$8,500,000
Cape Canaveral, FL 32920
MLS# 1079947
55000 sqft
1 / 25
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
Details
Maps
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.
General Property Information
Number Of Units Total: 112
Building Area Total: 55000
Lot Size Acres: 7.5
Association YN: Yes
Association Fee: 0
Association Fee Frequency: Monthly
Water Body Access YN: Yes
Waterfront YN: Yes
Water Body Name: Banana River
List Price/SqFt: 154.55
Year Built: 2028
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
Association Amenities
Boat Dock: 1
Clubhouse: 1
Dog Park: 1
Fitness Center: 1
Jogging Path: 1
Maintenance Grounds: 1
Management - Full Time: 1
Park: 1
Security: 1
Storage: 1
Other: 1
Construction Materials
Stucco: 1
Cooling
Central Building: 1
Current Use
Multi-Family: 1
Residential: 1
Listing Terms
Cash: 1
Conventional: 1
Owner May Carry: 1
Private Financing Available: 1
Lot Features
Cul-De-Sac: 1
Other: 1
Parking Features
Assigned: 1
Garage: 1
Secured: 1
Possession
Close Of Escrow: 1
Water Body Access Type
Association: 1
Shared: 1
Road Frontage Type
City Street: 1
Security Features
24 Hour Security: 1
Sewer
Public Sewer: 1
Special Listing Conditions
Standard: 1
Unit 1 Details
Unit ID: Penthouse
Annual Rent: 0
Unit SqFt: 2434
# Units (This Type): 4
Baths Total: 2
Furnished: Unfurnished
Unit Remarks: none
Unit 2 Details
Unit ID: Penthouse
Annual Rent: 0
Unit SqFt: 2434
# Units (This Type): 4
Baths Total: 2
Furnished: Unfurnished
Unit Remarks: none
Unit 3 Details
Unit ID: Penthouse
Annual Rent: 0
Unit SqFt: 2434
# Units (This Type): 4
Baths Total: 2
Furnished: Unfurnished
Unit Remarks: none
Unit 4 Details
Unit ID: Penthouse
Annual Rent: 0
Unit SqFt: 2434
# Units (This Type): 4
Baths Total: 2
Furnished: Unfurnished
Unit Remarks: none
Unit 5 Details
Unit ID: Penthouse
Annual Rent: 0
Unit SqFt: 2434
# Units (This Type): 4
Baths Total: 2
Furnished: Unfurnished
Unit Remarks: none
Unit 6 Details
Unit ID: Penthouse
Annual Rent: 0
Unit SqFt: 2434
# Units (This Type): 4
Baths Total: 2
Furnished: Unfurnished
Unit Remarks: none
Unit 7 Details
Unit ID: Penthouse
Annual Rent: 0
Unit SqFt: 2434
# Units (This Type): 4
Baths Total: 2
Furnished: Unfurnished
Unit Remarks: None
Unit 8 Details
Unit ID: Penthouse
Annual Rent: 0
Unit SqFt: 2434
# Units (This Type): 4
Baths Total: 2
Furnished: Unfurnished
Unit Remarks: none
Utilities
Cable Connected: 1
Electricity Connected: 1
Sewer Connected: 1
Water Connected: 1
Water Source
Public: 1
Waterfront Features
Intracoastal: 1
River Access: 1
Showing Requirements
24 Hour Notice: 1
Call Listing Agent: 1
Call Listing Office: 1
Sale Includes
Land Only: 1
Contract Information
Current Price: $8,500,000
Original List Price: 8500000
List Price: $8,500,000
Status: Active
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
Status Change Information
Major Change Timestamp: 2026-06-13T14:44:39Z
Major Change Type: New Listing
Status Change Timestamp: 2026-06-13
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
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 Florida's most supply-constrained and rapidly appreciating waterfront submarkets. DEVELOPMENT SITES ARE SHOVEL READY.
Listing Office: One Sotheby's International
Last Updated: June - 13 - 2026
Information is deemed to be reliable, but is not guaranteed.