$4,750,000
$1M PRICE DROP

Estimated payment $28,122/month

Total Views 5,325
8 Beds
8 Baths
6,857 Sq Ft
$693 Price per Sq Ft

Highlights

  • Beach View
  • RV Access or Parking
  • No HOA
  • Gemini Elementary School Rated A-
  • 1.53 Acre Lot
  • Cooling System Mounted To A Wall/Window

About This Home

$500,000 Price Improvement - Exceptional Oceanfront Development OpportunityIncredible opportunity to acquire 1.53 acres of direct oceanfront commercial property at a significantly reduced price. This is one of the most valuable and versatile parcels available on the coast.Zoned commercial with daily rental allowed, the property is ideal for a wide range of high-impact uses. Build a boutique resort, a luxury short-term rental compound, an oceanfront wedding and event venue, or a signature restaurant with unmatched views. The zoning supports retail, hospitality, and mixed-use concepts, making it a truly flexible asset.The land offers direct beach access and sweeping ocean views. Its size, zoning, and location make it nearly impossible to replicate in today's market.With a $500,000 price improvement, this is a serious value-add opportunity for developers, hospitality groups, or investors looking for a 1031 exchange or long-term hold.

Listing Agent

Michael DeAngelo

Salt Water Realty of Brevard License #3608671 Listed on: 02/04/2025

Co-Listing Agent

Ken DeAngelo

Salt Water Realty of Brevard License #3597193

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $17,499

Year Built

  • Built in 1958

Lot Details

  • 1.53 Acre Lot
  • Property fronts a highway
  • East Facing Home

Parking

  • 2 Car Garage
  • Shared Driveway
  • Additional Parking
  • RV Access or Parking

Home Design

  • Metal Roof
  • Concrete Siding
  • Block Exterior
  • Asphalt

Interior Spaces

  • 6,857 Sq Ft Home
  • 2-Story Property
  • Tile Flooring
  • Beach Views
  • Stacked Washer and Dryer

Kitchen

  • Electric Oven
  • Microwave

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Full Bathrooms

Schools

  • Gemini Elementary School
  • Hoover Middle School
  • Melbourne High School

Utilities

  • Cooling System Mounted To A Wall/Window
  • Central Air
  • Heating Available
  • Shared Well
  • Well
  • Water Softener is Owned
  • Septic Tank
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 29-38-14-Gz-00004.0-0015.00

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 10 Units
  • Melbourne Shores 1St Addn Subdivision

Additional Features

  • Laundry Facilities
  • Gross Income $216,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$17,499

Year Built

Built in 1958

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential Income
  • Year Built: 1958
  • Reso Property Sub Type: Multi Family
  • ResoLaundryFeatures: Common Area
  • Road Frontage Type: Highway
  • Road Surface Type: Asphalt, Paved
  • Reso View: Beach, Water
  • Reso Association Amenities: Management - Off Site, Management - On Site
  • Co List Office Mls Id: swrb0
  • Co List Office Phone: 321-720-0409
  • ResoSpecialListingConditions: Owner Licensed RE
  • Subdivision Name: Melbourne Shores 1st Addn
  • Carport Y N: No
  • Garage Yn: Yes
  • New Construction: No
  • Appliances Microwave: Yes
  • Appliances Refrigerators: Yes
  • Cooling:Electric: Yes
  • Appliances Dryer: Yes
  • Washers: Yes
  • Gross Scheduled Income: 216000.0
  • Laundry Features Common Area2: Yes
  • General Property Information:Pool Private YN: No
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Tile
  • Appliances: Dryer, Electric Oven, Microwave, Refrigerator, Washer, Washer/Dryer Stacked, Water Softener Owned
  • Full Bathrooms: 8
  • Total Bedrooms: 8
  • Stories: 2
  • Appliances:Water Softener-Owned: Yes
  • Appliances:Electric Oven: Yes
  • Appliances:WasherDryer Stacked: Yes

Exterior Features

  • Roof: Metal, Other
  • Acres: 1.53
  • Pool Private: No
  • Construction Type: Block, Concrete
  • Direction Faces: East
  • Construction Materials:Block2: Yes
  • Construction Materials:Concrete4: Yes
  • ConstructionSiding:Roof Metal: Yes

Garage/Parking

  • Attached Garage: No
  • Garage Spaces: 2.0
  • Parking Features: Additional Parking, Garage, RV Access/Parking, Shared Driveway
  • Total Parking Spaces: 38.0
  • General Property Information:Garage YN: Yes
  • General Property Information:Garage Spaces: 2.0
  • Parking Features:Additional Parking: Yes
  • Parking Features:Garage: Yes
  • Parking Features:RV AccessParking: Yes
  • General Property Information:Parking Total: 38.0
  • Parking Features:Shared Driveway: Yes

Utilities

  • Cooling: Central Air, Electric, Wall/Window Unit(s)
  • Utilities: Cable Available
  • Heating: Electric, Varies by Unit, Other
  • Cooling Y N: Yes
  • HeatingYN: Yes
  • Water Source: Shared Well, Well
  • Heating:Electric3: Yes
  • Sewer Septic Tank: Yes
  • Heating:Varies by Unit2: Yes

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Association/Amenities

  • General Property Information:Association YN: No

Schools

  • Middle Or Junior School: Hoover

Lot Info

  • Current Use: Commercial, Hotel/Motel, Office
  • Lot Size Sq Ft: 66646.8
  • ResoLotSizeUnits: Acres
  • Additional Parcels Description: 2954024
  • Parcel #: 29-38-14-Gz-00004.0-0015.00
  • Zoning Description: Commercial/Residential/Office

Rental Info

  • Furnished: Partially

Tax Info

  • Tax Year: 2023
  • Tax Annual Amount: 17499.1

Multi Family

  • Number Of Units Total: 10
  • Income Includes: ["Rent Only"]

MLS Schools

  • Elementary School: Gemini
  • High School: Melbourne

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/15/2025 04/15/25 Price Changed $4,750,000 -9.5% $693 / Sq Ft
02/04/2025 02/04/25 For Sale $5,250,000 0.0% $766 / Sq Ft
02/02/2025 02/02/25 Off Market $5,250,000 -- --
02/02/2025 02/02/25 For Sale $5,250,000 0.0% $766 / Sq Ft
01/02/2025 01/02/25 Off Market $5,250,000 -- --
12/12/2024 12/12/24 Price Changed $5,250,000 +1.0% $766 / Sq Ft
12/05/2024 12/05/24 Price Changed $5,200,000 -1.9% $758 / Sq Ft
11/09/2024 11/09/24 Price Changed $5,300,000 -2.8% $773 / Sq Ft
09/17/2024 09/17/24 Price Changed $5,450,000 -3.5% $795 / Sq Ft
06/17/2024 06/17/24 Price Changed $5,649,000 -2.6% $824 / Sq Ft
04/09/2024 04/09/24 For Sale $5,799,000 -- $846 / Sq Ft
Source: Space Coast MLS (Space Coast Association of REALTORS®)

Source: Space Coast MLS (Space Coast Association of REALTORS®)

MLS Number: 1010359

Space Coast MLS (Space Coast Association of REALTORS®)