Apartments and Multifamily Real Estate Brokerage Services

Sperry Commercial - Flint Brokers & Associates is committed to maintaining our reputation as an exceptional commercial real estate agency in Melbourne, and greater Brevard County Florida. Through dedication to our client-focused, experience-backed investing strategy, we’re confident we can assist you in the development, procurement, or disposition of your next multifamily apartment, or mobile home park real estate investment. Our partnership with Sperry Commercial Global Affiliates further solidifies our position as an industry leader, and adds to the value we provide our clients through our dedicated global network of affiliates.

Garden-style apartments in Viera, Florida

For Multi-Family Buyers:

If you’re considering an investment in apartments, or other multifamily properties on the Space Coast, Sperry Commercial – Flint Brokers & Associates can help you locate, and evaluate the best opportunities to leverage your investment. We have intimate market knowledge of the area, and we can identify potential opportunities based on your criteria, either on-market, or off-market. We also have a large network apartment and multifamily property owners and investors who we converse with regularly, and we know the market players who are the most likely to sell. Finally, we have a sophisticated information database that provides us direct access to property and owner records, which allows us to make “quiet inquiries” on behalf our clients.

For Multi-Family Sellers:

If you currently own an apartment, a residential portfolio, or a mobile home park in Central Florida, our experts can evaluate your asset, and provide you with a broker’s opinion of value, at no charge. We can give you a very good idea of the potential demand for your property, and a reasonable estimate of the time required to sell.

In addition, we are experts at assembling your property information, and combining it with multiple media sources to create a comprehensive offering package. Our sophisticated technology platform, combined with our local connections, and our global network of affiliates, will put your offering in front of the right buyers. We leverage this system to boost buyer interest, and generate multiple offers which, in turn, maximizes your selling price. We are a commercial real estate technology firm with a global reach. We know what the market demands, and how to capture unseen value.

An overview of Multi-Family Investment Properties

A multi-family investment is a general term used to describe an income-generating commercial property, or group of properties, that consists of multiple residential dwelling units. This can be a traditional apartment community under one roof, a portfolio of separate residential properties, or a mobile home park. While any residential investment that generates income is a depreciable asset under the IRS tax code, lenders will grant traditional residential loans for multifamily properties under five dwelling units, such as a quadruplex, triplex, duplex, or even a single-family home. Alternatively, lenders consider units with 5 units or more to be commercial investments, and they’re generally subject to the same lending standards as other commercial real estate assets. At Sperry Commercial – Flint Brokers & Associates, we primarily focus on the latter, as seasoned owners of larger commercial income properties recognize the value of experienced commercial real estate practitioners with advanced training in their fields.

High-rise Apartments

By definition, high-rise apartments are in a single building with nine or more floors, although specific building codes can vary in different municipalities. These high-rise apartments typically have on-site management, secured entrances, and offer a lot of amenities. They are usually found in dense population centers. New high-rise multifamily developments have benefited tremendously, due to the thriving economic growth seen in Melbourne, and greater Brevard County Florida, and most of our owners have reported very little impact from effects of the Covid-19 pandemic. Economic drivers, such as our surging manufacturing, defense, and aerospace industries, continue to attract investment to the Space Coast, and surrounding areas in Central Florida.

Mid-rise Apartments

Mid-rise apartments are similar to high-rise apartments, with the exception that they are usually 4 to 8 stories. Much like high-rise multi-family properties, they are generally found in urban locations, with close access to major traffic routes. Garages and elevators are common, but they may not have the same level of amenities that one would find in high-rise apartments. We’re finding that mid-rise multi-family properties are acting as very stable income-generating asset in the Melbourne and greater Brevard County area.

Recent data has shown that the Space Coast is quickly becoming the technology corridor of Florida. With the more events like the recent SpaceX launch, sending humans back into space from the US for the first time in 10 years, we’re seeing unprecedented business investment in Brevard County and surrounding areas. This investment is driving the demand for mid-rise multi-family properties to suit the upscale living demands of high-wage earners.

