N Courtenay Pkwy And Porcher Rd
Merritt Island, FL 32953
North Courtenay Parkway and Porcher Road · Land For Sale · 21.54 AC

The subject property contains approximately 21.5 acres of land. The property is rectangular in shape with 1,845 feet of highway frontage on State Road 3 and 500 feet on Porcher Road. A former citrus grove, the land has been cleared and fenced. It is currently zoned Commercial (BU-1 and BU-1A) by Brevard County. ZONING: The 21.5 acres is zoned Commercial BU-1 and BU-1A by Brevard County. • Commercial BU-1 (General Retail Commercial, Office, Medical) • BU-1A (Restricted Neighborhood Retail Commercial, Office, Medical) SEE ATTACHED ZONING MAP UTILITIES: The property is serviced with city water from the City of Cocoa. Brevard County has approved and funded the exten-sion of sewer service along SR 3 from Hall Road to Church Road. Construction of the sewer line is scheduled to be completed by June 2018. CCRS: To ensure quality buildings and esthetics, the Grantor has established criteria on land development; building specifica-tions, landscaping and access. A copy of the CCR's is attached. NEW RESIDENTIAL DEVELOPMENTS ARE BEING DESIGNED AND CONSTRUCTED IN THE IMMEDIATE VICINITY SUCH AS: • Egrets Landing (220 new homes Total) – Phase I / 55 Units - has only one lot remaining for sale. At an average price for a home of $350,000 that equates to just under $19,000,000.00 in sales for the first phase of the project. Phase II / Infrastructure Construction has started for 50 more residential sites. Pre-sales for the second phase are expected to begin November -December 2017 time frame. • Savannah Landing (56 Residential lots) - located 2.5 miles south of the subject property, this residential subdivision has received civil engineering approvals from Brevard County. Infra-structure development of the site is expected to begin in January 2018. • Crisafulli Town Home Project (48 Units) - Located immediately south of the subject property. This 48-unit project has potential sales of $15,000,000. The project is completing civil engineering drawings for submission to Brevard County. • 148 Acre parcel on E. Crisafulli Rd. is under contract for a residential development. The purchaser is completing their due diligence investigations. • Cape Crossing, just south of the Barge Canal, has been developing 47 townhomes for over a year. The next phase of the project is a 35 unit condominium building. SEE ATTACHED AERIAL MAP OF N. MERRITT ISLAND. Demographics: With the robust development of Exploration Park, there is a strong demand for residential residences in the North Merritt Island area. The existing residential projects being developed today indicate that 400+ residences will be developed in the coming 0-4 years. These 400 units will easily add 400 Households (12% increase) and increase the population by 1,000 (12% increase). It has been a long time since North Merritt Island has had such strong residential growth.