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    505 Fillmore Ave Cape Canaveral, FL 32920

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    For Sale
    Contact for pricing

    15-Unit Multifamily Complex, Prime Location

    Property size:
    11,904 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 15-unit apartment building, Fillmore Palms, presents a lucrative investment opportunity in Cape Canaveral, Florida. Situated on a 0.58-acre lot just 300 feet from the beach, this concrete block building with a pitched shingle roof (new in 2021) offers approximately 11,904 gross square feet across two stories. The property boasts a desirable unit mix: five one-bedroom/one-bathroom units, nine two-bedroom/one-bathroom units, and one four-bedroom/two-bathroom unit, making it ideal for both long-term and short-term rentals. Amenities include a sparkling swimming pool and central air conditioning. Utilities are efficiently managed with separately metered electricity, while water, sewer, and trash are covered by the landlord. Its prime location offers easy access to Cocoa Beach Pier (5 minutes away) and Kennedy Space Center (under 20 minutes). The property's projected annual income is $529,200, presenting significant potential for short-term rental (STR) and Airbnb operations. The property is zoned R-3. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a highly sought-after coastal location. The building was renovated in 2023.

    Property Features for 505 Fillmore Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    11,904 SF

    Building Details

    Year Renovated
    2023
    Buildings
    1
    Stories
    2
    Units
    15

    HighLights

    • $529,200 projected annual income.
    • Short‑term rental (STR) potential.
    • Airbnb opportunity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cape Canaveral
    County
    Brevard
    State
    Florida
    Longitude
    -80.6003465
    Latitude
    28.3829149

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    FAQs

    What type of property is this?
    Multifamily property - 15-Unit Multifamily Complex, Prime Location
    Where is this multifamily property located?
    The property is located at 505 Fillmore Ave Cape Canaveral, FL.
    What are key features of this property?
    This property features: $529,200 projected annual income.; Short-term rental (STR) potential.; Airbnb opportunity.
    Request Owner's contact information
    505 Fillmore Ave Cape Canaveral, FL 32920
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    505 Fillmore Ave Cape Canaveral, FL 32920
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