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Investment Highlights

  • Multifamily Development Opportunity in Rapidly Growing Palm Bay
  • Existing Due Diligence Package Available to Qualified Buyers
  • Strong Space Coast Growth Corridor Near Major Employers & I-95

Executive Summary

Rare 1.87-acre RM-2 multifamily residential development opportunity in Palm Bay. Centrally located near Malabar Rd and San Filippo Dr SE with convenient access to shopping, dining, schools, and major roadways. Property is zoned multifamily residential and offers potential for residential development subject to buyer verification with the City of Palm Bay. Existing due diligence materials including surveys and environmental reports available upon request. Excellent opportunity for builders, investors, or multifamily developers.

Data Room Click Here to Access

Property Facts

Price $410,130 CAD
Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Residential
Proposed Use Multifamily
Total Lot Size 1.87 AC
Zoning RM-2 - RM-2 Multifamily Residential zoning intended for medium-density multifamily residential development. Buyer to verify allowable use.

1 Lot Available

Lot

Price $410,130 CAD
Price Per AC $219,320.67 CAD
Lot Size 1.87 AC

1.87-acre RM-2 Multifamily Residential Development Opportunity

Description

Rare 1.87-acre multifamily residential development opportunity located in the rapidly growing Palm Bay market of Brevard County, Florida. Zoned RM-2 Multifamily Residential, the property is strategically positioned near Malabar Road and San Filippo Drive SE, providing convenient access to major retail corridors, medical services, schools, and regional transportation routes. The surrounding area continues to experience significant residential and commercial growth driven by expansion throughout the Space Coast region, including continued demand for workforce and multifamily housing supporting aerospace, defense, technology, and healthcare employment sectors. Nearby employers and economic drivers include L3Harris Technologies, Northrop Grumman, Health First, and the broader Space Coast aerospace corridor. The site consists of approximately 1.87 acres of vacant residential land with existing due diligence materials available, including surveys, environmental reports, and feasibility-related documentation. The parcel offers an attractive opportunity for multifamily developers, builders, and investors seeking infill residential development within one of Florida’s fastest-growing regions. Conveniently located within minutes of: Malabar Road retail and dining corridor I-95 interchange access Palm Bay Regional Park Eastern Florida State College Major employment centers throughout Melbourne and Palm Bay Approximately 20 minutes to Melbourne Orlando International Airport Buyer to independently verify zoning, density, utilities, development requirements, and intended use with the City of Palm Bay.

Somewhat walkable
30/100
Exceptionally drivable
100/100
Moderately bikeable
70/100

Property Taxes

Property Taxes

Parcel Number
29-37-03-26-01981.0-0011.00
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$408,450 CAD
  • Listing ID: 40698390

  • Date on Market: 2026-05-28

  • Last Updated:

  • Address: 1984 Agora Cir SE, Palm Bay, FL 32909

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