Renovated Cape Canaveral
For Sale
$995,000
214 Madison Avenue, Cape Canaveral, FL 32920
Residential Income, Cape Canaveral, FL
Property Size3,582 SF
Lot Size0.30 Acres
Price / SF$277.78
Days on Market96
Property Features for 214 Madison Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 2, Bedroom 5, Bedroom 6, Bedroom 1, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 7, Bedroom 8
Parking
10
Security features
Security Lighting
Exterior features
Courtyard
Appliances
Dishwasher, Dryer, Electric Range, Electric Water Heater, Microwave, Refrigerator, Washer
Subdivision
Avon By The Sea
Elementary school
Cape View
Middle school
Cocoa Beach
High school
Cocoa Beach
Directions
From 528 heading East turn left at N. Atlantic Ave then turn Right on Madison Ave and the Quadplex will be on the left.
Standard status
Active
APN
24-37-23-Cg-00014.0-0012.00
Size
3,582 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
AVON BY THE SEA E 25 FT OF LOT 12,ALL OF LOT 13 & W 29 FT OF LOT 14 BLK 14
Tax Annual Amount
7633
Legal Description
AVON BY THE SEA E 25 FT OF LOT 12,ALL OF LOT 13 & W 29 FT OF LOT 14 BLK 14
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Amenities
parking
private outdoor space
dedicated storage
laundry areas
Building Details
Year built
1974
Floors in Building
1
Number of units
4
Flooring type
Laminate, Tile, Vinyl, Carpet
Building materials
Frame, Wood Siding
Roof type
Shingle
Listing Agency:
ITG Realty
(321) 622-2701
Listed By:
Jared Doyle
(321) 917-1808
Added: Jul 10
Changed: Oct 8
Last Checked: Oct 13 at 6:06PM
MLS# 1082533
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.
Investment Insights
Based on property information with market context.
This four-unit residential property at 214 Madison Avenue contains 3,582 square feet on a 0.3-acre lot and was built in 1974. Two residences 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. The property also includes a courtyard, private outdoor areas, dedicated storage and laundry spaces, and parking. Construction features include frame and wood siding, with central heating and central air conditioning. Public water and public sewer serve the property.
The property is in Cape Canaveral, minutes from the Atlantic Ocean, Cocoa Beach, Port Canaveral, cruise terminals, Patrick Space Force Base, and Kennedy Space Center. Its location is also near the area's aerospace corridor, supporting a setting with established residential and visitor activity. Unit features include dishwashers, electric ranges, refrigerators, microwaves, washers, and dryers.
The property is in Cape Canaveral, minutes from the Atlantic Ocean, Cocoa Beach, Port Canaveral, cruise terminals, Patrick Space Force Base, and Kennedy Space Center. Its location is also near the area's aerospace corridor, supporting a setting with established residential and visitor activity. Unit features include dishwashers, electric ranges, refrigerators, microwaves, washers, and dryers.
Key Highlights
- Four‑unit property with 3,582 square feet on 0.3 acres
- Two units renovated; two additional units are occupied
- Eight bedrooms and four bathrooms
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
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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
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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?
Quadplex - Four-unit property with two updated residences, private outdoor space, dedicated storage, laundry areas, and generous parking.
Where is this quadplex located?
The property is located at 214 Madison Avenue 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 property with 3,582 square feet on 0.3 acres; Two units renovated; two additional units are occupied; Eight bedrooms and four bathrooms
