COCOA VILLAGE

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Property tours are by appointment only. Please contact one of the listing brokers below to schedule tours. For questions related to debt financing, please contact a listing broker, as attractive debt quotes have been obtained for this opportunity.

20
UNITS

7,600
SQFT

1925 & 1929
YEAR(S) BUILT

PRICED AT
MARKET BID

VITAL PROPERTY DATA

  • PROPERTY ADDRESS: 16 & 22 South Street, Rockledge, FL

  • NUMBER OF UNITS: 20 Units

  • RENTABLE SQUARE FOOT: 7,600 SF

  • AVERAGE UNIT SIZE: 380 SF

  • NUMBER OF BUILDINGS: (2)

  • LOT SIZE: 0.18 Acres +/-

  • FINANCING: Free and Clear

TWENTY-UNIT ASSET WITH IMMEDIATELY ATTAINABLE UPSIDE

  • Twenty-Unit Asset Consisting of 40% Studio Units, 50% Two-Bedroom Units, and 10% Two-Bedroom Units

  • Uniquely Positioned to Provide Efficient and Affordable Floorplans to the Cocoa/Rockledge Renter Pool

  • Currently, 16 of the 20 Units are on Month-to-Month Leases, Offering Investors a Clear and Controllable Pathway to Achieving Pro Forma Returns

  • Located Just Minutes from the Heart of Historic Cocoa Village, Home to Over 100 Businesses, Restaurants, and Cultural Attractions

  • Situated Just Over Nine-Miles from Kennedy Space Station, Home to NASA, SpaceX, Blue Origin, and Many Other Aerospace Related Corporations

  • Potential to Increase Average Effective Rents 35.85% Upon Completion of a Property-Wide Renovation Plan

  • Opportunity to Increase Net Operating Income by 64.43% Within the First Two Years of a Buyer’s Ownership Period

SURROUNDED BY MAJOR EMPLOYERS AND AREA ATTRACTIONS

  • 1-Minute to Historic Downtown Cocoa Village

  • 2-Minutes to Rockledge High School

  • 3-Minutes to Cocoa Riverfront Park and Amphitheater

  • 4-Minutes to Rockledge Regional Medical Center

  • 5-Minutes to Rockledge Square Shopping Center (Publix Super Market)

  • 5-Minutes to Catherine Schweinsberg Rood Central Library

  • 8-Minutes to Merritt Island

  • 12-Minutes to Merritt Square Mall and IMAX

  • 18-Minutes to Port Canaveral

  • 18-Minutes to the World-Famous Cocoa Beach

  • 22-Minutes to Cape Canaveral Space Force Station

  • 24-Minutes to Kennedy Space Center and the Blue Origin Rocket Factory

LOCATED AT THE HEART OF FLORIDA’S SPACE COAST

HOME TO:

  • SpaceX

  • Blue Origin

  • Lockheed Martin

  • NASA

  • Boeing

  • Northrop Grumman

  • L3Harris

  • Terran Orbital

  • Embraer

  • United Launch Alliance

  • Astra

    NOTEABLE HIGHTLIGHTS:

  • #2 in the U.S. for Number of Aerospace Establishments

  • 16,019+ Aerospace Companies

  • 151,460+ Aerospace Employees

  • “Florida’s Space Coast is the world’s premier gateway for civil, defense and commercial space.” – Lynda Weatherman, Pres. EDC of Florida’s Space Coast.”

DEAL TEAM CONTACTS

Benjamin Skinner
Associate Director | Senior Investment Associate
O. (407) 557-3889
Benjamin.Skinner@marcusmillichap.com

Matthew Prozzillo
Associate Director | Senior Investment Associate
O. (407) 557-3888
Matthew.Prozzillo@marcusmillichap.com

Alec Neu
Investment Associate
O. (407) 557-3860
Jhamil.Moore@marcusmillichap.com

Jhamil Moore
Investment Associate
O. (407) 557-3830
Jhamil.Moore@marcusmillichap.com

Contact an Agent Listed Above to Schedule Property Tours