(Multiple) Puerto Del Rio Drive, Cape Canaveral, FL 32920

$8,250,000

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Conceptual rendering depicting 7 mid-rise condominiums.

Conceptual rendering depicting a potential mid-rise condominium.

DJI_0455_reedit_b6423e3e_e784156a-v3 (1)

Property Type: Commercial Sale Square Footage: 385,000 Lot Size (sq. ft.): 326,700 Status: Active

Current Price: $8,250,000 List Date: 6/13/2026 Last Modified: 7/17/2026

Overview

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

Supplements: 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 Flo ... (Read more)

Listing Details MLS# 1079947

General Property Information

Number Of Units Total: 112
Building Area Total: 385000
Year Built: 2028
Lot Size Acres: 7.5
Association YN: Yes
Association Fee Frequency: Monthly
Water Body Access YN: Yes
Waterfront YN: Yes
Water Body Name: Banana River
List Price/SqFt: 21.43
Association Fee: 0

Property Features

Association Amenities: Boat Dock; Clubhouse; Dog Park; Fitness Center; Jogging Path; Maintenance Grounds; Management - Full Time; Park; Security; Storage; Other Construction Materials: Stucco Cooling: Central Building Current Use: Multi-Family; Residential Listing Terms: Cash; Conventional; Owner May Carry; Private Financing Available Lot Features: Cul-De-Sac; Other Parking Features: Assigned; Garage; Secured Possession: Close Of Escrow Water Body Access Type: Association; Shared Road Frontage Type: City Street Sale Includes: Land Only Security Features: 24 Hour Security Sewer: Public Sewer Showing Requirements: 24 Hour Notice; Call Listing Agent; Call Listing Office Special Listing Conditions: Standard Utilities: Cable Connected; Electricity Connected; Sewer Connected; Water Connected Water Source: Public Waterfront Features: Intracoastal; River Access

Contract Information

Original List Price: 8250000
Listing Contract Date: 2026-06-08
Property Sub Type: Multi Family

Location Tax and Legal

Street Number: (Multiple)
Street Name: Puerto Del Rio
Street Suffix: Drive
County: Brevard
State: FL
Postal Code: 32920
MLS Area Major: 271 - Cape Canaveral
Subdivision Name: Puerto Del Rio Condo Ph 1A

Remarks and Miscellaneous

Public Remarks: 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

Status Change Information

Major Change Timestamp: 2026-06-16T16:54:16Z
Major Change Type: New Listing
Status Change Timestamp: 2026-06-13

More Information

Unit 1 Details

Unit ID: Penthouse
Unit SqFt: 2434
# Units (This Type): 4
Furnished: Unfurnished
Unit Remarks: none
Annual Rent: 0

Unit 2 Details

Unit ID: Penthouse
Unit SqFt: 2434
# Units (This Type): 4
Furnished: Unfurnished
Unit Remarks: none
Annual Rent: 0

Unit 3 Details

Unit ID: Penthouse
Unit SqFt: 2434
# Units (This Type): 4
Furnished: Unfurnished
Unit Remarks: none
Annual Rent: 0

Unit 4 Details

Unit ID: Penthouse
Unit SqFt: 2434
# Units (This Type): 4
Furnished: Unfurnished
Unit Remarks: none
Annual Rent: 0

Unit 5 Details

Unit ID: Penthouse
Unit SqFt: 2434
# Units (This Type): 4
Furnished: Unfurnished
Unit Remarks: none
Annual Rent: 0

Unit 6 Details

Unit ID: Penthouse
Unit SqFt: 2434
# Units (This Type): 4
Furnished: Unfurnished
Unit Remarks: none
Annual Rent: 0

Unit 7 Details

Unit ID: Penthouse
Unit SqFt: 2434
# Units (This Type): 4
Furnished: Unfurnished
Unit Remarks: None
Annual Rent: 0

Unit 8 Details

Unit ID: Penthouse
Unit SqFt: 2434
# Units (This Type): 4
Furnished: Unfurnished
Unit Remarks: none
Annual Rent: 0

Location, Tax, and Legal

Tax Account: 2456780
Parcel Number: 23-36-25-25-E-18
General County Location: Central
Tax Annual Amount: 202.37
Tax Year: 2025
Tax Legal Description: PUERTO DEL RIO CONDO PH 1C UNIT 6201 PUERTO DEL RIO PHASE ONE CONDO PHASE 1C AS DESC IN ORB 5006 PG 761 AND ALL AMENDMENTS THERETO
Zoning Description: Multi Family
Directions: From Cape Canaveral, travel south on North Atlantic Avenue (A1A), then head west onto West Central Boulevard toward North Banana River Drive. Continue south on North Banana River Drive, and the waterfront development of Puerto Del Rio will be located along the riverfront corridor, offering convenient access to Port Canaveral, Cocoa Beach, and the greater Space Coast market.

Association Amenities

Boat Dock: Yes
Clubhouse: Yes
Dog Park: Yes
Fitness Center: Yes
Jogging Path: Yes
Maintenance Grounds: Yes
Management - Full Time: Yes
Park: Yes
Security: Yes
Storage: Yes
Other: Yes

Construction Materials

Stucco: Yes

Cooling

Central Building: Yes

Current Use

Multi-Family: Yes
Residential: Yes

Listing Terms

Cash: Yes
Conventional: Yes
Owner May Carry: Yes
Private Financing Available: Yes

Lot Features

Cul-De-Sac: Yes
Other: Yes

Parking Features

Assigned: Yes
Garage: Yes
Secured: Yes

Possession

Close Of Escrow: Yes

Water Body Access Type

Association: Yes
Shared: Yes

Road Frontage Type

City Street: Yes

Security Features

24 Hour Security: Yes

Sewer

Public Sewer: Yes

Special Listing Conditions

Standard: Yes

Utilities

Cable Connected: Yes
Electricity Connected: Yes
Sewer Connected: Yes
Water Connected: Yes

Water Source

Public: Yes

Waterfront Features

Intracoastal: Yes
River Access: Yes

Showing Requirements

24 Hour Notice: Yes
Call Listing Agent: Yes
Call Listing Office: Yes

Sale Includes

Land Only: Yes

Listing Office: One Sotheby's International

Last Updated: July - 17 - 2026

Information is deemed to be reliable, but is not guaranteed.