Renovated 4-Unit
For Sale
$995,000
214 Madison Ave Unit 1-4, Cape Canaveral, FL 32920
Two units feature updated interiors, while two occupied units remain available for future renovation.
Property Size3,582 SF
Price / SF$277.78
Days on Market171
Property Features for 214 Madison Ave Unit 1-4
General Information
Standard status
Active
Size
3,582 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
The remaining two occupied units provide the next owner the opportunity to renovate over time
Additional Details
Multifamily Units
4
Amenities
private outdoor space
dedicated storage and laundry areas
Building Details
Year Built
1974
Listing Agency:
ITG Realty
Listed By:
Jared Doyle
(321) 917-1808
Source:
Viewfloridabeachhouses
Added: Apr 29
Changed: Oct 1
Last Checked: Oct 16 at 9:22AM
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 ITG Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3582-square-foot quadplex contains four units and was built in 1974. Two units have been renovated with updated kitchens and bathrooms, luxury vinyl flooring, recessed LED lighting, butcher block countertops, stainless steel appliances, fresh paint, and contemporary finishes. The other two units are occupied, allowing the existing configuration to include both completed improvements and units that may be renovated later.
Property features include generous parking, private outdoor areas, dedicated storage, and laundry spaces. The building is located at 214 Madison Ave Unit 1-4 in Cape Canaveral, near the Atlantic Ocean, Cocoa Beach, Port Canaveral, cruise terminals, Patrick Space Force Base, Kennedy Space Center, and the expanding aerospace corridor. The property is positioned within the Space Coast rental market and near the area's tourism and aerospace activity.
Property features include generous parking, private outdoor areas, dedicated storage, and laundry spaces. The building is located at 214 Madison Ave Unit 1-4 in Cape Canaveral, near the Atlantic Ocean, Cocoa Beach, Port Canaveral, cruise terminals, Patrick Space Force Base, Kennedy Space Center, and the expanding aerospace corridor. The property is positioned within the Space Coast rental market and near the area's tourism and aerospace activity.
Key Highlights
- Four‑unit quadplex with 3582 square feet of building area
- Two units renovated with updated kitchens, bathrooms, flooring, lighting, and appliances
- Two occupied units remain available for future renovation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,793
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$815,860
$815.9K
Cap Rate 7%
$582,757
$582.8K
Cap Rate 9%
$453,256
$453.3K
Market Conditions
NOI Build-Up for 3,582 SF
Gross rent
$62.3K $17.40/SF
− Vacancy
−$4.1K −$1.13/SF
EGI
$58.3K $16.27/SF
− OpEx
−$17.5K −$4.88/SF
NOI
$40.8K $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 Rate 5%
$815,860
Cap Rate 7%
$582,757
Cap Rate 9%
$453,256
Alternative Uses
Best Use
Multifamily LT 5
$582.8K
$509.9K – $679.9K
NOI $40,793 @ 7.0% cap · market cap 4.10%
Second Best
Apartment 5plus
$523.8K
$458.4K – $611.1K
NOI $36,668 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$945.0K
$826.9K – $1.10M
NOI $66,152 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
709
Businesses Nearby
Explore this area
Business Placement
Demographics for 32920, FL
9,984
Population
8,872
Households
1.1
Avg Household Size
58
Median Age
39%
College-Educated
96%
High-School Grad
24.8 sq mi
ZIP Area
403
Density / Sq Mi
$70,734
Median Household Income
$41,264
Median Earnings
$1,161
Median Rent
$323,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Two units feature updated interiors, while two occupied units remain available for future renovation.
Where is this quadplex located?
The property is located at 214 Madison Ave Unit 1-4 Cape Canaveral, FL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Four‑unit quadplex with 3582 square feet of building area; Two units renovated with updated kitchens, bathrooms, flooring, lighting, and appliances; Two occupied units remain available for future renovation
