Building Details

Year Built 1986

Listing Agency: MUTTER REALTY

Listed By: James Mutter · License #3594768 Show Phone

Source: Livewelltampabay

Added: Aug 19 Changed: Oct 12 Last Checked: Oct 7 at 2:58PM

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Investment Insights

Based on property information with market context.

Built in 1986, this apartment property contains 10 units totaling 10,308 square feet. The unit mix includes four 3-bedroom residences and six 2-bedroom residences, with single-level layouts distributed between ground-floor and upstairs placements. Open parking serves residents and guests, while the property does not include on-site amenities.

The complex is located at 2755 Barna Ave in Titusville, near shopping and everyday conveniences. Its configuration combines multiple unit sizes with both ground-level and elevated access within one residential income property.

Key Highlights

• 10‑unit apartment property totaling 10,308 square feet
• Unit mix includes four 3‑bedroom units and six 2‑bedroom units
• Single‑level layouts with ground‑floor and upstairs units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$105,519

Cap Rate

8.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,110,380 $2.1M

Cap Rate 7%

$1,507,414 $1.5M

Cap Rate 9%

$1,172,433 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,308 SF

Gross rent

$204.1K $19.80/SF

− Vacancy

−$12.2K −$1.19/SF

EGI

$191.9K $18.61/SF

− OpEx

−$86.3K −$8.38/SF

NOI

$105.5K $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%

$2,110,380

Cap Rate 7%

$1,507,414

Cap Rate 9%

$1,172,433

Alternative Uses

Best Use

Apartment 5plus

$1.51M

$1.32M – $1.76M (±1% cap)

NOI $105,519 @ 7.0% cap · market cap 8.12%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.72M

$2.38M – $3.17M (±1% cap)

NOI $190,368 @ 7.0% cap · market cap 14.64%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Law Firm Restaurant Dental Office Building Supply Real Estate Agency Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

280

Businesses Nearby

Explore this area Business Placement

Demographics for 32780, FL

39,525

Population

19,984

Households

2

Avg Household Size

48

Median Age

27%

College-Educated

92%

High-School Grad

68.1 sq mi

ZIP Area

580

Density / Sq Mi

$64,670

Median Household Income

$39,882

Median Earnings

$1,258

Median Rent

$250,800

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Single-level residences include ground-floor and upstairs units near shopping and everyday conveniences.

Where is this apartment building located?

The property is located at 2755 Barna Ave Titusville, FL.

What is the asking price?

The asking price for this property is $1,299,900.

What are key features of this property?

This property features: 10‑unit apartment property totaling 10,308 square feet; Unit mix includes four 3‑bedroom units and six 2‑bedroom units; Single‑level layouts with ground‑floor and upstairs units