4-Unit Townhome-Style
For Sale
$725,000
1971 Agora Circle SE, Palm Bay, FL 32909
Residential Income, Palm Bay, FL
Property Size4,126 SF
Lot Size0.70 Acres
Price / SF$175.71
Days on Market13
Property Features for 1971 Agora Circle SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
Multi Family
Bedrooms
8
Bathrooms
6
Full bathrooms
4
Half bathrooms
4
Rooms
Bedroom 7, Bathroom 7, Bedroom 2, Bathroom 2, Bathroom 4, Bathroom 5, Bathroom 3, Bedroom 6, Bedroom 4, Bedroom 8, Bedroom 5, Bedroom 3, Bathroom 6, Bathroom 8, Bedroom 1, Bathroom 1
Parking
8
Parking features
Parking Lot, Garage, Driveway
Fencing
Fenced
Subdivision
Port Malabar Unit 40
Lot features
Few Trees
Elementary school
Port Malabar
Middle school
Stone
High school
Palm Bay
Directions
I-95 to Malabar Rd, head east. Turn right (south) on Babcock St. Turn left on Canova St SE, right on Enterprise Ave SE, then left on Agora Cir SE. Property will be on the right at 1971 Agora Cir SE.
Standard status
Active
APN
29-37-03-26-01983.0-0011.00
Size
4,126 SF
Lot size
0.70 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PORT MALABAR UNIT 40 LOT 11 BLK 1983 PAR 11.01,11.02,11.03
Tax Annual Amount
8249
Legal Description
PORT MALABAR UNIT 40 LOT 11 BLK 1983 PAR 11.01,11.02,11.03
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Well
Building Details
Year built
1986
Floors in Building
2
Number of units
4
Building materials
Block, Concrete, Stucco
Roof type
Shingle
Listing Agency:
Waterman Real Estate, Inc.
(321) 215-2100
Listed By:
Jeremy Sulzbach
(321) 987-0988
Added: Oct 10
Changed: Oct 22
Last Checked: Oct 22 at 9:06PM
MLS# 1090674
Copyright © 2026 Space Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1986, this four-unit property contains two-story townhome-style residences, each configured with two bedrooms and 1.5 bathrooms. Three units have updated kitchens with granite countertops and cabinetry, renovated baths, and new flooring. All four residences are occupied by tenants.
The property sits on a 0.7-acre parcel and includes a parking lot, garage, and driveway. It is served by a well and septic system, with cable available.
The property sits on a 0.7-acre parcel and includes a parking lot, garage, and driveway. It is served by a well and septic system, with cable available.
Key Highlights
- Four two‑story residences, each with 2 bedrooms and 1.5 bathrooms
- Three units feature new flooring, updated kitchens with granite countertops and cabinetry, and renovated baths
- All four units are tenant‑occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,409
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$968,180
$968.2K
Cap Rate 7%
$691,557
$691.6K
Cap Rate 9%
$537,878
$537.9K
Market Conditions
NOI Build-Up for 4,126 SF
Gross rent
$74.8K $18.12/SF
− Vacancy
−$5.6K −$1.36/SF
EGI
$69.2K $16.76/SF
− OpEx
−$20.7K −$5.03/SF
NOI
$48.4K $11.73/SF
Area
Palm Bay, FL
Vacancy
7.50%
Lease Rate
$18.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$968,180
Cap Rate 7%
$691,557
Cap Rate 9%
$537,878
Alternative Uses
Best Use
Multifamily LT 5
$691.6K
$605.1K – $806.8K
NOI $48,409 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$614.3K
$537.6K – $716.7K
NOI $43,004 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$1.09M
$952.5K – $1.27M
NOI $76,199 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
662
Businesses Nearby
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Business Placement
Demographics for 32909, FL
36,789
Population
14,278
Households
2.6
Avg Household Size
42
Median Age
23%
College-Educated
92%
High-School Grad
57.7 sq mi
ZIP Area
638
Density / Sq Mi
$76,708
Median Household Income
$36,071
Median Earnings
$1,502
Median Rent
$261,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - All residences are tenant-occupied, with recent interior improvements in three units.
Where is this quadplex located?
The property is located at 1971 Agora Circle SE Palm Bay, FL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Four two‑story residences, each with 2 bedrooms and 1.5 bathrooms; Three units feature new flooring, updated kitchens with granite countertops and cabinetry, and renovated baths; All four units are tenant‑occupied
