Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    611 Washington Ave Cape Canaveral, FL 32920

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    611 Washington Ave Cape Canaveral, FL 32920

    View on Map
    • Small apartment buildings
    Off-Market
    Property ID
    US18-6727631
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Small apartment buildings

    Property Details for 611 Washington Ave

    Property type
    Small apartment buildings

    Description

    This exceptional 9,583 square foot lot, located at 611 Washington Avenue in Cape Canaveral, Florida (32920), presents a unique investment opportunity. Situated just steps from the beach, this 132' x 75' parcel boasts breathtaking ocean views and is zoned for multi-family use, allowing for the construction of either a spacious single-family residence or a duplex. The property's strategic location between Cape Canaveral and Cocoa Beach makes it highly desirable, with nearby comparable properties selling for $300 to $600+ per square foot. The lot is practically turnkey, requiring minimal clearing, with utilities readily available. A clever step-back design ensures stunning ocean views from both the second and third floors, maximizing the potential of the allowed 45-foot maximum building height. The wide, contractually maintained beaches offer pristine sand just steps away, enhancing the property's appeal. Directly across from Cherie Down Park, residents will enjoy easy access to recreational amenities and natural beauty. This prime location, combined with the multi-family zoning and ocean views, creates an exceptional opportunity for building a dream home or a lucrative vacation rental property. Buyers are responsible for verifying all information and obtaining necessary permits from the city and county. The asking price for this remarkable property is $695,995.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cape Canaveral
    County
    Brevard
    State
    Florida
    Longitude
    -80.5973515
    Latitude
    28.3911846

    Comparable in this City

    • New
      $2,200,000
      8,143 SF

      Cape Canaveral Multifamily Investment

      Well-located 12-unit multifamily property near the ocean.
      404 Harrison Ave, Cape Canaveral, FL 32920
      View Details
    • New
      $395,000
      1,008 SF

      Cape Canaveral Beachside Duplex Opportunity

      Duplex near the ocean, ideal for investors or owner-occupiers.
      7554 Magnolia Ave, Cape Canaveral, FL 32920
      View Details
    • New
      $669,500
      2,240 SF

      Cape Canaveral Duplex Near Beach

      Spacious, well-maintained duplex near the beach in Cape Canaveral.
      212 Monroe Ave, Cape Canaveral, FL 32920
      View Details

    Similar Nearby for Sale

    • New
      $2,200,000
      8,143 SF

      Cape Canaveral Multifamily Investment

      Well-located 12-unit multifamily property near the ocean.
      404 Harrison Ave, Cape Canaveral, FL 32920
      View Details
    • New
      $395,000
      1,008 SF

      Cape Canaveral Beachside Duplex Opportunity

      Duplex near the ocean, ideal for investors or owner-occupiers.
      7554 Magnolia Ave, Cape Canaveral, FL 32920
      View Details
    • New
      $669,500
      2,240 SF

      Cape Canaveral Duplex Near Beach

      Spacious, well-maintained duplex near the beach in Cape Canaveral.
      212 Monroe Ave, Cape Canaveral, FL 32920
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Cape Canaveral Office Space Available

      Unfurnished office space in Cape Canaveral, move-in ready.
      102 Columbia Dr, Cape Canaveral, FL 32920
      View Details
    • $15 SF/Yr
      5,000 SF

      Retail/Office Space on Atlantic Avenue

      Flexible retail or office spaces available for lease.
      8075-8085 N Atlantic Ave, Cape Canaveral, FL 32920
      View Details
    • Contact for pricing
      1,311 SF

      Retail Space on Atlantic Avenue

      Retail space for lease in established Cape Canaveral strip center.
      6103 N Atlantic Ave, Cape Canaveral, FL 32920
      View Details
    • Contact for pricing

      Commercial Office Building For Rent

      Two-story office building on Hwy A1A, near Port Canaveral.
      7011 N Atlantic Ave, Cape Canaveral, FL 32920
      View Details
    • Contact for pricing

      Healthcare Facility Sub Lease Opportunity

      Aesthetically pleasing +/- 9621 SF healthcare facility for sub-lease.
      390 Challenger Rd, Cape Canaveral, FL 32920
      View Details
    • $14 SF/Yr

      Canaveral Commercial Space For Rent

      5,000 SF commercial space on Atlantic Avenue available for rent.
      8075 N Atlantic Ave, Cape Canaveral, FL 32920
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    611 Washington Ave
    Cape Canaveral, FL 32920
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!