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Property profile & analytics
FOR SALE
Apartment buildings
418 Adams Ave Cape Canaveral, FL 32920
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US19-0227868
For Sale
1 / 61
$3,550,000
418 Adams Ave, Cape Canaveral, FL 32920
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Property summary
AI-generated overview
This exceptional 9-unit apartment building, located at 418 Adams Avenue in Cape Canaveral, Florida, presents a compelling investment opportunity. The property boasts 6,864 square feet on a 0.29-acre lot and features concrete block construction, ensuring durability and longevity. Built in 1966, this two-story building offers nine units, each equipped with central air conditioning. Its prime location, just 1.5 blocks from the beach, provides unparalleled walkability and access to the vibrant Cape Canaveral coastal lifestyle. A private courtyard offers residents a tranquil retreat. The property's current condition presents a significant value-add opportunity for developers seeking to renovate and modernize the units, enhancing their market value and rental income. The building's solid foundation and desirable location make it an attractive prospect for investors looking to capitalize on the thriving Cape Canaveral real estate market. The asking price is $3,550,000. Showings are by appointment only. The property's zip code is 32920.
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,960 SF
Lot
0.29 ac (12,632 SF)
Zoning code
R2
APN
24-37-23-CG-00004.0-0013.00
UPID
US19-0227868
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Fgt LLC · 15 yrs held
Fgt LLC
since 2011
6 recorded transactions
Zoning & alternative use
R2 · Cape Canaveral, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cape Canaveral submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cape Canaveral submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$12,272
Tax year 2023
Assessed value
$984,490
Assessed 2023
Previous assessed
$996,120
-1.2% YoY
Effective rate
1.25%
On assessed value
Assessed land
$399,000
Assessed improvement
$585,490
Land market value
$399,000
Improvement market value
$585,490
Total market value
$984,490
Applied tax rate
26.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
For Sale
Year built
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
2
Units
5
Rooms
10
Total area
3,960 SF
Lot
0.29 ac (12,632 SF)
Zoning code
R2
APN
24-37-23-CG-00004.0-0013.00
UPID
US19-0227868
Jurisdiction
BREVARD
Zoning & alternative use
R2 · Cape Canaveral, FL
Zoning R2 · permitted uses
R2 · Cape Canaveral, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cape Canaveral. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1966
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
2
Units
5
Rooms
10
Lot
0.29 ac
Current owner
From public records · entity-resolved
Fgt LLC
Entity
Mailing address
418 ADAMS AVE APT #3, CAPE CANAVERAL, FL 32920-2826
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 20, 2011
$450,000
Fgt LLC
All-shores Const & Supply Co I
Warranty Deed
$375,000 · James E & Virginia Morgan
Nov 5, 2010
$300,000
All-shores Const & Supply Co I
Bayview Ln Svcg LLC
Grant Deed
—
Aug 26, 2010
—
Bayview Ln Svcg LLC
Blue Coast Apartments Coc
Trustees Deed
related
—
Mar 6, 2006
$730,000
Blue Coast Apartments LLC
Frantzen,donald P JR
Warranty Deed
$600,000 · Donald P JR Frantzen
Dec 6, 1999
$280,000
Donald P Frantzen
Melgaard,norma J
Grant Deed
$224,000 · Seller
—
—
Blue Coast Apartments LLC
—
Deed Of Trust
related
$220,000 · Equity Ptrs/ctrl Florida LLC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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