" I hope everyone that is reading this is having a good day."

"And if you are not, just know that in every new minute that passes you have an opportunity to change that.  Gillian Anderson 

Cocoa Beach water hazard.

Now that the investors are back in the Real Estate game we are seeing more of the small units come on the market.  Most of these are purchased by investors for rental income while building equity.

As of this writing there are 18 condos in Cocoa Beach and Cape Canaveral on the market that are listed at $75,000 or below going all the way down to $37,500.  One of these is in the Oaks with 2 bedrooms 2 baths and being a foreclosure it is listed at $69,900 with homepath financing available.

Get in the game!

Jim Bagwell

"I was seldom able to see an opportunity"

"until it had ceased to be one"  Mark Twain

Have you ever dreamed of owning your own B & B?  This could be your chance!  This property is located in the historic section of old Eau Gallie.  The home was built in 1886 and has 3226 square feet.  The home has been totally upgraded with fire and  sprinkler system which will make it much less expensive to insure.  It also has a detached 3 car garage and sits on .42 acre.  It is priced at $749,900 or $232 per square foot, I feel that is a bit overpriced but if this section of town continues to thrive the value will be there in the future.

There is a unique property available in Cape Canaveral.  It actually consists of 2 properties.  The first is a 3 story triplex sitting on 1.1 acre on the ocean.  This triplex generates $36,000 in annual cash flow.  There is also an existing pad on the ocean that will allow 2 more units to be built.  This one is listed at $1,100,000.  The adjacent property is .48 acre with 4 existing units and the properties together generate $75,500 in annual cash flow with room to build a total of 15 units on both properties.  The adjacent property is also listed at $1,100,000 or we could put together a deal for both properties at a lesser price.

Jim Bagwell  

"All that is valuable in human society"

"depends upon the opportunity for development accorded the individual." Albert Einstein

The Beach Unlimited building is now on the market in Cocoa Beach.  This building is listed at $2,570,400, has 12740 square feet and was built in 2001 on 1.62 acres.  I have always been perplexed on this type business like beachwave and Beach Unlimited.  The buildings are always very large on prime parcels but I never see more than 4 or 5 cars in the parking lots except on special events.  You would think the operating costs for a building this big would be tremendous and I just don't understand the profitability.

On another note in Cocoa Beach, The city has approved another dollar store to be constructed on the parcel where Wendys Restaurant was demolished.  I personally think the last thing we need is another dollar store.

There is a listing on cottage row in Cocoa Beach that I like for business.  This is a stand alone building on N. Orlando that was built in 1939.  It is still a bit overpriced at $219,000 but it could be a great location for numerous things.  If you look at the building at N. 1st & N. Orlando you can see what these buildings can look like when redone.

Jim Bagwell

"Failure is simply the opportunity to begin again,"

"this time more intelligently."  Henry Ford

Investors are back big time for all the small condos scattered through Cape Canaveral.  You can usually find these for around $50,000 and create a small cash flow and wait for the value to escalate.  We recently listed and closed 2 of these in less than 30 days.

2 interesting listings hit the market this month.  One is a eightplex in Cape Canaveral, the property appears to be in good shape with a onsite laundry for extra income.  It is listed at $339,000 with a cap rate around 9.5, you would have to get the price lowered a bit for safety.

The other is The Faulty Towers in Cocoa Beach. As you may recall this is the hotel that caused much controversy when they became a clothing optional hotel.  This property consists of 32 rooms, resort style pool area and tiki bar.  Listed at $2,900,000.  Now you can be a hotel owner.

Jim Bagwell

"When written in Chinese,"

"the word 'crisis' is composed of two characters.  One represents danger and the other represents opportunity"  John F. Kennedy

Picture is of a motel on the ocean in south Cocoa Beach.  It has been on the market since 2005 off and on.  The price has always been between $3.5M to $3.9M.  The property sits on .81 acre on the ocean with 109' of oceanfront.  There are 18 units in the motel, depending on zoning approval, this could be a weekly rental opportunity.

In 2012 there were 16 income properties sold in Cocoa Beach/Cape Canaveral, I am proud to say that Walker Bagwell Properties participated in 25% of the sales.

At the present time there are 19 active income properties listed in the same area.  They are priced from $159,900 to $3,500,000.

Build your future now.

Jim Bagwell