14-Unit Apartment
New
For Sale
$1,450,000
240 STONE Street, Cocoa, FL 32922
Residential Income, COCOA, FL
Property Size9,248 SF
Lot Size0.25 Acres
Price / SF$156.79
Days on Market1
Property Features for 240 STONE Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RU210
Bedrooms
28
Bathrooms
14
Full bathrooms
14
Rooms
Bathroom 13, Bathroom 2, Bedroom 4, Bedroom 17, Bedroom 16, Bedroom 6, Bathroom 6, Bedroom 9, Bedroom 3, Bedroom 20, Bedroom 23, Bathroom 4, Bedroom 15, Bathroom 12, Bedroom 28, Bedroom 18, Bathroom 1, Bedroom 26, Bathroom 9, Bathroom 5, Bedroom 12, Bedroom 25, Bedroom 10, Bedroom 21, Bedroom 11, Bedroom 7, Bedroom 1, Bedroom 5, Bedroom 2, Bedroom 19, Bathroom 7, Bedroom 8, Bathroom 14, Bedroom 24, Bedroom 22, Bathroom 3, Bathroom 8, Bedroom 14, Bathroom 10, Bedroom 27, Bedroom 13, Bathroom 11
Subdivision
LAPHAMS SUB
Directions
Cocoa, FL 32922
Standard status
Active
APN
24 3633-31-B-3
Size
9,248 SF
Lot size
0.25 Acres
Additional Details
Individually Metered Utilities
water, electric
Taxes and HOA fees
Tax Year
2026
Tax Description
LAPHAMS SUBD LOT 3 BLK B
Tax Annual Amount
20420
Legal Description
LAPHAMS SUBD LOT 3 BLK B
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Amenities
window A/C
heat
Building Details
Year built
1962
Number of units
14
Building materials
Concrete
Roof type
Membrane
Listing Agency:
FLORIDA REALTY INVESTMENTS
(407) 207-2220
Listed By:
Tito Urbano Perez · License #3470017
(407) 907-0350
Added: Nov 5
Last Checked: Nov 5 at 10:06PM
MLS# TB8565155
Copyright © 2026 Stellar MLS. 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.
This 14-unit apartment property contains 9,248 square feet across a 0.25-acre parcel. Each apartment is configured with two bedrooms and one bathroom. Concrete-block construction dates to 1962, with window air-conditioning and electric heat. Water and electricity are separately metered, and tenants pay those utility costs.
The property is served by public water and public sewer and is zoned RU210.
The property is served by public water and public sewer and is zoned RU210.
Key Highlights
- 14 apartments, each with 2 bedrooms and 1 bathroom
- 9,248 square feet on a 0.25‑acre parcel
- Separate water and electric meters; tenants pay both utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,668
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,893,360
$1.9M
Cap Rate 7%
$1,352,400
$1.4M
Cap Rate 9%
$1,051,867
$1.1M
Market Conditions
NOI Build-Up for 9,248 SF
Gross rent
$183.1K $19.80/SF
− Vacancy
−$11.0K −$1.19/SF
EGI
$172.1K $18.61/SF
− OpEx
−$77.5K −$8.38/SF
NOI
$94.7K $10.24/SF
Area
Brevard County, FL
Vacancy
6.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,893,360
Cap Rate 7%
$1,352,400
Cap Rate 9%
$1,051,867
Alternative Uses
Best Use
Apartment 5plus
$1.35M
$1.18M – $1.58M
NOI $94,668 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.44M
$2.13M – $2.85M
NOI $170,792 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
14
Residential units
Location Intelligence
Trade Area within ½ mile
1,339
Businesses Nearby
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Business Placement
Demographics for 32922, FL
15,923
Population
8,667
Households
1.8
Avg Household Size
40
Median Age
19%
College-Educated
89%
High-School Grad
5.4 sq mi
ZIP Area
2,949
Density / Sq Mi
$46,138
Median Household Income
$35,125
Median Earnings
$1,057
Median Rent
$176,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Each residence offers a two-bedroom, one-bathroom layout with separately metered water and electric service.
Where is this apartment building located?
The property is located at 240 STONE Street Cocoa, FL.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 14 apartments, each with 2 bedrooms and 1 bathroom; 9,248 square feet on a 0.25‑acre parcel; Separate water and electric meters; tenants pay both utilities
