Concrete Block
For Sale
$349,000
420/422 ROCK PIT, Titusville, FL 32796
Four individually metered units with central air create a manageable multifamily configuration near local shopping and coastal destinations.
Property Size2,796 SF
Price / SF$124.82
Days on Market9
Property Features for 420/422 ROCK PIT
General Information
Standard status
Active
Size
2,796 SF
Property subtype
Investment
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA, 1 x 1BR/1BA, 1 x Efficiency
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,359
Amenities
central air
Building Details
Building Size
2,796 SF
Year Built
1955
Buildings
1
Construction
concrete block
Listing Agency:
Orlando Central Realty LLC DBA Keller Williams Realty at the Parks
(407) 205-8858
Listed By:
Marc George
(407) 205-8858
Source:
Elliman
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 28 at 5:08PM
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 Orlando Central Realty LLC DBA Keller Williams Realty at the Parks
Investment Insights
Based on property information with market context.
This concrete block quadplex at 420/422 Rock Pit Road contains four distinct residences totaling 2,796 square feet of heated living space. The unit mix includes a 3-bedroom/2-bathroom apartment, a 2-bedroom/1-bathroom apartment, a 1-bedroom/1-bathroom apartment, and an efficiency. Built in 1955, the property has central air and individual metering for each unit.
The property occupies nearly half an acre in Titusville, within minutes of South Park Plaza and Parkway Plaza. Merritt Island National Wildlife Refuge and Canaveral National Seashore are also within easy reach. The surrounding area records a BikeScore of 51 and a WalkScore of 30, characterized as car-dependent.
The property occupies nearly half an acre in Titusville, within minutes of South Park Plaza and Parkway Plaza. Merritt Island National Wildlife Refuge and Canaveral National Seashore are also within easy reach. The surrounding area records a BikeScore of 51 and a WalkScore of 30, characterized as car-dependent.
Key Highlights
- Four‑unit property on nearly half an acre
- 2,796 square feet of heated living space
- Unit mix includes 3‑bedroom/2‑bathroom, 2‑bedroom/1‑bathroom, 1‑bedroom/1‑bathroom, and efficiency units
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
$31,842
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
9.12%
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%
$636,840
$636.8K
Cap Rate 7%
$454,886
$454.9K
Cap Rate 9%
$353,800
$353.8K
Market Conditions
NOI Build-Up for 2,796 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
$48.7K $17.40/SF
− Vacancy
−$3.2K −$1.13/SF
EGI
$45.5K $16.27/SF
− OpEx
−$13.6K −$4.88/SF
NOI
$31.8K $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 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%
$636,840
Cap Rate 7%
$454,886
Cap Rate 9%
$353,800
Alternative Uses
Best Use
Multifamily LT 5
$454.9K
$398.0K – $530.7K
NOI $31,842 @ 7.0% cap · market cap 9.12%
Second Best
Apartment 5plus
$408.9K
$357.8K – $477.0K
NOI $28,622 @ 7.0% cap · market cap 8.20%
Theoretical Best
Office A
$737.7K
$645.5K – $860.6K
NOI $51,637 @ 7.0% cap · market cap 14.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
589
Businesses Nearby
Explore this area
Business Placement
Demographics for 32796, FL
20,818
Population
9,670
Households
2.2
Avg Household Size
50
Median Age
28%
College-Educated
90%
High-School Grad
14.4 sq mi
ZIP Area
1,446
Density / Sq Mi
$67,399
Median Household Income
$40,368
Median Earnings
$1,305
Median Rent
$243,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four individually metered units with central air create a manageable multifamily configuration near local shopping and coastal destinations.
Where is this quadplex located?
The property is located at 420/422 ROCK PIT Titusville, FL.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Four‑unit property on nearly half an acre; 2,796 square feet of heated living space; Unit mix includes 3‑bedroom/2‑bathroom, 2‑bedroom/1‑bathroom, 1‑bedroom/1‑bathroom, and efficiency units