Garden-style Apartments

Garden-style apartments are defined as a one, two, or three-story multifamily properties that are often more dispersed, and surrounded with green or “garden” spaces. They are very common here in Brevard County, as they are typically found in suburban communities, and many were built during the sixties to accommodate the enormous growth of NASA’s space program. These types of properties are incredibly well positioned for investors in the City of Melbourne, and Brevard County FL. New buyers are updating older assets at an increasing pace, forcing equity, and improving valuations to meet the living-style demand of new professionals moving to Florida’s Space Coast.

These new professionals are abundant. Major employers like Harris Corporation, Northrup Grumman, and Embraer are all securing a major presence, and many new aerospace firms, such as Space X, Blue Origin, One Web, and Aerion Supersonic have all made Brevard County their home, increasing the demand for more housing.

Manufactured home parks

Manufactured home communities, also known as mobile home parks have always been a stable profit generator of multi-family properties. A popular business model is to own the land, and then lease the given spaces for individual manufactured homes. Due to the incredible need for support personnel, demand remains high for this style of affordable living. To that point, recent data has shown that between 2015 and 2018, nearly a quarter (23.3%) of the of jobs created in Brevard County were in manufacturing, far exceeding the state and national numbers of 8.5% and 2.9%, respectively. Although Brevard County averaged an annual wage of $89,536, there still remains high demand for affordable living options. Manufactured home investment allows for investors in Melbourne and greater Brevard County FL area to meet this growing demand.

Benefits of Investing in Apartments & Multi-Family Commercial Property


Value

The City of Melbourne, and greater Brevard County FL is teeming with multi-family apartment and mobile home communities that are well positioned for forced appreciation. Global firms continue to locate here, and expand the economic base of the area. This is creating more demand for this already valued asset class, and older properties are being improved and renovated to meet the increasing demand from the tenant base found in Melbourne, and Brevard County Florida. These improvements allow for a stronger performing asset and continue to improve the overall property value in Melbourne, where commercial real estate appreciation is already outpacing the rest of the country. Here at Sperry Commercial - Flint Brokers & Associates, we can act as your trusted advisor to provide established, locally driven investing insight as you look to capitalize on these multifamily investment opportunities.

Cash flow

With a forced increase in value comes an improvement in cash flow, and subsequent return on investment. Independent of an investor's unique investing strategies, cash flow and ROI are at the top of the list of requirements for any given income-generating property. We’re seeing clients benefit from higher than average cash-flow returns due to the growing demand of high-quality living options within the community. The City of Melbourne, and the surrounding Brevard County area are benefiting from healthy economic growth seen in the aerospace and industrial sectors, further advancing the standard of living, and demand for apartments and multifamily commercial properties.

Vacancies Carry Less Risk

When addressing a multi-family commercial property investment, you will want to factor in an acceptable vacancy rate. The benefit of maintaining a larger number of rental units within an apartment building, or other multifamily commercial property, is that it minimizes the negative impact of a vacancies from individual tenants against your total investment. Bringing targeted apartments, and other multifamily investment properties to a sought-after standard of living helps landlords not only capitalize on their investment, but also to keep vacancies rates low. Lower vacancy rates, due to healthy economic activity, and tenant demand, is helping investor’s returns outpace other areas of the country.

When clients look to purchase, sell, lease, or engage in any investment strategy related to apartment buildings, and other multifamily investments, they will benefit by employing the resources, and local knowledge, of a trusted commercial real estate advisor.

Full Commercial Real Estate Brokerage Services

Here at Sperry Commercial - Flint Brokers & Associates, we’re committed to our clients, and their commercial real estate investment success. Through our dedicated service, we’ve established our name as one of the most trusted, and reputable commercial real estate brokerages in the industry. Whether you’re looking to purchase, or sell a multifamily commercial property, or are simply looking for some tailored investment insight, we can help!

Contact Us Today to learn more about some unique income-generating commercial properties available on Florida's Space Coast, in the Melbourne area, or anywhere in Central Florida.