Living in Florida's Space Coast
MAGNOLIA BAY
Magnolia Bay is the 2006 to 2007 condominium on Julep Avenue where every unit is a three bedroom over 2,100 square feet, all of them waterfront, at about $296 a square foot.
Magnolia Bay In Cocoa Beach, Florida
Magnolia Bay is a waterfront condominium on Julep Avenue in Cocoa Beach, in the 32931 zip code, built across three phases in 2006 and 2007. All eight units that came to market in the last twelve months were waterfront on the river side of the island.
Units run 2,108 to 2,455 square feet with 3 to 3 bedrooms, at about $296 per square foot. The median sale over the last twelve months was $625,000, in a range from $613,000 to $700,000.
Monthly fees run $845 to $875 a month, and the median annual property tax was $7,135. Add those together before you compare this building against another on sale price alone, because the monthly picture is not what the list price suggests.
Two things make this building unusual for Cocoa Beach. Every unit is a three bedroom over 2,100 square feet, so there is no small product here. And at about $296 per square foot it is one of the least expensive waterfront buildings in the city per foot, largely because it faces the river rather than the ocean.
Magnolia Bay At A Glance
From the last twelve months of activity at Magnolia Bay.
| Detail | What you get |
|---|---|
| Housing type | Condominium |
| Unit size | Roughly 2,108 to 2,455 square feet |
| Bedrooms | 3 to 3 |
| Year built | 2006 to 2007 |
| Median sold price | $625,000 |
| Sold price range | $613,000 to $700,000 |
| Price per square foot | About $296 median |
| Condo fee | $845 to $875 a month |
| Waterfront | 8 of 8 recent listings |
| Property tax | About $7,135 median annual |
| Days on market | 98 days median, at about 95 percent of original asking price |
| Location | Julep Avenue, Cocoa Beach |
Magnolia Bay Costs, Honestly
On a condominium the fee is only the first of three questions that decide what you actually pay.
Monthly Fee
$845 to $875 a month$845 to $875 a month through Magnolia Bay Condominium Association of Brevard. On a building from 2006 and 2007 the structural questions are far less pressing than in the 1970s and 1980s towers, though the reserve study is still worth reading.
Milestone Inspection And Reserves
Ask before you offerFlorida requires milestone inspections and structural integrity reserve studies for older multi story condominium buildings, and the findings drive both reserve funding and the odds of a special assessment. We request the milestone status, the reserve study and the last two years of board minutes before you go under contract.
Moderate Negotiating Room
About 95 percent of original listA 98 day median with closings near 95 percent of asking. Enough room for a considered offer, not enough to lowball.
Magnolia Bay Features
Every Unit Waterfront
All eight recent listings were waterfront on the river side of the island.
Built 2006 To 2007
One of the newest condominium buildings in Cocoa Beach, well inside current construction standards.
Three Bedrooms Only
Every unit is a three bedroom over 2,100 square feet. There is no smaller product in this building.
Best Value Per Foot On The Water
About $296 per square foot, low for a waterfront Cocoa Beach building.
Tight Price Band
Sales ran $613,000 to $700,000, an unusually narrow range that makes pricing straightforward.
Time To Decide
A 98 day median on market, so there is no pressure to move same day.
Condos For Sale At Magnolia Bay
Live MLS listings filtered to Magnolia Bay. This is a single building, so the list is short by definition and turnover is what drives it.
Magnolia Bay Frequently Asked Questions
What are the condo fees at Magnolia Bay?
$845 to $875 a month. We review the budget, the reserve study and the milestone inspection status before you commit.
How much do units sell for at Magnolia Bay?
The median closed price over the last twelve months was $625,000, in a range from $613,000 to $700,000, at about $296 per square foot.
How big are the units at Magnolia Bay?
Roughly 2,108 to 2,455 square feet with 3 to 3 bedrooms.
When was Magnolia Bay built?
In 2006 and 2007 across three phases, making it one of the newest condominium buildings in Cocoa Beach.
Julep Avenue, Cocoa Beach
Magnolia Bay sits on Julep Avenue in Cocoa Beach, in the 32931 zip code, on the river side of the island.
The Atlantic beaches are a short drive east across the island. A1A runs north to Cape Canaveral and Port Canaveral and south toward Patrick Space Force Base, with the pier and downtown Cocoa Beach a short drive and SR 520 crossing the causeway west toward I-95.
Near Magnolia Bay In Cocoa Beach
Considering Magnolia Bay?
If Magnolia Bay is on your list, my partner Nichole and I are the agents to call. We sell Cocoa Beach every week, we know these buildings and these streets, and we will tell you straight whether a place is priced right. Reach out anytime at (321) 212-7676.
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