162 & 164 Woodland Ave
General Information
Standard status
Pending
Size
2,051 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1958
Listing Agency:
Century 21 Ocean
Listed By:
Barbara Schluraff · License #3633896
(321) 720-3878
Source:
Spacecoasthomefinders
Added: Apr 25
Changed: Sep 10
Last Checked: Sep 11 at 11:39AM
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 Century 21 Ocean
Investment Insights
Based on property information with market context.
This well-maintained duplex includes two separate 2-bedroom, 1-bath units. Both kitchens and bathrooms have been remodeled. Unit 162 features an open-concept kitchen and living area with granite countertops and stainless steel appliances, along with a separate dining/sitting room that offers flexibility for conversion back to a garage. The unit also includes a spacious primary suite with an office/dressing area, additional sitting space in the guest bedroom, an outdoor shower, storage areas, and private yard space. A large air-conditioned backyard game room provides additional bonus space that may support a variety of uses.
Unit 164 offers updated finishes, a covered carport, and extra storage. The property is located just blocks from the beach and downtown Cocoa Beach.
Unit 164 offers updated finishes, a covered carport, and extra storage. The property is located just blocks from the beach and downtown Cocoa Beach.
Key Highlights
- 1958‑built duplex with two 2‑bedroom, 1‑bath units (162 and 164) in well‑maintained condition
- Both kitchens and bathrooms remodeled, with granite countertops and stainless steel appliances in Unit 162
- Unit 162 includes a spacious primary suite with office/dressing area plus guest bedroom with extra sitting space
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
$23,357
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
3.46%
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%
$467,140
$467.1K
Cap Rate 7%
$333,671
$333.7K
Cap Rate 9%
$259,522
$259.5K
Market Conditions
NOI Build-Up for 2,051 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
$35.7K $17.40/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$33.4K $16.27/SF
− OpEx
−$10.0K −$4.88/SF
NOI
$23.4K $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 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%
$467,140
Cap Rate 7%
$333,671
Cap Rate 9%
$259,522
Alternative Uses
Best Use
Multifamily LT 5
$333.7K
$292.0K – $389.3K
NOI $23,357 @ 7.0% cap · market cap 3.46%
Second Best
Apartment 5plus
$299.9K
$262.4K – $349.9K
NOI $20,995 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$541.1K
$473.5K – $631.3K
NOI $37,878 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
897
Businesses Nearby
Explore this area
Business Placement
Demographics for 32931, FL
13,643
Population
10,763
Households
1.3
Avg Household Size
60
Median Age
52%
College-Educated
97%
High-School Grad
5.2 sq mi
ZIP Area
2,624
Density / Sq Mi
$84,769
Median Household Income
$51,769
Median Earnings
$1,533
Median Rent
$478,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with remodeled kitchens and baths, private yards, and an air-conditioned backyard game room.
Where is this duplex located?
The property is located at 162 & 164 Woodland Ave Cocoa Beach, FL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 1958‑built duplex with two 2‑bedroom, 1‑bath units (162 and 164) in well‑maintained condition; Both kitchens and bathrooms remodeled, with granite countertops and stainless steel appliances in Unit 162; Unit 162 includes a spacious primary suite with office/dressing area plus guest bedroom with extra sitting space
