Remodeled Four-Unit
For Sale
$649,900
2012 Tree Ridge Lane NE, Palm Bay, FL 32905
Updated multifamily property with two vacant units ready to rent.
Property Size3,516 SF
Days on Market57
Property Features for 2012 Tree Ridge Lane NE
General Information
Standard status
Active
Size
3,516 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$8,162
Building Details
Building Size
3,516 SF
Year Built
1984
Units
4
Tenancy
Multi
Listing Agency:
LoKation
(321) 288-9703
Listed By:
Craig Micheletti
(321) 288-9703
Source:
Jedwardsfl
Added: Jul 5
Changed: Aug 29
Last Checked: Aug 30 at 5:31PM
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 LoKation
Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 3,516 square feet and was built in 1984. The building has been completely remodeled and updated, providing a refreshed physical asset for continued residential rental use.
Two units are currently vacant and ready to rent. The property’s four-unit configuration supports separate residential occupancy within a single income-producing building.
Two units are currently vacant and ready to rent. The property’s four-unit configuration supports separate residential occupancy within a single income-producing building.
Key Highlights
- Four‑unit quadplex configuration
- 3,516 square feet
- Completely remodeled and updated
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
$41,252
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
6.35%
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%
$825,040
$825.0K
Cap Rate 7%
$589,314
$589.3K
Cap Rate 9%
$458,356
$458.4K
Market Conditions
NOI Build-Up for 3,516 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
$63.7K $18.12/SF
− Vacancy
−$4.8K −$1.36/SF
EGI
$58.9K $16.76/SF
− OpEx
−$17.7K −$5.03/SF
NOI
$41.3K $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 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%
$825,040
Cap Rate 7%
$589,314
Cap Rate 9%
$458,356
Alternative Uses
Best Use
Multifamily LT 5
$589.3K
$515.7K – $687.5K
NOI $41,252 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$523.5K
$458.1K – $610.8K
NOI $36,646 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$927.6K
$811.7K – $1.08M
NOI $64,933 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
584
Businesses Nearby
Explore this area
Business Placement
Demographics for 32905, FL
26,064
Population
12,635
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
91%
High-School Grad
9.7 sq mi
ZIP Area
2,687
Density / Sq Mi
$56,671
Median Household Income
$31,688
Median Earnings
$1,361
Median Rent
$206,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated multifamily property with two vacant units ready to rent.
Where is this quadplex located?
The property is located at 2012 Tree Ridge Lane NE Palm Bay, FL.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Four‑unit quadplex configuration; 3,516 square feet; Completely remodeled and updated
