300 Mercury SE Ave Palm Bay, FL 32909-3987
Property profile & analytics
300 Mercury SE Ave Palm Bay, FL 32909-3987
- Apartment buildings
- 15,248 SF
- 2.01 lot acres
Property ID
US18-3445478
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 300 Mercury SE Ave
- Year built
- 1986
- Construction
- WOOD
- Lot size
- 2.01 lot acres
- Property size
- 15,248 SF
- Zone code
- RM20
- Property type
- Apartment buildings
- APN
- 29-37-03-26-01985.0-0001.00
- APU
- 9223372036854775807
Description
This exceptional value-add multifamily investment opportunity presents a 16-unit apartment building situated on a 2.01-acre lot in Palm Bay, Florida. The property, known as Mercury Pines Apartments, is a two-story, single building constructed in 1986 with wood frame and stucco on a concrete foundation. Each of the 16 units offers two bedrooms and one bathroom, spanning 899 square feet. Currently boasting 100% occupancy, the property presents a compelling opportunity to enhance rental income. Two units have already been upgraded to premium finishes, resulting in a 14% rent premium on newly leased units. The remaining 14 units offer significant potential for value enhancement through similar upgrades. The property's strategic location at the southeast corner of I-95 and Malabar Road provides easy access to major thoroughfares, thriving commercial businesses, and other multifamily housing. Its proximity to Health First Hospital and Eastern Florida State College further enhances its appeal. The substantial 2.01-acre lot includes excess land, presenting the possibility of adding desirable common area amenities such as a dog park, gazebos, or playgrounds, to further increase tenant satisfaction and property value. The asking price is $2,750,000, translating to $191.18 per square foot and $171,875 per unit. This property offers a rare chance to capitalize on a strong market and realize significant returns on investment.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Palm Bay
- County
- Brevard
- State
- Florida
- Longitude
- -80.6178
- Latitude
- 27.9935
- CBSA code
- 37340
- CBSA name
- PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$10,900
$200,000
$565,320
$765,320
-
$200,000
$565,320
$765,320
