Oceanfront in most of Florida means seven figures. On the Space Coast it does not have to. Twenty-five buildings across Cocoa Beach and Cape Canaveral closed oceanfront units in the last year, and the lowest median in the group was $410,000. Here is the entire ladder, from the bottom rung up.
Oceanfront Under $550,000
| Building | City | Median close | Median monthly fee |
|---|---|---|---|
| Sea Oats | Cocoa Beach | $410,000 | $700 |
| Cocoa Beach Club | Cocoa Beach | $425,000 | $878 |
| Shorewood | Cape Canaveral | $445,000 | $825 |
| Canaveral Towers | Cape Canaveral | $463,000 | $1,085 |
| Avon by the Sea | Cocoa Beach | $470,000 | $855 |
| Hacienda Del Mar | Cocoa Beach | $485,000 | $962 |
| Windward East | Cocoa Beach | $505,000 | $980 |
| The Villages of Seaport | Cape Canaveral | $512,000 | $1,111 |
| Waters Edge | Cocoa Beach | $540,000 | $895 |
| Spanish Main | Cocoa Beach | $545,000 | $665 |
| Royale Towers | Cocoa Beach | $548,750 | $782 |
The Number Under The Number
Purchase price is only half of what oceanfront costs you here. Sea Oats closed lowest at $410,000 and also carries one of the lightest fees on the list at $700 a month. Spanish Main is the other one worth circling, at $545,000 with a $665 fee, which is the cheapest monthly carry of any oceanfront building in either city. Canaveral Towers goes the other direction: it closed $82,000 cheaper than Royale Towers but costs $300 a month more to hold. Over ten years that is $36,000, and the cheaper purchase stops being cheaper.
Where Sellers Moved The Most
Canaveral Towers closed at 84.2 percent of original list, the softest oceanfront ratio in either city. Windward East ran 90.6 percent and Boardwalk 91.0 percent. On the other end, The Villages of Seaport held 96.2 percent and Spanish Main 96.5 percent, so the low fee at Spanish Main is not a secret and you should not expect to talk anyone down there.
Cape Canaveral Versus Cocoa Beach On Oceanfront
Cape Canaveral has four oceanfront buildings under $550,000 and Cocoa Beach has seven, so the count favors Cocoa Beach, but the Cape buildings tend to be newer. The Villages of Seaport and Solana on the River were built in the mid-2000s. Shorewood dates to the late 1990s. On the Cocoa Beach side, Sea Oats, Cocoa Beach Club and Avon by the Sea are older buildings, which is exactly why they price lower and exactly why the milestone inspection and reserve study paperwork matters more there.
Read The Reserve Study Before The Listing Photos
Florida now requires milestone inspections and structural integrity reserve studies for older condo buildings of three stories or more, and the results of both are the single biggest variable in what an oceanfront unit really costs you. A building that has completed its study and funded its reserves is worth paying more for than one that has not. I pull the association documents, the last two years of meeting minutes, and any special assessment history before you go under contract, and on a few buildings that paperwork is the reason I have told buyers to walk.
Thinking About The Beach?
Cocoa Beach is mine and Cape Canaveral is my partner Nichole Barna’s, and between us we cover the whole stretch. Reach out at (321) 212-7676 or www.livingspacecoast.com and we will get you to the right one of us.
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