Cape Canaveral, Florida
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:
Cape Canaveral is located in Brevard County. It has a population of approximately 9,912 people. The population increased 0.1% from 2010 to 2012. This compared to a 2.7% increase for the State of Florida, 0.7% for Brevard County and a 1.7% increase for the country as a whole. Cape Canaveral occupies 2.33 of the 1015.66 square miles in Brevard County. It had a population density of 4254.1 persons per square mile in 2010. This compared to 535 for the county, 350.6 for Florida and 87.4 for the country.
3.1% ( 8,295) of the 270,512 housing units in Brevard County are in Cape Canaveral (a housing unit is defined by the US Census Bureau as a house, apartment, mobile home, group of rooms, or single room that is occupied as separate living quarters.) Cape Canaveral has a 54.5% homeownership rate compared to Brevard County's 75.3% homeownership rate and Florida's rate of 69.0%.
| Region | Population 2010 | Economic Activity 2007 (Millions) | Population Growth 2010 to 2012 | Median Household Income 2011 | Housing Units | Median Price 2007 to 2011 |
|---|---|---|---|---|---|---|
| United States | 313,914,040 | $14,025,202 | 1.7% | $52,762 | 132,312,404 | $186,200 |
| Florida | 18,801,310 | $630,738 | 2.7% | $47,827 | 9,026,965 | $188,600 |
| Brevard County | 543,376 | $16,070 | 0.7% | $50,068 | 270,512 | $171,200 |
| Cape Canaveral | 9,912 | $166 | 0.1% | $43,888 | 8,295 | $203,800 |
Cape Canaveral's medium household income in 2011 was $43,888. Brevard County's medium household income was $50,068, which is higher than the medium income for Florida as a whole: $47,827. 14.0% of the population in Cape Canaveral lives below the poverty line, compared to 14.7% in Florida, 11.2% of the population in Brevard County and 14.3% nationwide. Additional Information:
Cape Canaveral Economic Activity
The U.S. Bureau of the Census, Economic Census, 2007 calculated the total value manufacturing, merchant wholesaler, retail sales and food service sales in Cape Canaveral. The Census measured activity of large and medium-sized firms during calendar year 2007. It does not include every aspect of the economy but can be used as a measure of economic activity.
At $166 million, Cape Canaveral's economic activity represents 1.03% of Brevard County's $16,070MM in economic activity. Brevard County represents 2.55% of the Florida economy.
| Activity | Value (Millions) | Percentage |
|---|---|---|
| Manufacturers shipments | $0 | 0.0% |
| Merchant wholesaler sales | $69 | 41.8% |
| Retail sales | $68 | 41.3% |
| Accommodation and food services sales | $28 | 16.9% |
| Total | $166 | 100% |
Brevard County Regional Comparisons
| City | Population 2010 | Economic Activity 2007 (Millions) | Population Growth 2010 to 2012 | Median Household Income 2011 | Housing Units | Median Price 2007 to 2011 |
|---|---|---|---|---|---|---|
| Cape Canaveral | 9,912 | $166 | 0.1% | $43,888 | 8,295 | $203,800 |
| Cocoa | 17,140 | $725 | 0.5% | $33,411 | 8,603 | $128,500 |
| Cocoa Beach | 11,231 | $264 | 0.3% | $53,951 | 8,866 | $295,700 |
| Melbourne | 76,068 | $5,321 | 1.1% | $42,089 | 38,955 | $153,400 |
| Merritt Island | 34,743 | $964 | X | $58,528 | 17,036 | $215,700 |
| Mims | 7,058 | $20 | X | $47,161 | 3,530 | $130,900 |
| Palm Bay | 103,190 | $3,806 | 0.9% | $44,768 | 45,220 | $138,600 |
| Palm Bay | 103,190 | $3,806 | 0.9% | $44,768 | 45,220 | $138,600 |
| Rockledge | 24,926 | $495 | 2.0% | $57,835 | 11,240 | $173,900 |
| Satellite Beach | 10,109 | $68 | 1.4% | $60,870 | 4,953 | $238,000 |
| Titusville | 43,761 | $811 | 0.4% | $44,148 | 22,729 | $140,700 |
Brevard County is located in East Central Florida. This region is responsible for 17.0% of Florida's economic activity. Brevard County represents 15.0% of the region's economy.
| Region | Population 2010 | Economic Activity 2007 (Millions) | Population Growth 2010 to 2012 | Median Household Income 2011 | Housing Units | Median Price 2007 to 2011 |
|---|---|---|---|---|---|---|
| Brevard County | 543,376 | $16,070 | 0.7% | $50,068 | 270,512 | $171,200 |
| Osceola County | 268,685 | $7,448 | 7.0% | $46,479 | 129,830 | $170,200 |
| Orange County | 1,145,956 | $53,843 | 4.9% | $49,731 | 492,209 | $211,100 |
| Seminole County | 422,718 | $12,124 | 1.9% | $58,908 | 182,625 | $225,500 |
| Lake County | 297,052 | $5,430 | 2.1% | $47,509 | 145,303 | $167,900 |
| Volusia County | 494,593 | $10,951 | 0.5% | $44,169 | 254,981 | $172,100 |
| Sumter County | 93,420 | $1,120 | 8.8% | $44,817 | 55,988 | $186,800 |
| Total | 3,369,551 | $106,985 | 3.7% | $48,812 | 1,531,448 | $186,400 |
Cape Canaveral Real Estate
There are 8,398 properties in Cape Canaveral. The following table shows a summary of them based on 2014 sales data.
