8955 Puerto Del Rio Drive, Cape Canaveral, FL 32920

$8,250,000

Add to Favorites New Search

Show Photos

Verify your account to unlock exclusive photos, mortgage tools, and more.

Add to Favorites

List Price: $8,250,000
MLS#: 1078450
Status: ACTIVE
Type: Land
County: Brevard
City: Cape Canaveral
Area: Cape Canaveral
Subdivision: Puerto Del Rio Condo Ph 1a
Total Square Feet: 326,700
Acres: 7.50
Days on Market: 60

New Search

Property Description

MULTI-FAMILY INFILL OPPORTUNTY of 112 UNITS. Positioned within the Economic Overlay District of Cape Canaveral, the subject property represents a fully entitled ±7.5-acre multifamily development opportunity consisting of seven approved mid-rise residential pads. Each development pad encompasses approximately ±1 acre or greater and is approved for a four-story multifamily structure to a maximum building height of 45 feet. Current entitlements allow for 16 residential units per building, totaling 112 approved multifamily units across the site. All horizontal infrastructure improvements are in place, including paved roadways, municipal water, sanitary sewer, electrical service, drainage, and utility connectivity, allowing for immediate vertical development execution. Strategically positioned adjacent to the final undeveloped waterfront corridor within Cape Canaveral and neighboring the Banana River, the asset is surrounded by an established coastal residential and hospitality corridor, comprised of condominium communities, hotels, mixed-use assets, and multifamily developments. The project benefits from exceptional regional connectivity and a highly desirable coastal backdrop highlighted by world-famous Port Canaveral, the Intracoastal Waterway, and the Atlantic Ocean beaches, positioning the development within one of Central Florida's most supply-constrained and rapidly appreciating waterfront submarkets.

Search All Properties

Additional Information