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

    84 Banana Riv Dr # Dr Merritt Island, FL 32952

    Sponsored
    For Sale
    $1,450,000

    Prime Merritt Island Commercial Land

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 1.5-acre waterfront property in Merritt Island, Florida, presents a unique redevelopment opportunity. Located at 84 S Banana River Dr # Drive, 32952, this 65,340 square foot lot boasts stunning views of the 520 Causeway and direct access to the Banana River. A seawall runs the entire length of the property, offering significant waterfront potential. The flat terrain simplifies development, and while tax records indicate a prior plan for 84 condo units, the property's zoning allows for a multitude of commercial and multifamily uses. This is one of the last remaining undeveloped waterfront parcels on the Banana River, making it a truly rare find. The property is conveniently located in Brevard County, offering easy access to major roadways and amenities. Detailed survey information is available for review, providing precise measurements of the water frontage. This is an unparalleled chance to acquire a highly desirable piece of Florida real estate with immense potential for a lucrative investment. The asking price is $1,450,000. Don't miss this opportunity to create a landmark development in a prime location.

    Property Features for 84 Banana Riv Dr # Dr

    General Information

    Property type
    Multifamily properties
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Map

    City
    Merritt Island
    County
    Brevard
    State
    Florida
    Longitude
    -80.661802
    Latitude
    28.356225

    Nearby Similar for Sale

    • $649,000
      3,104 SF

      Remodeled Duplex in Sea Gate

      Spacious, remodeled duplex with RV slab in desirable community.
      3078 Sea Gate Cir, Merritt Island, FL 32953
      View Details
    • $525,000
      2,444 SF

      Merritt Island Commercial Property For Sale

      Renovated commercial property in Merritt Island's historic Merritt Park.
      290 Parnell St, Merritt Island, FL 32953
      View Details
    • $400,000
      2,523 SF

      Income-Producing Duplex on Spacious Lot

      Two independent residences, well-maintained with rental income potential.
      1685 Savana Dr, Merritt Island, FL 32952
      View Details
    • $749,500
      4,631 SF

      Commercial Corner Lot with Pool

      Two buildings on a corner lot with a heated pool.
      691 N Courtenay Pkwy, Merritt Island, FL 32953
      View Details
    • $170,000
      882 SF

      Merritt Island Co-op

      Three-bedroom, two-bathroom co-op with pool views and carport.
      195 Treasure St, Merritt Island, FL 32952
      View Details
    • $125,000
      704 SF

      Merritt Island Multifamily Unit

      Well-maintained 2-bedroom end unit with modern upgrades and community amenities.
      215 Buccaneer Ave, Merritt Island, FL 32952
      View Details
    • $94,900
      550 SF

      Updated Co-Op Near Banana River

      Updated first-floor co-op unit with deeded carport near Cocoa Beach.
      205 Buccaneer Ave, Merritt Island, FL 32952
      View Details
    • $1,595,000
      4.36 Acres

      Riverfront Lot on Merritt Island

      Rare 4+ acre riverfront lot with 350 feet frontage.
      3400 Spartina Ave, Merritt Island, FL 32953
      View Details
    • New
      $395,000
      2,243 SF

      Merritt Island Multifamily Investment Opportunity

      Duplex with triplex conversion potential near schools, shopping, and restaurants.
      347 W Merritt Ave, Merritt Island, FL 32953
      View Details
    • $870,000
      2,012 SF

      Merritt Island Car Wash Property

      Prime commercial property in high-traffic area, land and building included.
      226 S Courtenay Pkwy, Merritt Island, FL 32952
      View Details
    • $525,000
      2,444 SF

      Merritt Island Commercial Property

      Commercial property in Merritt Island with historic charm and modern updates.
      290 Parnell St, Merritt Island, FL 32953
      View Details
    • $799,000

      Fully Leased Pier Park Plaza

      Professional mixed-use office building in Merritt Island, fully leased.
      1365 N Courtenay Pkwy, Merritt Island, FL 32953
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Prime Merritt Island Commercial Land
    Where is this multifamily property located?
    The property is located at 84 Banana Riv Dr # Dr Merritt Island, FL.
    What is the asking price?
    The asking price for this property is $1,450,000.
    Request Owner's contact information
    84 Banana Riv Dr # Dr Merritt Island, FL 32952
    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.
    84 Banana Riv Dr # Dr
    Merritt Island, FL 32952
    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
    84 Banana Riv Dr # Dr Merritt Island, FL 32952
    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.