3590 S Atlantic Ave - Apartments FOR SALE


Cocoa Beach, FL 32931
$5,000,000 USD
321-863-3226
3590 S Atlantic Ave, Cocoa Beach, FL for Sale
$5,000,000 USD
Apartments - FOR SALE
1/83
null | Request Cap Rate

3590 S Atlantic Ave
Cocoa Beach, FL 32931


OVERVIEW

Lightle Beckner Robison is pleased to offer for sale The Banana River Resort located on Florida's Banana River that connects to Florida’s intercostal and across the street from the Atlantic Ocean. This ten-unit riverfront resort recently underwent over $2M in capital improvements in 2021. The property is currently being operated as a short-term vacation rental comprised of one 2-story building containing (7) units, and a 2,208 Square foot triplex. The building has been priced at an estimated 8% return based on current income. Palm Bay, Melbourne, and Titusville were ranked by the Milken Institute as the second fastest growing small cities in the United States. SpaceX, Blue Origin, and NASA all hold facilities within 10 Minutes of the property. Port Canaveral is situated only three miles north, and was ranked as the second busiest Multi-day cruise embarkation in the world. The opportunities are endless for annual rental, short-term rental, rental transient, venue events, weddings, reunions, retreats, and corporate functions. Just 50 Miles from Orlando International Airport, 15 Miles from Melbourne International Airport, and 25 Miles from Space Coast Regional Airport. Come invest in a slice of Florida’s Space Coast while enjoying your private beach that awaits.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$692 USD /SF

# OF UNITS

10

PRICE/UNIT

$500,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1954

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.73 AC

LAND SF

31,799 SF

ZONING

RU215

APN/PARCEL ID

25-37-35-25-00003.0-0001.00

ASK ABOUT THIS PROPERTY

Robert BecknerLightle Beckner Robison, Inc.More Info
321-863-3226

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Robert BecknerLightle Beckner Robison, Inc.More Info
321-863-3226

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.