| Usage Type | Property Count | % | Sales Count | Median Price | Median Price/Ft | Sales From | To |
|---|---|---|---|---|---|---|---|
| Commercial Property | 0 | 0.00 | 0 | n/a | n/a | n/a | n/a |
| Government Property | 225 | 2.68 | 0 | n/a | n/a | n/a | n/a |
| Hotel & Motel | 6 | 0.07 | 0 | n/a | n/a | n/a | n/a |
| Industrial | 173 | 2.06 | 1 | $68,500 | $58 | April 1st, 2014 | April 1st, 2014 |
| Mobile/Manufactured | 243 | 2.89 | 0 | n/a | n/a | n/a | n/a |
| Multifamily | 381 | 4.54 | 20 | $233,000 | $102 | January 1st, 2014 | July 1st, 2014 |
| Office | 100 | 1.19 | 16 | $119,950 | $93 | January 1st, 2014 | August 1st, 2014 |
| Residential | 6,945 | 82.70 | 336 | $149,900 | $115 | January 1st, 2014 | August 1st, 2014 |
| Residential Property | 0 | 0.00 | 0 | n/a | n/a | n/a | n/a |
| Retail | 148 | 1.76 | 6 | $62,500 | $71 | February 1st, 2014 | June 1st, 2014 |
| Special Purpose | 9 | 0.11 | 0 | n/a | n/a | n/a | n/a |
| Sports & Entertaining | 168 | 2.00 | 0 | n/a | n/a | n/a | n/a |
Commercial Real Estate in Cape Canaveral, Florida
0( .00%) of the properties in Cape Canaveral are classified as Commercial.
Government Real Estate in Cape Canaveral, Florida
225( 2.68%) of the properties in Cape Canaveral are classified as Government.
Hotel & Motel Real Estate in Cape Canaveral, Florida
6( .07%) of the properties in Cape Canaveral are classified as Hotel & Motel.
Industrial Real Estate in Cape Canaveral, Florida
173( 2.06%) of the properties in Cape Canaveral are classified as Industrial. 1 of them sold between April 1st, 2014 and April 1st, 2014. The total value of these sales was $68,500. The median sales price was $68,500. In 2014 the median sales price for Industrial in Cape Canaveral was $58 per sq ft.
Mobile/Manufactured Real Estate in Cape Canaveral, Florida
243( 2.89%) of the properties in Cape Canaveral are classified as Mobile/Manufactured.
Multifamily Real Estate in Cape Canaveral, Florida
381( 4.54%) of the properties in Cape Canaveral are classified as Multifamily. 20 of them sold between January 1st, 2014 and July 1st, 2014. The total value of these sales was $4,524,000. The median sales price was $233,000. In 2014 the median sales price for A Class Multifamily in Cape Canaveral was $148 per sq ft, B Class properties sold for $102/ft and C Class $56/ft.
Office Real Estate in Cape Canaveral, Florida
100( 1.19%) of the properties in Cape Canaveral are classified as Office. 16 of them sold between January 1st, 2014 and August 1st, 2014. The total value of these sales was $4,145,800. The median sales price was $119,950. In 2014 the median sales price for Office in Cape Canaveral was $93 per sq ft.
Residential Real Estate in Cape Canaveral, Florida
6,945( 82.70%) of the properties in Cape Canaveral are classified as Residential. 336 of them sold between January 1st, 2014 and August 1st, 2014. The total value of these sales was $94,143,914. The median sales price was $149,900. In 2014 the median sales price for A Class Residential in Cape Canaveral was $189 per sq ft, B Class properties sold for $115/ft and C Class $69/ft.
Residential Real Estate in Cape Canaveral, Florida
0( .00%) of the properties in Cape Canaveral are classified as Residential.
Retail Real Estate in Cape Canaveral, Florida
148( 1.76%) of the properties in Cape Canaveral are classified as Retail. 6 of them sold between February 1st, 2014 and June 1st, 2014. The total value of these sales was $557,000. The median sales price was $62,500. In 2014 the median sales price for Retail in Cape Canaveral was $71 per sq ft.
Special Purpose Real Estate in Cape Canaveral, Florida
9( .11%) of the properties in Cape Canaveral are classified as Special Purpose.
Sports & Entertaining Real Estate in Cape Canaveral, Florida
168( 2.00%) of the properties in Cape Canaveral are classified as Sports & Entertaining.
