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Property profile & analytics
OFF-MARKET
Small apartment buildings

161 Shepard Dr Cocoa Beach, FL 32931

Property ID
US18-6491044
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Small apartment buildings
UPID US18-6491044
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
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Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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