0000 Shr Dr Dr Merritt Island, FL 32952
This remarkable 223,027 square foot property in Merritt Island, Florida, presents a unique investment opportunity. Located in a gated community, this expansive land parcel offers the potential for development as one large estate or two separate buildable lots. The property boasts breathtaking views, including spectacular space launches, sunrises, sunsets, full moon risings, cruise ships, and the nighttime skylines of Cape Canaveral and Cocoa Beach. Its prime location on a peninsula, dredged in 1954, provides exceptional shoreline protection via a seawall and/or coquina revetment. The property's riparian rights may even allow for a helicopter landing pad over the river portion of a submerged land deed, subject to applicable regulations and permits. Anglers will appreciate the excellent fishing opportunities available. All utilities are conveniently located underground. The asking price for this exceptional waterfront property is $3,500,000. This is a rare chance to acquire a truly unique and desirable piece of Florida real estate with significant potential. The property is zoned for both commercial and residential use, offering flexibility for various development plans. The address is 0000 Shore Drive Drive, Merritt Island, FL 32952.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
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Property description
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No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.