Language and Region
Currency

Email*

Please enter a valid email address.

To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Message

939 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

8955 Puerto del Rio Dr - Puerto Del Rio 7.5 Acres of Commercial Land Offered at $8,250,000 in Cape Canaveral, FL 32920

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

Investment Highlights

Fully entitled ±7.5-acre site allowing for 112 multifamily units across seven approved pads.
Positioned within Cape Canaveral’s Economic Overlay District with favorable development standards.

Existing infrastructure in place, including roadways, utilities, sewer, and drainage, supporting immediate vertical construction.
Convenient access to area attractions, beaches, and key transportation routes serving the Space Coast region.

Executive Summary

Presenting a fully entitled multifamily development opportunity in the heart of Cape Canaveral, this ±7.5-acre site offers a rare chance to deliver 112 new residential units within a thriving coastal market. Situated in the Economic Overlay District, the property consists of seven approved mid-rise development pads, each spanning approximately one acre and permitted for a four-story building rising up to 45 feet in height. Existing entitlements allow for 16 units per structure across the site, enabling immediate execution without time-consuming approvals. All horizontal improvements are complete, including paved internal roadways, municipal water and sanitary sewer connections, electrical service, drainage, and upgraded utility infrastructure. Located adjacent to the final undeveloped waterfront corridor in Cape Canaveral and bordering the Banana River, the property benefits from proximity to the city’s residential neighborhoods, hospitality destinations, and vibrant recreational amenities. This is an exceptional opportunity for developers and investors seeking a high-demand infill project in one of Florida’s most dynamic coastal markets.

Property Facts

Price	$8,250,000	Property Subtype	Commercial
Sale Type	Investment	Proposed Use	Multifamily Apartment Units - Condo
No. Lots	1	Total Lot Size	7.50 AC
Property Type	Land
Zoning	R3 - Each pad can be built to 45 feet with 16 units (4 units per floor). Total of 112 Units for all 7 pads

Price	$8,250,000
Sale Type	Investment
No. Lots	1
Property Type	Land
Property Subtype	Commercial
Proposed Use	Multifamily Apartment Units - Condo
Total Lot Size	7.50 AC
Zoning	R3 - Each pad can be built to 45 feet with 16 units (4 units per floor). Total of 112 Units for all 7 pads

1 Lot Available

Lot

Price	$8,250,000	Lot Size	7.50 AC
Price Per AC	$1,100,000.00

Price	$8,250,000
Price Per AC	$1,100,000.00
Lot Size	7.50 AC

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

Description

The site is located within Cape Canaveral, Florida, spanning approximately 7.5 acres and positioned in an Economic Overlay District. The property includes seven entitled development pads suitable for multifamily housing. Each pad supports a four-story structure with maximum height restrictions of 45 feet. The site is fully entitled for 112 residential units. All necessary horizontal infrastructure such as paved roads, municipal utilities, and utility connections has been installed. The property lies near the Banana River along an undeveloped waterfront corridor and is surrounded by existing residential and hospitality uses.

1 1