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311 Mercury Avenue SE, Palm Bay, FL 32909

$440,000

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List Price: $440,000
MLS#: 1089930
Status: ACTIVE
Type: Land
County: Brevard
City: Palm Bay
Area: Malabar/Grant
Subdivision: Port Malabar Unit 40
Acres: 1.65
Days on Market: 0

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Property Description

The Mercury Ave pair is a 1.65-acre multifamily development site in Palm Bay: two contiguous lots (0.73 and 0.92 acres) zoned RM-20 with High Density Residential future land use. Multifamily is permitted by right at 20 units per acre, a yield of up to 33 units. The site is zoned but not entitled. No site plan, civil engineering, or building plans are in place, and the buyer will need to complete design, site plan approval, and permitting. Agora Village, one block north on the same Port Malabar plat, is site plan approved for 35 units at 19.6 units per acre on a similar footprint. The lots have about 225 feet of combined frontage on Mercury Ave SE and run 320 feet deep. Both are wooded and unimproved. City of Palm Bay water and sewer are available to both lots. Flood Zone X.

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Additional Information

Tax Year: 2025
Tax Amount: $1,544
Location Description: Other
Utilities: Other
Dwelling View: Other
Elementary School: Port Malabar
Middle School: Stone
High School: Palm Bay