8951 Lake Dr, Cape Canaveral
Brevard County Real Estate - Cape Canaveral
Cape Canaveral is located on Florida's Atlantic coast. It is north of Cocoa Beach and east of Merritt Island It is part of a region known as the Space Coast, and is the site of the Cape Canaveral Air Force Station (CCAFS). CCAFS is an installation of the US Air Force Space Command which is headquartered at Patrick Air Force Base in Satellite Beach. It is the primary launch site for unmanned rockets in the Eastern United States.
Port Canaveral is a deep water port located within Cape Canaveral. The port is a base for cruise and cargo shipping. Disney, Carnival, Royal Caribbean and Norwegian Cruise Lines operate cruise ships from Port Canaveral. Port Canaveral operates as foreign trade zone. This provides tax and tariff advantages to cargo operations from the port. A 2010 study conducted by Martin Associates estimated the port generated 13,093 jobs and $648.8 million in economic activity:
The Port Authority has approximately 1.9 million sq ft of commercial and industrial buildings. There is an additional 700,000 sq ft of industrial space outside the Port Authority. There are 3 hotels in Cape Canaveral providing a total of 380,000 sq ft of accommodation. Cape Canaveral has 422,951 sq ft of office space, 125,492 retail and 136,881 shopping.
There is around 9 million sq ft of residential real estate in Cape Canaveral. 6 million of this is allocated to condominium units and another 1 million in townhouses. There are 800,000 sq ft of multi-family units. Single family homes make up a relatively small proportion of the residential market.
Properties in Cape Canaveral are generally considered less desirable than similar properties in Cocoa Beach to the south. Much of the residential real estate in both cities dates from the 1960's. A lot of the cheaper condos are converted multi-family properties. Typically 1 bed/ 1 bath units with less than 400 sq ft of living space. Zoning restrictions for most of the city limit the minimum term of a rental agreement. These are designed to limit the areas in Cape Canaveral where condos can be used as vacation rentals.
Cape Canaveral is in East Central Florida. It's population as recorded in the 2010 Census was 9,912. Cape Canaveral is approximately 48 miles from Orlando (population 238,300) and around 24 miles from Palm Bay (population 103,190).
The median age for residents of Cape Canaveral is 51.4. Around 11.9% of Cape Canaveral households include school aged children and 33.5% of households include individuals aged 65 years or over. Census records indicate 92.8% of the Cape Canaveral population are White, 2.3% are Black or African American, .3% American Indian, 1.8% Asian and 1.7% are Two or more Races.
There are 8,295 housing units in Cape Canaveral. 2,669 (32.1%) of these were reported as vacant in the 2010 Census. Cape Canaveral is a tourist destination, 57.5% (1,535) of it's vacant housing units were classed as seasonal, recreational or for occasional use. There are 3,553 residential rental units in Cape Canaveral. 2,769 of them were occupied in 2010 providing a residential rental vacancy rate of 21.5%.
Cape Canaveral links:
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Brevard County
Brevard County is located in the East Central Florida region, along with Orange, Volusia, Sumter, Seminole, Lake, and Osceola counties. There are many incorporated municipalities in Brevard. Cities include Cape Canaveral, Cocoa, Cocoa Beach, Indian Harbour Beach, Melbourne, Palm Bay, Rockledge, Satellite Beach, Titusville, and West Melbourne. The towns in Brevard are Grant-Valkaria, Indiatlantic, Malabar, Melbourne Beach, Melbourne Village, and Palm Shores. Brevard?s population is well over half a million.
Top industries for Brevard County include technology, tourism, agriculture, and other service businesses. Top public sector employers for Brevard County are the Brevard County School Board, Brevard County Board of County Commissioners, NASA, and US Department of Defense. Private sector employers include Harris Corporation, Health First, Inc., United Space Alliance, Wuesthoff Health System, and Northrop Grumman Corporation.
Kennedy Space Center is located on Merritt Island in Brevard County and provides many jobs for the area, as well as acting as a popular tourist destination. It is from this activity that Brevard takes its nickname, the Space Coast. Nicknamed "Space City USA", the city of Titusville is across the water from KSC. The city?s population is highly-educated. The city is a popular destination for visitors wishing to see spacecraft launches.
Other tourist attractions in Brevard County include Port Canaveral, one of the busiest cruise ports in the world, the Merritt Island National Wildlife Refuge, and Cocoa Beach. Port Canaveral is serviced by Disney Cruise Lines, Carnival, and Royal Caribbean. Not just a tourist destination, the port is within a foreign trade zone.
