About This Property
Description from listing agentA rare 165' direct riverfront development opportunity in historic downtown Melbourne. This 0.66-acre (approx. 28,750 sq ft) parcel offers 165' of unobstructed Indian River frontage with 170' depth, panoramic views of the causeway and barrier island, and a lot elevation of 20.33 ft NAVD. With city-approved site plans for 4 luxury townhomes, a 6.0 FAR, completed aquatic and habitat surveys, and C-1 zoning, the site is primed for high-end residential or mixed-use development. Survey, plans, and environmental study are approved and included. Located at the center of Melbourne's ongoing revitalization, this is a once-in-a-generation chance to anchor a flagship project on the Space Coast waterfront. The owner has already paved the way—now it's your turn to make it iconic.
Space Coast Context
🚀 Launch Viewing — Good Views
33.2 mi from SLC-40
33.2 miles from SLC-40 — visible on clear days, especially at night.
Estimates only — verify with Google Maps.
Flood Risk
Outside the Special Flood Hazard Area. Flood insurance is optional but recommended.
Estimated flood insurance: $500 – $1,200 / yr — varies by coverage, elevation & insurer
Source: FEMA National Flood Hazard Layer. Insurance estimates are ranges only — get a quote for accurate pricing.
Offer Intelligence
Price history and market context for this listing.
How we match comps
Comps are pulled directly from the Space Coast MLS — sold sales only, closed within the last 180 days. We apply hyper-local matching criteria in this order:
- ✓Same property type, always (single family, condo, townhouse, etc.)
- ✓Single-story homes compared only to single-story (and multi to multi)
- ✓Exact bedroom count
- ✓Bathrooms within ±0.5
- ✓Garage spaces within ±1
- ✓Pool status must match
- ✓Waterfront status must match
- ✓HOA must match (HOA community vs. no HOA)
- ✓Price within ±5–20% of list price (tightest in early tiers)
- ✓Square footage within ±10–25% (tighter in early tiers)
- ✓Year built always within ±5–20 years (never dropped)
We search in tiers, expanding the radius only as needed — starting in the same subdivision within 1 mile, then 2 miles, then the same neighborhood within 3 miles, and the same zip code within 5 miles as a last resort. For luxury homes ($5M+), where nearby comps are scarce, we widen the search to 5–20 miles. Year built is always required so comps are from the same era of construction. The median is weighted toward nearer sales, and sales within the last 90 days count 2× to reflect current market conditions.
Median estimate is based on similar active listings and homes that have sold within the last 180 days in this area, as reported through Brevard MLS. This is not an appraisal or a Comparative Market Analysis (CMA). Before making an offer, work with a licensed real estate agent to obtain a CMA, or hire a certified real estate appraiser for an independent valuation.
Location
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Financial & Listing Details
Estimated Monthly Payment
- Principal & interest
- $10,274
- Property taxes
- $1,950
- Insurance
- $150
Based on a 6.90% rate, 30-year loan, and $1.9M price — down payment shown: $390,000.
This is a quick estimate only — it does not include items like mortgage insurance, closing costs, or rate-lock terms. For an accurate payment based on your credit and finances, get pre-qualified with a certified bank or licensed mortgage brokerage.