Cape Canaveral, Brevard County Market Data
| Property Usage | Property Count | Total Sq Ft |
|---|---|---|
| Government Property | 223 | 16,791,296 |
| Hotel & Motel | 3 | 389,324 |
| Industrial | 107 | 2,984,656 |
| Land | 413 | 327,517 |
| Mobile/Manufactured | 10 | 7,165 |
| Multifamily | 369 | 3,005,410 |
| Office | 69 | 957,537 |
| Residential | 6,592 | 8,543,786 |
| Retail | 124 | 1,184,740 |
| Special Purpose | 9 | 46,194 |
| Sports & Entertaining | 86 | 69,476 |
Cape Canaveral Median Property Values per Sq Ft
| Property Class | Class A | Class B | Class C | ||||
|---|---|---|---|---|---|---|---|
| Usage | Year | Sale | Lease | Sale | Lease | Sale | Lease |
| Camp | 2016 | $212 | $76 | $99 | $76 | $44 | $76 |
| Auto sales, auto repair and storage or auto service shop | 2016 | $212 | $19 | $99 | $12 | $44 | $8 |
| Cannery, fruit and vegetable, bottler or brewers, distillery or winery | 2016 | $212 | $8 | $99 | $6 | $44 | $2 |
| Church | 2016 | $212 | $24 | $99 | $12 | $44 | $7 |
| Club, lodge or union hall | 2016 | $212 | $24 | $99 | $12 | $44 | $7 |
| Condominium | 2016 | $200 | $16 | $124 | $16 | $90 | $16 |
| Condominium Unit | 2016 | $208 | $16 | $142 | $16 | $48 | $16 |
| County Owned | 2016 | $108 | $32 | $30 | $12 | $15 | $4 |
| Federal Owned | 2016 | $108 | $32 | $30 | $12 | $15 | $4 |
| Financial institution (bank, saving and loan company, mortgage company, credit services) | 2016 | $212 | $19 | $99 | $12 | $44 | $8 |
| Government Undefined | 2016 | $212 | $32 | $99 | $12 | $44 | $4 |
| Hotel or motel | 2016 | $212 | $33 | $99 | $33 | $44 | $33 |
| Improved Commercial Common Area | 2016 | $208 | $24 | $142 | $12 | $48 | $7 |
| Light manufacturing | 2016 | $212 | $8 | $99 | $6 | $44 | $2 |
| Low Rise Apartments- 10 To 49 Units- 2 Or 3 Stories | 2016 | $208 | $17 | $142 | $14 | $48 | $11 |
| Military | 2016 | $212 | $32 | $99 | $12 | $44 | $4 |
| Mixed use - store and office or store and residential or residential combination | 2016 | $212 | $19 | $99 | $12 | $44 | $8 |
| Mobile Home | 2016 | $85 | $6 | $55 | $6 | $30 | $6 |
| Multi-family - 10 units or more | 2016 | $85 | $17 | $55 | $14 | $30 | $11 |
| Multi-family - less than 10 units | 2016 | $124 | $17 | $59 | $14 | $59 | $11 |
| Municipal Owned | 2016 | $108 | $32 | $30 | $12 | $15 | $4 |
| Nightclub, cocktail lounge or bar | 2016 | $212 | $76 | $99 | $76 | $44 | $76 |
| Office building, non-professional service building, multi-story | 2016 | $212 | $10 | $99 | $10 | $44 | $9 |
| Office building, non-professional service building, one story | 2016 | $212 | $10 | $99 | $10 | $44 | $9 |
| Open storage (building supplies, auto wrecking, fuel, equipment or material storage) | 2016 | $212 | $8 | $99 | $6 | $44 | $2 |
| Professional service building | 2016 | $212 | $10 | $99 | $10 | $44 | $9 |
| Public county school | 2016 | $212 | $32 | $99 | $12 | $44 | $4 |
| Race track: horse, auto or dog | 2016 | $212 | $76 | $99 | $76 | $44 | $76 |
| Repair service shop (excluding automotive) | 2016 | $212 | $19 | $99 | $12 | $44 | $8 |
| Restaurant, cafeteria | 2016 | $212 | $19 | $99 | $12 | $44 | $8 |
| Service station | 2016 | $212 | $19 | $99 | $12 | $44 | $8 |
| Single Family | 2016 | $210 | $16 | $147 | $16 | $98 | $16 |
| Store, one story | 2016 | $212 | $19 | $99 | $12 | $44 | $8 |
| Tourist attraction, permanent exhibit or other entertainment facilities | 2016 | $212 | $76 | $99 | $76 | $44 | $76 |
| Two Or More Townhouses | 2016 | $208 | $16 | $142 | $16 | $48 | $16 |
| Undefined - Reserved for Use by Department of Revenue | 2016 | $124 | $16 | $59 | $16 | $59 | $16 |
| Warehousing, distribution terminal, trucking terminal, or van and storage warehousing | 2016 | $212 | $8 | $99 | $6 | $44 | $2 |