Fully Occupied
For Sale
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2518 Fern Palm Drive, Edgewater, FL 32141
Fully occupied 2021 duplex with two long-term tenants and separately metered utilities for each unit.
Property Size3,900 SF
Lot Size0.28 Acres
Price / SF$143.33
Days on Market14
Property Features for 2518 Fern Palm Drive
General Information
Standard status
Active
Size
3,900 SF
Total Parking Spaces
2
Lot size
0.28 Acres
Property subtype
Multifamily, Land
Occupancy
100%
Additional Details
Gross Income
$46,200
Utilities to Site
Yes
Amenities
vaulted ceilings
luxury vinyl plank flooring
granite countertops
white shaker cabinetry
stainless steel appliances
kitchen islands
interior laundry rooms
primary suites with dual vanities and walk in showers
covered rear lanais
central air conditioning
private backyards
Building Details
Year Built
2021
Buildings
1
Tenancy
Multi
Abandoned
No
Listing Agency:
Keller Williams Realty Florida Partners
(386) 631-5757
Listed By:
Mike Bretzel
Source:
Crexi
Added: Jul 22
Changed: Jul 29
Last Checked: Aug 3 at 3:41PM
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 Keller Williams Realty Florida Partners
Investment Insights
Based on property information with market context.
Built in 2021, this fully occupied duplex is designed for straightforward, turnkey rental operations. Both units are occupied by long-term tenants and each unit is separately metered for electric and water, with tenants paying their own utilities. The floor plans include 3 bedrooms and 2 bathrooms per unit, along with an oversized one-car garage, soaring vaulted ceilings, and luxury vinyl plank flooring in the main living areas.
Inside, units feature granite countertops, white shaker cabinetry, stainless steel appliances, and spacious kitchen islands, plus interior laundry rooms. Primary suites include dual vanities and walk-in showers, and each unit offers a covered rear lanai and a private backyard that overlooks a wooded setting.
The property sits on an oversized 120' x 100' lot and totals 3,900 SF. A central Edgewater location provides convenient access to shopping, dining, parks, the Indian River, public boat ramps, and beaches in New Smyrna, with access to Cape Canaveral, the Kennedy Space Center, Orlando, and Florida’s Space Coast.
Inside, units feature granite countertops, white shaker cabinetry, stainless steel appliances, and spacious kitchen islands, plus interior laundry rooms. Primary suites include dual vanities and walk-in showers, and each unit offers a covered rear lanai and a private backyard that overlooks a wooded setting.
The property sits on an oversized 120' x 100' lot and totals 3,900 SF. A central Edgewater location provides convenient access to shopping, dining, parks, the Indian River, public boat ramps, and beaches in New Smyrna, with access to Cape Canaveral, the Kennedy Space Center, Orlando, and Florida’s Space Coast.
Key Highlights
- Built in 2021 duplex with 3,900 SF total
- Fully occupied by two long‑term tenants with interest in extending leases
- Each unit has 3 bedrooms and 2 bathrooms
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.3k | $13.92 |
| − Vacancy | −$5.4k | −$1.39 |
| EGI | $48.9k | $12.53 |
| − OpEx | −$14.7k | −$3.76 |
| NOI | $34.2k | $8.77 |
3,900 SF · lease $13.92/SF/yr · vacancy 9.97% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$488.8K
$427.7K – $570.2K
NOI $34,213 @ 7.0% cap · market cap 6.12%
Second Best
Apartment 5plus
$424.5K
$371.5K – $495.3K
NOI $29,718 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,496 @ 7.0% cap · market cap 14.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
277
Businesses Nearby
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Business Placement
Demographics for 32141, FL
17,955
Population
9,400
Households
1.9
Avg Household Size
54
Median Age
23%
College-Educated
93%
High-School Grad
23.6 sq mi
ZIP Area
761
Density / Sq Mi
$61,110
Median Household Income
$37,874
Median Earnings
$1,481
Median Rent
$244,000
Median Home Value
Market
Properties on Market for Duplexes in Volusia County
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied 2021 duplex with two long-term tenants and separately metered utilities for each unit.
Where is this duplex located?
The property is located at 2518 Fern Palm Drive Edgewater, FL.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Built in 2021 duplex with 3,900 SF total; Fully occupied by two long‑term tenants with interest in extending leases; Each unit has 3 bedrooms and 2 bathrooms
