For Sale
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Property summary
This exceptional 1.5-acre waterfront property, located at 2918 Pineapple Avenue in Melbourne, Florida, presents a unique investment opportunity. The 65,340 square foot lot sits on the Indian River, offering breathtaking waterfront views and significant development potential. The property is zoned to allow for the construction of a multifamily development, potentially accommodating up to 13 units, or alternatively, several single-family homes. The site's prime location provides convenient access to nearby beaches and the vibrant Eau Gallie Arts District, known for its diverse cultural attractions and dining options. City sewer and water services are readily available along Pineapple Avenue, simplifying infrastructure needs. The seller is open to exploring joint venture partnerships or owner financing options, making this an attractive proposition for various investment strategies. This property offers a rare chance to create a thriving waterfront community, catering to either multifamily or single-family residential needs, in a highly desirable location. The combination of waterfront access, convenient location, and flexible ownership options makes this a truly exceptional investment opportunity. The property is classified as Commercial, Apartment Building, and Residential, and is a Duplex/Triplex/Quadruplex type. The asking price is $999,900.
Property profile
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Value estimations
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Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Property description
Physical attributes from public recordsZoning & alternative use
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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