The Sandpiper Park Inn is in the heart of Cape Canaveral’s Avon by the Sea district. Located less than 400 yards from a beautiful stretch of wide beach, this compound consists of a 20 unit apartment building, a duplex, and a single family house. Directly across the street from the apartments sits Sandpiper Park, with playgrounds, baseball and soccer fields, and new Cape Canaveral Multi-Generational Center When completed this Center will offer multiple recreational menities to the local neighborhoods and visitors coming into the area. The location for tourists can’t be beat: Orlando International Airport and the Theme Parks are only 30-45 minutes away and the Cruise Terminal is four miles from the property. At the Port, your guests can experience the local flavors at one of the many restaurants, charter a fishing boat for a day out on the ocean, or jump on the Casino Boat and test their luck! To the south, you will find Historic Cocoa Beach and Pier and the world-famous Ron Jon’s Surf Shop. Your guests get to experience all of this, and we did not even mention the launches!!! Watching the Space-X night launches from the beach or your front yard is an experience that will never be forgotten. Brevard County has experienced immense growth over the past 10 years with Space-X, Boeing, Amazon, and numerous other tech and engineering firms coming into the Space Coast. The 2010 Brevard population was 543,965, we’ve seen rapid growth of over 13% since this time. For the investor, the property is offered at an honest 5.83 CAP Rate with all the appreciation a beachside location in Cape Canaveral offers. An extremely cost efficient management and maintenance team is on-site, and wants to stay, or a new hands-on owner can move into the included 4-bedroom 2.5 bath house and take over the entire operation. The property went through renovations over the past couple of years, with new windows, flooring, and kitchens. The apartment building consists of 20 individually metered efficiency apartments that are rented on a weekly or monthly basis, with most tenants paying in cash every Friday. The tenant base is stable: two tenants have been at the property more than 4 years and another 11 of the 20 between three months and a year. The Sandpiper Park Inn includes an office for the on-site manager, plenty of parking, and a laundry room with coin operated washer/dyers for tenant convenience. Both units at the duplex have long-term tenants, as does the house. Included in this offering are the 20 efficiency units, a duplex with (2) 2 bedroom/1 bath units, and a 4-bedroom 2.5 bath house. Easily add a pool and take it to the next level by turning the entire property into a vacation resort!!!
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