15.6 Acres Multi-Family-Up to 234 Units

Vacant Land for Sale
Catylist Listing ID: 30269070
Property Subtypes: Multi-Family, Residential (Single Family), Other
Gross Land Area: 15.60 Acres
Sale Price: $2,200,000
Unit Price: $141,025 Per Acre
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 5/15/2019

Overview / Comments

Zoned R-3 with a future land use of high density residential, this +/- 15.6 acre site can be used to develop up to 234 multi-family units. There are three parcels in this sale. Allowable density is currently 15 units per acre. The current site plan for the 8.6 acre parcel has six buildings with 20 units each; however both properties can be combined to create up to 234 units. The center of each building in the 8.6 acre site plan is three stories and each end is two stories. The footprint works with either two bedrooms in the center and one bedrooms on the ends (12 two bedrooms and 8 one bedrooms) or the reverse (12 one bedrooms and 8 two bedrooms).
Available documents include a site plan, Phase 1 environmental, Topos and habitat surveys. The property is just West of the La Cita Golf & Country Club and East of the Royal Oak Golf Course.
The seller will consider a JV or Seller Financing.

Additional Details

Nearest MSA: Palm Bay-Melbourne-Titusville
County: Brevard
Tax ID/APN: 22-35-16-00-21, 22-35-16-00-5

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,850 36,980 55,643
Median Age: 46.51 43.62 45.38
Households: 3,918 16,016 24,117
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