Concrete Block Triplex With Private
For Sale
$859,000
335 N Brevard Ave, Cocoa Beach, FL 32931
Three well-maintained residences offer flexible rental configurations, dedicated outdoor areas, and convenient on-site parking.
Property Size2,288 SF
Price / SF$375.44
Days on Market120
Property Features for 335 N Brevard Ave
General Information
Standard status
Active
Size
2,288 SF
Property subtype
Multi-Family
Building Details
Year Built
1961
Listing Agency:
Keller Williams Realty Brevard
(321) 432-8359
Listed By:
Christine Lawhon · License #3267009
Source:
Viewfloridabeachhouses
Added: May 3
Changed: Aug 30
Last Checked: Aug 30 at 8:16AM
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 Brevard
Investment Insights
Based on property information with market context.
This concrete block triplex contains three two-bedroom, one-bath units, each with washer/dryer hookups and a private fenced patio. The property includes seven on-site parking spaces and has no HOA. One residence was renovated in 2025 with a tiled shower, vanity, mirror, lighting, toilet, fresh interior paint, hurricane impact windows, and a new A/C system installed in 2026. The kitchens feature newer appliances.
Major property improvements include a 2022 roof, updated exterior paint, and replacement of cast iron plumbing with PVC to the sewer. The property is located within a short walk of the beach, restaurants, shopping, entertainment, and nightlife. Built in 1961, the triplex offers established multifamily improvements with individually configured units and private outdoor space.
Major property improvements include a 2022 roof, updated exterior paint, and replacement of cast iron plumbing with PVC to the sewer. The property is located within a short walk of the beach, restaurants, shopping, entertainment, and nightlife. Built in 1961, the triplex offers established multifamily improvements with individually configured units and private outdoor space.
Key Highlights
- Three 2‑bedroom, 1‑bath units with washer/dryer hookups
- Seven on‑site parking spaces and no HOA
- One unit renovated in 2025 with updated bathroom finishes and interior paint
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,056
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$521,120
$521.1K
Cap Rate 7%
$372,229
$372.2K
Cap Rate 9%
$289,511
$289.5K
Market Conditions
NOI Build-Up for 2,288 SF
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.
Gross rent
$39.8K $17.40/SF
− Vacancy
−$2.6K −$1.13/SF
EGI
$37.2K $16.27/SF
− OpEx
−$11.2K −$4.88/SF
NOI
$26.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$521,120
Cap Rate 7%
$372,229
Cap Rate 9%
$289,511
Alternative Uses
Best Use
Multifamily LT 5
$372.2K
$325.7K – $434.3K
NOI $26,056 @ 7.0% cap · market cap 3.03%
Second Best
Apartment 5plus
$334.6K
$292.8K – $390.4K
NOI $23,421 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$603.6K
$528.2K – $704.3K
NOI $42,255 @ 7.0% cap · market cap 4.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
900
Businesses Nearby
Explore this area
Business Placement
Demographics for 32931, FL
13,643
Population
10,763
Households
1.3
Avg Household Size
60
Median Age
52%
College-Educated
97%
High-School Grad
5.2 sq mi
ZIP Area
2,624
Density / Sq Mi
$84,769
Median Household Income
$51,769
Median Earnings
$1,533
Median Rent
$478,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three well-maintained residences offer flexible rental configurations, dedicated outdoor areas, and convenient on-site parking.
Where is this triplex located?
The property is located at 335 N Brevard Ave Cocoa Beach, FL.
What is the asking price?
The asking price for this property is $859,000.
What are key features of this property?
This property features: Three 2‑bedroom, 1‑bath units with washer/dryer hookups; Seven on‑site parking spaces and no HOA; One unit renovated in 2025 with updated bathroom finishes and interior paint
