Four-Unit Townhome-Style
For Sale
$725,000
1971 Agora Cir Se Unit 101, Palm Bay, FL 32909
All four residences are tenant-occupied, with three featuring renovated kitchens, baths, and flooring.
Property Size4,126 SF
Price / SF$175.71
Days on Market16
Property Features for 1971 Agora Cir Se Unit 101
General Information
Standard status
Active
Size
4,126 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Additional Details
Tenant in Place
Yes
Building Details
Year Built
1986
Listing Agency:
Waterman Real Estate, Inc.
Listed By:
Jeremy Sulzbach
(321) 987-0988
Source:
Viewfloridabeachhouses
Added: Oct 16
Changed: Oct 31
Last Checked: Oct 30 at 3:03PM
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 Waterman Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This quadplex contains four two-story, townhome-style residences, each with two bedrooms, 1.5 bathrooms, and 1,032 square feet. The building was constructed in 1986. Three units have updated flooring, renovated kitchens with granite countertops and newer cabinetry, and refreshed bathrooms; the fourth retains an opportunity for similar improvements.
All four units are currently occupied by tenants. The layout combines separate residential units within a single multifamily property.
All four units are currently occupied by tenants. The layout combines separate residential units within a single multifamily property.
Key Highlights
- Four two‑story units, each with 2 bedrooms, 1.5 bathrooms, and 1,032 SF
- Three units feature updated flooring, renovated kitchens with granite countertops and updated cabinetry, and updated 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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Property Analytics
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See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
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 four residences are tenant-occupied, with three featuring renovated kitchens, baths, and flooring.
Where is this quadplex located?
The property is located at 1971 Agora Cir Se Unit 101 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 units, each with 2 bedrooms, 1.5 bathrooms, and 1,032 SF; Three units feature updated flooring, renovated kitchens with granite countertops and updated cabinetry, and updated baths; All four units are tenant‑occupied
