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300 Mercury Ave SE 16 Unit Apartment Building $3,129,173 CAD ($195,573 CAD/Unit) Palm Bay, FL 32909
Investment Highlights
- New roof and fascia in 2026
- Excess acreage allows for opportunity to add common area amenities
- Minutes away from Health First Hospital, a major medical center that features 120 beds and more than 200 skilled physicians
- Value-add opportunity, with 14 out of 16 units remain to be improved to higher quality finish and rent levels
- Ease of access to major thoroughfares, less than 5 minutes away from Interstate 95 (I-95) and Malabar Road
- Minutes away from Eastern Florida State College, which is recognized as one of Florida's top state colleges with over 18,000 students
Executive Summary
Please contact Andrew Green (Andrew.Green@seacrestadvisors.com) to discuss the offering.
Mercury Pines is a two-story, single apartment building located in Palm Bay, Florida. The asset was built in 1986 with wood frame & stucco on concrete slab and is situated on approximately two acres. The property consists of sixteen (16) units that are all two bedroom / one bathroom which are +/- 850 square feet each. Mercury Pines is ideally located on the southeast corner of I-95 and Malabar Road and is near several commercial businesses. Additionally, the asset is a few minutes away from Eastern Florida State College and Health First Hospital, providing sustained tenant demand.
Mercury Pines offers the new ownership an attractive opportunity to finish improving the remaining units to higher quality finish levels. Current ownership has improved 2 out of the 16 units, leaving the remaining 14 units for the new owner to complete and further push the rental income. Additionally, the property has excess acreage which could be utilized to add common area amenities for the tenants. This leaves the new owner an opportunity to significantly improve the value of Mercury Pines.
Mercury Pines is a two-story, single apartment building located in Palm Bay, Florida. The asset was built in 1986 with wood frame & stucco on concrete slab and is situated on approximately two acres. The property consists of sixteen (16) units that are all two bedroom / one bathroom which are +/- 850 square feet each. Mercury Pines is ideally located on the southeast corner of I-95 and Malabar Road and is near several commercial businesses. Additionally, the asset is a few minutes away from Eastern Florida State College and Health First Hospital, providing sustained tenant demand.
Mercury Pines offers the new ownership an attractive opportunity to finish improving the remaining units to higher quality finish levels. Current ownership has improved 2 out of the 16 units, leaving the remaining 14 units for the new owner to complete and further push the rental income. Additionally, the property has excess acreage which could be utilized to add common area amenities for the tenants. This leaves the new owner an opportunity to significantly improve the value of Mercury Pines.
Data Room Click Here to Access
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,129,173 CAD | Building Class | C |
| Price Per Unit | $195,573 CAD | Lot Size | 2.02 AC |
| Sale Type | Investment | Building Size | 14,384 SF |
| No. Units | 16 | Average Occupancy | 88% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1986 |
| Apartment Style | Low-Rise | ||
| Zoning | RM20 | ||
| Price | $3,129,173 CAD |
| Price Per Unit | $195,573 CAD |
| Sale Type | Investment |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.02 AC |
| Building Size | 14,384 SF |
| Average Occupancy | 88% |
| No. Stories | 2 |
| Year Built | 1986 |
| Zoning | RM20 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Tub/Shower
- Yard
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 16 | - | 850 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
20/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 29-37-03-26-01985.0-0001.00 | Improvements Assessment | $0 CAD (2025) |
| Land Assessment | $0 CAD (2025) | Total Assessment | $1,374,591 CAD (2025) |
Property Taxes
Parcel Number
29-37-03-26-01985.0-0001.00
Land Assessment
$0 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$1,374,591 CAD (2025)
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300 Mercury Ave SE
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