At $265K you're buying well below the current median condo price in Cocoa Beach ($375K–$412K), which signals either strong value or that this 1964 unit needs serious inspection—reserve contributions and potential structural work on a 60-year-old waterfront building are real costs to factor in. The waterfront location is the genuine asset here, but the $325/sqft price is only attractive if the condo's financials are sound and the building's reserve fund is adequate; with no HOA mentioned (which seems like a data gap for a condo), you'll need to dig hard into what the actual assessment structure is before committing.

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