418 Adams AveCape Canaveral, FL 32920

Property Details for 418 Adams Ave

Year built

1966

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.29 AC

Property size (Sq ft)

3,960 SF

Zone code

R2

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

24-37-23-CG-00004.0-0013.00

APU

243723CG000040001300

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,203,300

  6.5%

  $1,110,738

  7%

  $1,031,400

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,035,484

  Geo Method

  $963,850

• Alternative Use

  Use

  Valuation

  Residential

  $1,110,738

  Hospitality

  $1,017,430

  Educational

  $846,490

  Medical

  $875,602

  Retail

  $1,316,762

Location Insight

City

Cape Canaveral

County

Brevard

State

Florida

Latitude

28.3908

Longitude

-80.6005

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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