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    5405 Freedom Ln Merritt Island, FL 32952

    For Sale
    $1,400,000

    1.6-Acre Waterfront Lot, Build Your Dream Home

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 1.6-acre lot, located at 5405 Freedom Lane in Merritt Island, Florida (zip code 32952), presents a unique opportunity for development. Boasting 69,696 square feet of land, this property offers over 160 feet of direct frontage on the Indian River. Situated on a private road just off the historic South Tropical Trail, it provides a tranquil setting with abundant natural beauty, including mature palms, oak trees, and towering bamboo. A current survey is available. The partially cleared lot allows for immediate development, and the property includes a private boat ramp, enhancing its recreational appeal. Conveniently located between State Road 520 and the Pineda Causeway, this location provides easy access to beaches, Port Canaveral, NASA, and Interstate 95. Enjoy breathtaking nightly sunsets and the quintessential "Old Florida" charm. This is a rare chance to build a custom home in a highly desirable waterfront location. The property is zoned for both commercial and residential use. This prime riverfront property offers unparalleled privacy and an idyllic lifestyle. Don't miss this extraordinary opportunity to create your dream home in this sought-after area of South Merritt Island. The asking price is $1,400,000.

    Property Features for 5405 Freedom Ln

    General Information

    Property type
    Land

    HighLights

    • 1.6‑acre lot (69,696 sq ft) at 5405 Freedom Lane, Merritt Island, FL 32952.
    • Over 160 feet of Indian River frontage on a private road off South Tropical Trail.
    • Partially cleared lot with private boat ramp, ready for immediate development.
    • Convenient access to SR 520, Pineda Causeway, beaches, Port Canaveral, NASA, and I‑95.
    • Zoned for commercial and residential use; asking price $1,400,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Spa & Massage Dental Office Accounting Firm Garden Center Carpet & Flooring Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Merritt Island
    County
    Brevard
    State
    Florida
    Longitude
    -80.66705
    Latitude
    28.260973

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    FAQs

    What type of property is this?
    Land - 1.6-Acre Waterfront Lot, Build Your Dream Home
    Where is this land located?
    The property is located at 5405 Freedom Ln Merritt Island, FL.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: 1.6-acre lot (69,696 sq ft) at 5405 Freedom Lane, Merritt Island, FL 32952.; Over 160 feet of Indian River frontage on a private road off South Tropical Trail.; Partially cleared lot with private boat ramp, ready for immediate development.
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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
    5405 Freedom Ln Merritt Island, FL 32952
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