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    420 Mercury Ave Palm Bay, FL 32909

    For Sale
    $159,900

    Prime location, high demand, 22,651 SF lot.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional 22,651 square foot lot, located at 420 Mercury Avenue SE in Palm Bay, Florida (zip code 32909), presents a remarkable opportunity for multifamily development. Situated in a rapidly expanding area of Brevard County, this property offers significant potential for investors seeking to capitalize on the high demand for apartment housing in this thriving market. The land is classified as Commercial and zoned for Multifamily use, specifically as a Duplex/Triplex/Quadruplex. The asking price for this prime development site is $159,900. Convenient access to city water and electric connections is already in place, streamlining the development process and reducing initial infrastructure costs. This rare offering represents a compelling investment prospect in a location experiencing substantial growth and a strong rental market. The property's size and location make it ideal for a variety of multifamily projects, catering to the increasing need for rental units in the area. Don't miss this chance to acquire a highly desirable development site in a prime location. Act quickly, as opportunities like this are seldom available.

    Property Features for 420 Mercury Ave

    General Information

    Property type
    Multifamily properties
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Bay
    County
    Brevard
    State
    Florida
    Longitude
    -80.617833
    Latitude
    27.990341

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    FAQs

    What type of property is this?
    Multifamily property - Prime location, high demand, 22,651 SF lot.
    Where is this multifamily property located?
    The property is located at 420 Mercury Ave Palm Bay, FL.
    What is the asking price?
    The asking price for this property is $159,900.
    Request Owner's contact information
    420 Mercury Ave Palm Bay, FL 32909
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    Palm Bay, FL 32909
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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
    420 Mercury Ave Palm Bay, FL 32909
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