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    29 Lots Pne Is Rd Merritt Island, FL 32953

    For Sale
    $3,495,000

    66-Acre Commercial/Residential Tract

    Description

    Added:
    Feb 13, 2025
    Days on Market:
    299
    This exceptional 66-acre (2,874,960 square foot) property in Merritt Island, Florida, presents a unique investment opportunity. Located at 29 Lots Pine Island Road, zip code 32953, this expansive land parcel is zoned for both commercial and residential development, offering unparalleled flexibility. Its prime location, just 3.5 miles from Kennedy Space Center, SpaceX, and Blue Origin, ensures high demand and strong potential for return. The proximity to these major employers makes this an ideal site for a residential development targeting high-income professionals. The zoning allows for the construction of custom homes, with building heights potentially reaching two or three stories. This presents a chance to create a prestigious community catering to the needs of a highly sought-after demographic. The property's substantial size allows for a variety of development plans, from luxury single-family homes to mixed-use projects. With its strategic location and versatile zoning, this 66-acre tract is poised for significant growth and offers a compelling investment opportunity in the thriving Brevard County market. The asking price for this remarkable property is $3,495,000. Serious inquiries are encouraged.

    Property Features for 29 Lots Pne Is Rd

    General Information

    Property type
    Land

    HighLights

    • $3,495,000 asking price.
    • 66‑acre land parcel (2,874,960 sq ft).
    • Located in Merritt Island, FL, 32953.
    • Zoned for 29 residential lots.
    • 5 minutes from Kennedy Space Center; 3.5 miles from SpaceX and Blue Origin.
    • Potential for 2‑3 story custom homes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Merritt Island
    County
    Brevard
    State
    Florida
    Longitude
    -80.7151015
    Latitude
    28.4926858

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    FAQs

    What type of property is this?
    Land - 66-Acre Commercial/Residential Tract
    Where is this land located?
    The property is located at 29 Lots Pne Is Rd Merritt Island, FL.
    What is the asking price?
    The asking price for this property is $3,495,000.
    What are key features of this property?
    This property features: $3,495,000 asking price.; 66-acre land parcel (2,874,960 sq ft).; Located in Merritt Island, FL, 32953.
    Request Owner's contact information
    29 Lots Pne Is Rd Merritt Island, FL 32953
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    Merritt Island, FL 32953
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    29 Lots Pne Is Rd Merritt Island, FL 32953
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