Are Cocoa Beach Condos Still a Good Investment After SB 4-D? The Numbers + Named Buildings to Know in 2026 By Carrie Liotta, Space Coast REALTOR® | May 23, 2026 Quick Answer: Cocoa Beach condos can still be a solid investment in 2026, but you need to know the building before you buy. SB 4-D (Florida’s landmark 2022 condo safety law, updated by SB 154 and HB 913) has separated the market into two tiers: compliant buildings with clean financials — still generating strong rental income and appreciation — and older, under-reserved buildings carrying six-figure special assessment risk. The difference between a great deal and a financial trap often comes down to three documents. Here’s how to tell them apart. What Is SB 4-D and Why Does It Change the Math on Condo Investing? On May 26, 2022, Florida passed Senate Bill 4-D — the most sweeping condo safety overhaul in state history. It came directly out of the 2021 Champlain Towers South collapse in Surfside, which killed 98 people and exposed decades of deferred maintenance and underfunded reserves that HOA boards had been quietly voting to skip for years. Here’s what SB 4-D now requires for any residential condo or co-op building three stories or taller: Milestone Structural Inspections: Required at 25 years of age for coastal buildings (30 years inland), then every 10 years. A licensed Florida engineer must certify the building is structurally sound. Structural Integrity Reserve Study (SIRS): A professional assessment of every major structural component — roof, load-bearing walls, foundation, plumbing, electrical — with a dollar amount attached to each. Associations had until December 31, 2025 to complete their first SIRS. No More Reserve Waivers: Effective December 31, 2024, HOA boards can no longer vote to reduce or skip reserve contributions. Full funding is now mandatory. Disclosure Requirements: Under Florida Statute 718.504, sellers must provide milestone inspection reports, SIRS documentation, and any pending or completed special assessments to buyers — no exceptions. The law was updated in 2023 by SB 154 and refined again by HB 913 (effective July 1, 2025) and SB 328 (signed June 2025), which gave some associations administrative breathing room on timelines without relaxing the safety core. Fines for non-compliance run up to $5,000 per violation from the Florida DBPR, and board members face personal liability for willful non-compliance. Bottom line for investors: the days of buying any Cocoa Beach condo at a low price and hoping the HOA doesn’t surprise you are over. The financials are now required to be on the table before you close. The Two-Tier Cocoa Beach Condo Market in 2026 The market data tells a clear story. As of early 2026, there are roughly 300+ condo units for sale in Cocoa Beach and Cape Canaveral, priced between $59,000 and $1,490,000, with a median asking price around $347,000. But that wide range reflects two completely different investment profiles — not just unit size or location. Tier 1: New and Newly Compliant Buildings (Strong Buys) Buildings built since 2000 — or older buildings that have completed their SIRS, passed milestone inspections, and are fully funded on reserves — represent the investment-grade tier of this market. These are the condos where the known liabilities are accounted for, HOA fees have already adjusted to the new reserve requirements, and there are no hidden financial bombs waiting to go off. The Surf, the new luxury building in downtown Cocoa Beach, is the clearest example. Completed in 2025, it generated 21 closings in a single year and a penthouse sale that set the 2025 Cocoa Beach price record. New construction buyers here know exactly what they’re getting into — the SIRS is baked in from day one, and the HOA is structured around compliance from the start. Other well-maintained, professionally managed mid-rise buildings on or near the A1A beachfront — particularly those that completed voluntary SIRS early and have consistent HOA documentation — are also attracting serious investor attention, precisely because the uncertainty is priced out. Tier 2: Older Buildings With Deferred Maintenance Risk (Buyer Beware) This is where I’ve seen deals go sideways. Older oceanfront buildings — those built in the 1960s through 1980s — that spent years waiving or reducing reserve contributions are now staring down the cost of compliance all at once. The numbers can be shocking. Special assessments triggered by SIRS findings have ranged from $10,000 to over $100,000 per unit at some Florida buildings. Buyers who purchased before seeing the SIRS results at some of these buildings found themselves immediately on the hook for assessments they never anticipated. That’s why I always tell clients: the purchase price is only part of the equation. The SIRS is the other part. Buildings in this tier often show up in search results at eye-catching low prices — sometimes $100,000–$200,000 below comparable units in compliant buildings. That discount might look like a bargain. It often isn’t. It’s the market pricing in the known (and unknown) liability. “Carrie is a true professional and an absolute powerhouse — she got our house sold! From the start, her approach was impressive — the photography, video tour and social media outreach were outstanding, leading to multiple offers in a down market. She committed to frequent open houses to maximize exposure for our Cocoa, FL home. Crucially, she was an absolute rock when it came to managing the multiple hurdles with various offers. She kept us informed every step of the way, worked hard to resolve issues with buyers, and her patience with everyone involved was remarkable. We had a great experience and a successful closing thanks to her hard work!” — ⭐⭐⭐⭐⭐ Verified Google Review, Cocoa, FL The 3 Documents Every Cocoa Beach Condo Buyer Must Review Before Making an Offer Florida Statute 718.504 now requires sellers to provide these — but you should request them before you even submit an offer: 1. The Structural Integrity Reserve Study (SIRS) This tells you what the building’s structural components are worth, what their remaining useful life