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    2918 Pineapple Ave Melbourne, FL 32935

    For Sale
    $549,900

    1.5 Acres, Riverfront Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 1.5-acre waterfront property in Melbourne, Florida (32935), located on the Indian River, is being divided into two approximately 0.75-acre parcels, each sold separately. The land boasts approximately 200 feet of potential dock space, ideal for marine enthusiasts. City sewer and water are available along Pineapple Avenue S, with some existing infrastructure. The property offers the unique opportunity to build a single-family home or, with multifamily zoning available, develop a multi-unit residential project. Enjoy the tranquility of riverfront living while being minutes from Orlando attractions, beaches, and the vibrant Eau Gallie Arts District. Seller financing is available for qualified buyers. The lot size is 65,340 square feet. This is a rare opportunity to own a piece of waterfront paradise in a desirable location. The asking price is $549,900.

    Property Features for 2918 Pineapple Ave

    General Information

    Property type
    Multifamily properties

    HighLights

    • 1.5‑acre waterfront property in Melbourne, FL (32935) on the Indian River, divided into two ~0.75‑acre parcels, each sold separately.
    • Each parcel offers ~200 feet of potential dockage.
    • City sewer and water available, some existing infrastructure.
    • Multifamily zoning allows for single‑family home or multi‑unit residential development.
    • Seller financing available.
    • Asking price: $549,900.
    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

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    FAQs

    What type of property is this?
    Multifamily property - 1.5 Acres, Riverfront Opportunity
    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 $549,900.
    What are key features of this property?
    This property features: 1.5-acre waterfront property in Melbourne, FL (32935) on the Indian River, divided into two ~0.75-acre parcels, each sold separately.; Each parcel offers ~200 feet of potential dockage.; City sewer and water available, some existing infrastructure.
    Request Owner's contact information
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    Melbourne, FL 32935
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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
    2918 Pineapple Ave Melbourne, FL 32935
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