Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    2918 Pineapple Ave Melbourne, FL 32935

    For Sale
    $999,900

    1.5-Acre Waterfront Property, Multifamily Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 1.5-acre waterfront property, located at 2918 Pineapple Avenue in Melbourne, Florida, presents a unique investment opportunity. The 65,340 square foot lot sits on the Indian River, offering breathtaking waterfront views and significant development potential. The property is zoned to allow for the construction of a multifamily development, potentially accommodating up to 13 units, or alternatively, several single-family homes. The site's prime location provides convenient access to nearby beaches and the vibrant Eau Gallie Arts District, known for its diverse cultural attractions and dining options. City sewer and water services are readily available along Pineapple Avenue, simplifying infrastructure needs. The seller is open to exploring joint venture partnerships or owner financing options, making this an attractive proposition for various investment strategies. This property offers a rare chance to create a thriving waterfront community, catering to either multifamily or single-family residential needs, in a highly desirable location. The combination of waterfront access, convenient location, and flexible ownership options makes this a truly exceptional investment opportunity. The property is classified as Commercial, Apartment Building, and Residential, and is a Duplex/Triplex/Quadruplex type. The asking price is $999,900.

    Property Features for 2918 Pineapple Ave

    General Information

    Property type
    Multifamily properties

    HighLights

    • $999,900 asking price.
    • 1.5‑acre waterfront lot (65,340 sq ft) in Melbourne, FL.
    • Multifamily development potential (13 units) or single‑family home construction.
    • City sewer and water available.
    • Minutes from beaches and Eau Gallie Arts District.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.639312
    Latitude
    28.154367

    Nearby Similar for Sale

    • $757,997
      1,823 SF

      Historic Home in Arts District

      Restored 1928 home near Eau Gallie Arts District.
      1248 Highland Ave, Melbourne, FL 32935
      View Details
    • $545,000
      2,252 SF

      High-Income Multifamily Property in Melbourne

      Three-unit multifamily property with strong income potential in a prime location.
      158 Ct West, Melbourne, FL 32904
      View Details
    • $489,000
      2.51 Acres

      Equestrian Estate with Six-Stall Barn

      2.5-acre equestrian estate featuring a six-stall barn and updated utilities.
      3900 Miami Ave, Melbourne, FL 32904
      View Details
    • $1,700,000
      9,000 SF

      Historic Landmark in Downtown Melbourne

      9000 sq ft historic property with redevelopment potential.
      1824 S Harbor City Blvd, Melbourne, FL 32901
      View Details
    • $1,500,000
      4,948 SF

      Versatile Commercial Property in Melbourne

      Former nursing school suitable for educational, medical, or professional use.
      111 Scott St, Melbourne, FL 32901
      View Details
    • $1,499,000
      7,728 SF

      Melbourne Multi-Unit Investment Opportunity

      Eleven units in a prime Melbourne location with new roof and windows.
      89 NW Irwin Ave, Melbourne, FL 32904
      View Details

    FAQs

    What type of property is this?
    Multifamily property - 1.5-Acre Waterfront Property, Multifamily Potential
    Where is this multifamily property located?
    The property is located at 2918 Pineapple Ave Melbourne, FL.
    What is the asking price?
    The asking price for this property is $999,900.
    What are key features of this property?
    This property features: $999,900 asking price.; 1.5-acre waterfront lot (65,340 sq ft) in Melbourne, FL.; Multifamily development potential (13 units) or single-family home construction.
    Request Owner's contact information
    2918 Pineapple Ave Melbourne, FL 32935
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2918 Pineapple Ave
    Melbourne, FL 32935
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    2918 Pineapple Ave Melbourne, FL 32935
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.