1568 Water Drive NE, Palm Bay, FL 32905
$4,000,000
Property Type:
Land
Lot Size (sq. ft.):
107,158
Status:
Active
Current Price:
$4,000,000
List Date:
3/16/2026
Last Modified:
4/24/2026
Description
Prime commercial development site (BMU) zoned land in one of Palm Bay's fastest-growing corridors. The City of Palm Bay has expressed strong interest in seeing this site activated, with support for multifamily, retail, mixed-use, hospitality, or service-oriented development (buyer to verify).
Large, development-ready parcels like this are scarce in PB, that allows for flexible commercial and residential uses. As population growth and infrastructure investment continue to expand across Brevard County, demand for new housing, retail, medical, and lifestyle-oriented projects is accelerating. Opportunities to control nearly 2.5 acres in a strategic location are becoming extremely limited.
This site presents developers and investors the ability to create a high-impact project like multifamily apartments, mixed-use residential and retail, hotel, medical or professional office, townhomes, or a destination retail center designed to serve the rapidly expanding surrounding communities.
More Information MLS# 1072015
Location, Tax, and Legal
Tax Account: 2832821
Parcel Number: 28-37-24-27-00005.0-0005.00
General County Location: South
Elementary School: Palm Bay Elem
Middle School: Stone
High School: Palm Bay
Tax Annual Amount: 2818.43
Tax Year: 2025
Tax Legal Description: PALM BAY MAP NUMBER 1 LOTS 5,6 & VAC E 10 FT OF OAK ST ON W BLK 5
Directions: Just North of Palm Bay Rd and US1 on Water Dr.
General Property Information
Lot Size Acres: 2.46
Lot Size Square Feet: 107158
CDD Fee YN: No
List Price/Acre: 1626016.26
Remarks and Miscellaneous
Public Remarks: Prime commercial development site (BMU) zoned land in one of Palm Bay's fastest-growing corridors. The City of Palm Bay has expressed strong interest in seeing this site activated, with support for multifamily, retail, mixed-use, hospitality, or service-oriented development (buyer to verify).
Large, development-ready parcels like this are scarce in PB, that allows for flexible commercial and residential uses. As population growth and infrastructure investment continue to expand across Brevard County, demand for new housing, retail, medical, and lifestyle-oriented projects is accelerating. Opportunities to control nearly 2.5 acres in a strategic location are becoming extremely limited.
This site presents developers and investors the ability to create a high-impact project like multifamily apartments, mixed-use residential and retail, hotel, medical or professional office, townhomes, or a destination retail center designed to serve the rapidly expanding surrounding communities.
Current Use
Mixed Use: 1
Listing Terms
Cash: 1
Conventional: 1
Other: 1
Lot Features
Other: 1
Possession
Close Of Escrow: 1
Road Frontage Type
Highway: 1
Sewer
Public Sewer: 1
Special Listing Conditions
Corporate Owned: 1
Utilities
Water Available: 1
Water Source
Public: 1
Showing Requirements
Call Listing Agent: 1
Contract Information
Current Price: $4,000,000
Original List Price: 4000000
List Price: $4,000,000
Status: Active
Listing Contract Date: 2026-03-05
Property Sub Type: Unimproved Land
Location Tax and Legal
Street Number: 1568
Street Name: Water
Street Suffix: Drive
Street Direction Suffix: NE
County: Brevard
State: FL
Postal Code: 32905
MLS Area Major: 340 - NE Palm Bay
Subdivision Name: Palm Bay Map Number 1
Status Change Information
Major Change Timestamp: 2026-03-16T14:21:48Z
Major Change Type: New Listing
Status Change Timestamp: 2026-03-16
Property Features
Current Use: Mixed Use
Listing Terms: Cash; Conventional; Other
Lot Features: Other
Possession: Close Of Escrow
Road Frontage Type: Highway
Sewer: Public Sewer
Showing Requirements: Call Listing Agent
Special Listing Conditions: Corporate Owned
Utilities: Water Available
Water Source: Public
Listing Office:
Relentless Real Estate Co.
Last Updated: April - 24 - 2026
Information is deemed to be reliable, but is not guaranteed.