In 2010 and 2011, the Brookings Institution reported that Brevard ranked in the bottom fifth of the nation's top metro areas, based on unemployment, gross metropolitan product, housing prices and foreclosed properties. In 2011, the county was rated the 6th worst in the nation for foreclosures. RealtyTrac rated Brevard as the best county in the United States for buyers in 2013 because of the low prices.
Neighboring Properties
| Address | Type | Sq Ft | Class | |
|---|---|---|---|---|
| 8951 Lake Dr | Condominium | 1,698 | A |
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| 8951 Lake Dr | Condominium | 1,698 | A |
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| 8951 Lake Dr | Condominium | 1,828 | A |
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| 8951 Lake Dr | Condominium | 1,828 | A |
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| 8951 Lake Dr | Undefined - Reserved for Use by Department of Revenue | 0 | A | |
| 8951 Lake Dr | Condominium | 1,698 | A |
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| 8951 Lake Dr | Condominium | 1,828 | A |
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| 8951 Lake Dr | Condominium | 1,828 | A |
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| 8951 Lake Dr | Condominium | 1,698 | A |
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| 8951 Lake Dr | Condominium | 1,956 | A |
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| 8951 Lake Dr | Condominium | 1,956 | A |
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| 8951 Lake Dr | Condominium | 1,698 | A |
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| 8951 Lake Dr | Condominium | 1,828 | A |
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| 8951 Lake Dr | Condominium | 1,956 | A |
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| 8951 Lake Dr | Condominium | 1,956 | A |
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| 8951 Lake Dr | Condominium | 1,698 | A |
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| 8951 Lake Dr | Condominium | 1,828 | A |
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| 8951 Lake Dr | Condominium | 1,828 | A |
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| 8951 Lake Dr | Condominium | 1,698 | A |
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| 8951 Lake Dr | Condominium | 1,956 | A |
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| 8951 Lake Dr | Condominium | 1,956 | A |
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| 8951 Lake Dr | Condominium | 1,698 | A |
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| 8931 Lake Dr | Condominium | 1,828 | A |
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| 8931 Lake Dr | Condominium | 1,956 | A |
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| 8931 Lake Dr | Condominium | 1,956 | A |
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| 8941 Lake Dr | Condominium | 1,698 | A |
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Nearest MLS Listings
Nearest properties for sale within 3 miles of this location
| Address | Miles | Sq Ft | Price | |
|---|---|---|---|---|
| 8951 Lake Dr | 0 | 1,698 | $549,900 |
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| 230 Chandler St | .72 | 6,080 | $1,785,000 |
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| 8472 Ridgewood Ave | .72 | 1,589 | $575,000 |
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| 630 Adams Ave | .88 | 8,720 | $5,950,000 |
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| 223 Columbia Dr | 1.08 | 936 | $190,000 |
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| 220 Columbia Dr | 1.08 | 625 | $156,999 |
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| 400 Jackson Ave | 1.12 | 4,368 | $1,320,000 |
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| 203 Taylor Ave | 1.41 | 4,420 | $799,900 |
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| 203 Taylor Ave | 1.41 | 4,420 | $799,900 |
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| 350 Fillmore Ave | 1.43 | 726 | $194,900 |
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| 6992 Atlantic Ave N | 1.65 | 4,800 | $1,300,000 |
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| 6500 Falcon Way | 1.93 | 1,091 | $269,900 |
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| 290 Cape Shores Cir | 1.95 | 6,756 | $4,500,000 |
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| 5807 Banana River Blvd N | 2.38 | 1,315 | $419,000 |
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| 5505 Atlantic Ave N | 2.47 | 6,192 | $900,000 |
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Local Household Income
The median household income in this part of Florida is $72,768. The bottom 10% of the population earn less than $23,880 per year. The top 10% earn more than $187,088 per year. The top 1% earn more than $641,838 per year. Most renters earn between $33,936 (20th percentile) and $61,692 (80th percentile) per year. Someone earning the median household income in this area is likely to qualify for a mortgage between $145,536 and $181,920.
The tax assessed value of this property places it in percentile 76 of all properties in this area. This suggests it would appeal to someone earning around $122,986 per year who should qualify for a mortgage between $245,972 and $307,465.
Source: US Census American Community Survey - 2008-2012 ACS 5-year PUMS estimates
Local Rents
The median monthly rent in this part of Florida is $1,015. Most renters earn between $2,828 and $5,141 per month. They typically spend 31% of their monthly income on rent. Most rents fall in the $738 (20th percentile) to $1,432 (80th percentile) range. The residential vacancy rate is 9%.
This property falls in percentile 76 of all properties in this area. This corresponds to a rent of $1,356 per month and a monthly household income of $4,875 ($58,500 per year)
Nearby Companies
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1000 Shorewood Dr