161 Shepard Dr Cocoa Beach, FL 32931
This exceptional 15,682 square foot commercial property, located at 161 S Shepard Drive in Cocoa Beach, Florida (zip code 32931), presents a unique investment opportunity. Priced at $719,000, this land offers versatile zoning within the Gateway Redevelopment District, allowing for a variety of uses. The property is zoned for multifamily dwellings, professional businesses, bed and breakfasts, retail stores and services, pet care facilities (excluding boarding), tattoo studios, and even drive-through facilities. Its prime location in the heart of Cocoa Beach provides easy access to the Atlantic Ocean and its vibrant atmosphere, while simultaneously offering a secluded feel near beautiful riverfront homes. The property's size and zoning flexibility make it ideal for developers seeking to create a thriving commercial or residential project. The existing land provides a blank canvas for a creative vision, allowing for the construction of a truly unique and profitable venture in this desirable coastal Florida location. This is a rare chance to acquire a substantial parcel of land in a high-demand area with significant potential for future growth and return on investment. The property's proximity to the ocean and its diverse zoning options make it an attractive proposition for a wide range of commercial and residential developments.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.