595 Cinnamon Drive, Satellite Beach, FL 32937

$1,356,750

Property Type: Commercial Sale Baths: 8 Square Footage: 5,550 Lot Size (sq. ft.): 16,553 Status: Closed

Current Price: $1,356,750 List Date: 5/14/2026 Last Modified: 7/31/2026

Overview

Description

8 unit multifamily asset offering immediate income, operational flexibility, and clear upside. All leases are month to month, giving the next owner flexibility to adjust rents, improve terms, renovate strategically, or reposition the asset over time. The unit mix includes five 1 bedroom, 1 bath units and three 2 bedroom, 1 bath units, serving a strong tenant pool and supporting long term rental demand. Major capital items have already been addressed, including a 7 year old roof, newer AC systems, updated electrical, and a recently repaved parking lot. With flexible lease terms, a marketable unit mix, and major updates already completed, this is a strong opportunity to acquire an 8 unit multifamily property with immediate rental income and room to grow.

Listing Details MLS# 1077379

General Property Information

Number Of Units Total: 8
Stories Total: Yes
Bathrooms Total: 8
Building Area Total: 5550
Building Area Source: Public Records
Year Built: 1963
Lot Size Acres: 0.38
Land Lease YN: No
Association YN: No
Water Body Access YN: No
Waterfront YN: No
Senior Community YN: No
List Price/SqFt: 270.27
Sold Price/SqFt: 244.46

Property Features

Building Features: Laundry Construction Materials: Block; Concrete Cooling: Ceiling Fan(s); Central Air; Electric Current Use: Investment; Multi-Family Fencing: Block Flooring: Terrazzo Heating: Central; Electric Listing Terms: Cash; Conventional Location: Beach Area Lot Features: Zero Lot Line Operating Expense Includes: Insurance; Licenses; Maintenance; Pest Control Owner Pays: Cable TV; Common Area Maintenance; Exterior Maintenance; Grounds Care; Insurance; Repairs; Roof Maintenance; Trash Collection; Water Parking Features: Assigned; Parking Lot Possession: Close Of Escrow Road Frontage Type: City Street Roof: Shingle; Tile Sale Includes: Building & Land Security Features: Carbon Monoxide Detector(s); Smoke Detector(s) Sewer: Public Sewer Showing Requirements: Lockbox Special Listing Conditions: Standard Tenant Pays: Electricity; Insurance Utilities: Cable Connected; Electricity Connected; Separate Electric Meters; Separate Water Meters; Sewer Connected; Water Connected Water Source: Public

Contract Information

Original List Price: 1500000
Listing Contract Date: 2026-05-14
Property Sub Type: Multi Family
Comp Sale YN: No

Location Tax and Legal

Street Number: 595
Street Name: Cinnamon
Street Suffix: Drive
County: Brevard
State: FL
Postal Code: 32937
MLS Area Major: 381 - N Satellite Beach
Subdivision Name: Michigan Beach Replat of Part of 3rd Add To

Remarks and Miscellaneous

Public Remarks: 8 unit multifamily asset offering immediate income, operational flexibility, and clear upside. All leases are month to month, giving the next owner flexibility to adjust rents, improve terms, renovate strategically, or reposition the asset over time. The unit mix includes five 1 bedroom, 1 bath units and three 2 bedroom, 1 bath units, serving a strong tenant pool and supporting long term rental demand. Major capital items have already been addressed, including a 7 year old roof, newer AC systems, updated electrical, and a recently repaved parking lot. With flexible lease terms, a marketable unit mix, and major updates already completed, this is a strong opportunity to acquire an 8 unit multifamily property with immediate rental income and room to grow.

Status Change Information

Major Change Timestamp: 2026-07-31T01:20:33Z
Major Change Type: Status Change
Status Change Timestamp: 2026-07-30
Purchase Contract Date: 2026-05-23
Close Date: 2026-07-30
Close Price: 1356750

More Information

Income and Expenses

Gross Income: 10350

Unit 1 Details

Unit ID: Yes
Annual Rent: 13800
Unit SqFt: 650
# Units (This Type): 5
Furnished: Unfurnished
Unit Remarks: 1 Bedroom

Unit 2 Details

Unit ID: 2
Annual Rent: 13800
Unit SqFt: 650
# Units (This Type): 5
Furnished: Unfurnished
Unit Remarks: 1 Bedroom

Unit 3 Details

Unit ID: 3
Annual Rent: 13800
Unit SqFt: 650
# Units (This Type): 5
Furnished: Unfurnished
Unit Remarks: 1 Bedroom

Unit 4 Details

Unit ID: 4
Annual Rent: 13800
Unit SqFt: 650
# Units (This Type): 5
Furnished: Unfurnished
Unit Remarks: 1 Bedroom

Unit 5 Details

Unit ID: 5
Annual Rent: 17400
Unit SqFt: 750
# Units (This Type): 3
Furnished: Unfurnished
Unit Remarks: 2 Bedroom

Unit 6 Details

Unit ID: 6
Annual Rent: 17400
Unit SqFt: 750
# Units (This Type): 3
Furnished: Unfurnished
Unit Remarks: 2 Bedroom

Unit 7 Details

Unit ID: 7
Annual Rent: 18600
Unit SqFt: 750
# Units (This Type): 3
Furnished: Unfurnished
Unit Remarks: 2 Bedroom

Unit 8 Details

Unit ID: 8
Annual Rent: 15600
Unit SqFt: 650
# Units (This Type): 5
Furnished: Unfurnished
Unit Remarks: 1 Bedroom

Listing Office: LPT Realty, LLC

Last Updated: July - 31 - 2026

Information is deemed to be reliable, but is not guaranteed.