Six-Unit Apartment
For Sale
$995,000
7522 Magnolia Avenue, Cape Canaveral, FL 32920
Residential Income, Cape Canaveral, FL
Property Size3,872 SF
Lot Size0.14 Acres
Price / SF$256.97
Days on Market131
Property Features for 7522 Magnolia Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
12
Rooms
Bedroom 9, Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 12, Bedroom 4, Bedroom 10, Bedroom 6, Bedroom 7, Bedroom 8, Bedroom 1, Bedroom 11
Parking features
Assigned, Parking Lot
Exterior features
Balcony
Appliances
Electric Range, Electric Water Heater, Refrigerator
Subdivision
Avon By The Sea
Elementary school
Cape View
Middle school
Cocoa Beach
High school
Cocoa Beach
Directions
From A1A head north then turn right onto Taylor Ave. Then take a left onto Magnolia Ave. and the complex will be on right hand.
Standard status
Active
APN
24-37-23-Cg-00044.0-0008.00
Size
3,872 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
AVON BY THE SEA LOT 8 BLK 44
Tax Annual Amount
8452
Legal Description
AVON BY THE SEA LOT 8 BLK 44
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air, Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1958
Floors in Building
2
Number of units
6
Flooring type
Tile
Building materials
Block, Concrete, Stucco
Listing Agency:
Vincent Keenan, REALTORS
(321) 784-6286
Listed By:
Vincent Keenan · License #359856
(321) 693-0187
Added: Apr 30
Changed: Aug 25
Last Checked: Sep 7 at 11:06AM
MLS# 1076055
Copyright © 2026 Space Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This six-unit apartment property contains six two-bedroom, one-bath residences measuring approximately 650 square feet each, with balconies or backyards. The 3,872-square-foot complex was built in 1958 and features concrete block and stucco construction, tile flooring, central and window-unit cooling, electric heating, assigned parking, and a parking lot. Almost every unit has been renovated within the last five years, while the electrical system and paint have also been updated.
The property occupies 0.14 acres at a corner location near the beach, with access to Port Canaveral, Routes 520 and 528, Kennedy Space Center, Patrick AFB, shopping, dining, entertainment, and public services. The roof is approximately 15 years old and has received continuous maintenance, including joint flashing within the last two years. A newer gutter system was installed within the last two years, and the property has public water and sewer.
The property occupies 0.14 acres at a corner location near the beach, with access to Port Canaveral, Routes 520 and 528, Kennedy Space Center, Patrick AFB, shopping, dining, entertainment, and public services. The roof is approximately 15 years old and has received continuous maintenance, including joint flashing within the last two years. A newer gutter system was installed within the last two years, and the property has public water and sewer.
Key Highlights
- Six 2‑bedroom, 1‑bath units, each approximately 650 SqFt
- 3,872‑square‑foot apartment complex on 0.14 acres
- Almost all units renovated within the last 5 years
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
$39,636
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
3.98%
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%
$792,720
$792.7K
Cap Rate 7%
$566,229
$566.2K
Cap Rate 9%
$440,400
$440.4K
Market Conditions
NOI Build-Up for 3,872 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
$76.7K $19.80/SF
− Vacancy
−$4.6K −$1.19/SF
EGI
$72.1K $18.61/SF
− OpEx
−$32.4K −$8.38/SF
NOI
$39.6K $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 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%
$792,720
Cap Rate 7%
$566,229
Cap Rate 9%
$440,400
Alternative Uses
Best Use
Apartment 5plus
$566.2K
$495.5K – $660.6K
NOI $39,636 @ 7.0% cap · market cap 3.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$893.9K – $1.19M
NOI $71,508 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
Explore this area
Business Placement
Demographics for 32920, FL
9,984
Population
8,872
Households
1.1
Avg Household Size
58
Median Age
39%
College-Educated
96%
High-School Grad
24.8 sq mi
ZIP Area
403
Density / Sq Mi
$70,734
Median Household Income
$41,264
Median Earnings
$1,161
Median Rent
$323,900
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?
Apartment building - Well-maintained concrete multifamily property with renovated units, balconies or private backyards, and assigned parking.
Where is this apartment building located?
The property is located at 7522 Magnolia Avenue Cape Canaveral, FL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Six 2‑bedroom, 1‑bath units, each approximately 650 SqFt; 3,872‑square‑foot apartment complex on 0.14 acres; Almost all units renovated within the last 5 years
