637 S Orlando Avenue, Cocoa Beach, FL 32931
$3,545,000
Property Type:
Commercial Sale
Baths:
13
Square Footage:
8,177
Lot Size (sq. ft.):
21,344
Status:
Pending
Current Price:
$3,545,000
List Date:
7/16/2025
Last Modified:
1/09/2026
Description
Listed $855,000 below appraised value. 9.93% cap rate. Owning a short-term rental may offer access to tax strategies such as bonus depreciation and cost segregation. Bonus depreciation, which is currently available at 100% for qualifying property placed in service in 2025, May offer significant tax advantages. Speak with your tax advisor to explore how these options might benefit your investment. Listed below appraised value. The Drift is a fully renovated boutique short term rental complex located in the heart of Cocoa Beach, just a short walk to the surf and downtown. With 13 beautifully upgraded units, including both one-bedroom and two-bedroom options, The Drift offers a blend of modern amenities and coastal charm. This turnkey property is an ideal investment, offering strong cash flow potential and a highly desirable location. Selling with turn key ability.
More Information MLS# 1051839
Contract Information
Comp Sale YN: Yes
Current Price: $3,545,000
Original List Price: 4400000
List Price: $3,545,000
Status: Pending
Listing Contract Date: 2025-07-16
Property Sub Type: Multi Family
Location, Tax, and Legal
Tax Account: 2518055
Parcel Number: 25-37-14-51-00026.A-0004.00
General County Location: Central
Tax Annual Amount: 22170.5
Tax Year: 2023
Additional Parcels YN: No
Directions: Head South from Ron Jon Surf Shop for 3.6 miles, property will be on your left.
General Property Information
Number Of Units Total: 13
Stories Total: 3
Building Area Total: 8177
Building Area Source: Public Records
Lot Size Acres: 0.49
Accessibility Features YN: No
Association YN: No
Building Name: The Drift
Water Body Access YN: Yes
Waterfront YN: No
Land Lease YN: No
Senior Community YN: No
List Price/SqFt: 433.53
Bathrooms Total: 13
Year Built: 1956
Remarks and Miscellaneous
Public Remarks: Listed $855,000 below appraised value. 9.93% cap rate. Owning a short-term rental may offer access to tax strategies such as bonus depreciation and cost segregation. Bonus depreciation, which is currently available at 100% for qualifying property placed in service in 2025, May offer significant tax advantages. Speak with your tax advisor to explore how these options might benefit your investment. Listed below appraised value. The Drift is a fully renovated boutique short term rental complex located in the heart of Cocoa Beach, just a short walk to the surf and downtown. With 13 beautifully upgraded units, including both one-bedroom and two-bedroom options, The Drift offers a blend of modern amenities and coastal charm. This turnkey property is an ideal investment, offering strong cash flow potential and a highly desirable location. Selling with turn key ability.
Construction Materials
Block: 1
Composition Siding: 1
Concrete: 1
Stucco: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Multi Units: 1
Other: 1
Current Use
Hotel/Motel: 1
Multi-Family: 1
Flooring
Vinyl: 1
Heating
Central: 1
Other: 1
Lot Features
Other: 1
Parking Features
Assigned: 1
Parking Lot: 1
Possession
Close Of Escrow: 1
Water Body Access Type
Public Accessible: 1
Income and Expenses
Net Operating Income: 352000
Road Frontage Type
City Street: 1
Roof
Shingle: 1
Sewer
Public Sewer: 1
Unit 1 Details
Unit ID: 1
Annual Rent: 30000
Unit SqFt: 874
# Units (This Type): 1
Baths Total: 1
Furnished: Furnished
Unit Remarks: Annual rent not accurate
Unit 2 Details
Unit ID: 2
Annual Rent: 30000
Unit SqFt: 874
# Units (This Type): 1
Baths Total: 2
Furnished: Furnished
Unit Remarks: Annual rent not accurate
Unit 3 Details
Unit ID: 3
Annual Rent: 30000
Unit SqFt: 874
# Units (This Type): 1
Baths Total: 2
Furnished: Furnished
Unit Remarks: Annual rent not accurate
Unit 4 Details
Unit ID: 4
Annual Rent: 30000
Unit SqFt: 552
# Units (This Type): 1
Baths Total: 1
Furnished: Furnished
Unit Remarks: Annual rent not accurate
Unit 5 Details
Unit ID: 5
Annual Rent: 30000
Unit SqFt: 552
# Units (This Type): 1
Baths Total: 1
Furnished: Furnished
Unit Remarks: Annual rent not accurate
Unit 6 Details
Unit ID: 6
Annual Rent: 30000
Unit SqFt: 552
# Units (This Type): 1
Baths Total: 1
Furnished: Furnished
Unit Remarks: Annual rent not accurate
Unit 7 Details
Unit ID: 7
Annual Rent: 30000
Unit SqFt: 552
# Units (This Type): 1
Baths Total: 1
Furnished: Furnished
Unit Remarks: Annual rent not accurate
Unit 8 Details
Unit ID: 8
Annual Rent: 30000
Unit SqFt: 552
# Units (This Type): 6
Baths Total: 1
Furnished: Furnished
Unit Remarks: Annual rent not accurate
Utilities
Cable Available: 1
Electricity Connected: 1
Natural Gas Available: 1
Water Source
Public: 1
Showing Requirements
24 Hour Notice: 1
Appointment Only: 1
Call Listing Agent: 1
Listing Agent Must Accompany: 1
No Sign: 1
Building Features
Fenced: 1
Laundry: 1
Outside Storage: 1
Ceiling Type
Drywall: 1
Location
City: 1
Showing Considerations
Occupied: 1
Sale Includes
Building & Land: 1
Business with Real Estate: 1
Furniture, Fixtures and Equipment: 1
Location Tax and Legal
Street Number: 637
Street Direction Prefix: S
Street Name: Orlando
Street Suffix: Avenue
County: Brevard
State: FL
Postal Code: 32931
MLS Area Major: 272 - Cocoa Beach
Subdivision Name: Parsons Add To Cocoa Beach
Status Change Information
Major Change Timestamp: 2026-01-09T22:58:31Z
Major Change Type: Status Change
Price Change Timestamp: 2025-11-10T17:04:18Z
Status Change Timestamp: 2026-01-09
Purchase Contract Date: 2026-01-09
Property Features
Building Features: Fenced; Laundry; Outside Storage
Ceiling Type: Drywall
Construction Materials: Block; Composition Siding; Concrete; Stucco
Cooling: Ceiling Fan(s); Central Air; Multi Units; Other
Current Use: Hotel/Motel; Multi-Family
Flooring: Vinyl
Heating: Central; Other
Lot Features: Other
Parking Features: Assigned; Parking Lot
Possession: Close Of Escrow
Water Body Access Type: Public Accessible
Road Frontage Type: City Street
Roof: Shingle
Sale Includes: Building & Land; Business with Real Estate; Furniture, Fixtures and Equipment
Sewer: Public Sewer
Showing Considerations: Occupied
Showing Requirements: 24 Hour Notice; Appointment Only; Call Listing Agent; Listing Agent Must Accompany; No Sign
Utilities: Cable Available; Electricity Connected; Natural Gas Available
Water Source: Public
Listing Office:
Margaux Realty, Inc
Last Updated: January - 09 - 2026
Information is deemed to be reliable, but is not guaranteed.