$4,000,000
1568 Water Drive Ne, Palm Bay, Fl 32905
Palm Bay, FL 32905
Listing updated: July 11, 2026 at 9:58 AM ET
Property type
Lot size
HOA dues
About this home
Prime commercial development site (BMU) zoned land in one of Palm Bay's fastest-growing corridors. The City of Palm Bay has expressed strong interest in seeing this site activated, with support for multifamily, retail, mixed-use, hospitality, or service-oriented development (buyer to verify). Large, development-ready parcels like this are scarce in PB, that allows for flexible commercial and residential uses. As population growth and infrastructure investment continue to expand across Brevard County, demand for new housing, retail, medical, and lifestyle-oriented projects is accelerating. Opportunities to control nearly 2.5 acres in a strategic location are becoming extremely limited. This site presents developers and investors the ability to create a high-impact project like multifamily apartments, mixed-use residential and retail, hotel, medical or professional office, townhomes, or a destination retail center designed to serve the rapidly expanding surrounding communities.
Estimated monthly payment
Estimate only. Taxes use the listing's reported amount where available; insurance is a Florida-average estimate. Your actual payment will vary — run a full calculation or talk to a lender.
Price & listing history
- Status: ActiveMar 16, 2026
- Listed$4,000,000Mar 16, 2026
- Price increased$4,000,000
Facts & features
- Property type
- Land
- Sub type
- Unimproved Land
- Status
- Active
- Subdivision
- Palm Bay Map Number 1
- County
- Brevard
- Lot size
- 107,158 sq ft
- Parcel #
- 28-37-24-27-00005.0-0005.00
- MLS #
- 1072015
Ask about this home
Have a question? Ask the broker directly.
Ryan Solberg answers personally — no call center, no spam. Your question goes straight to him.
Listing Details
- Listing date
- 2026-03-05
- On market date
- 2026-03-16
- Original list price
- $4,000,000
- Status changed
- 2026-03-16
Location
More homes like this

$2,600,000
531 Sunset Boulevard, Melbourne Beach, Fl 32951
Melbourne Beach, FL 32951
4 bd · 4 ba · 6,000 sqft
Sunset Bay Subd
MLS ID #1066839, Arium Real Estate, LLC.
Listing provided by Space Coast MLS (Space Coast Association of REALTORS®)

$3,695,000
510 N Riverside Drive, Indialantic, Fl 32903
Indialantic, FL 32903
4 bd · 4 ba · 4,021 sqft
Indialantic By The Sea
MLS ID #1079914, Misty Morrison Real Estate.
Listing provided by Space Coast MLS (Space Coast Association of REALTORS®)

$2,500,000
000 Coply Street Se, Palm Bay, Fl 32909
Palm Bay, FL 32909
12.12 acres
Port Malabar Unit 9
MLS ID #1082796, Waterman Real Estate Inc..
Listing provided by Space Coast MLS (Space Coast Association of REALTORS®)

$3,200,000
5565 S Highway A1a, Melbourne Beach, Fl 32951
Melbourne Beach, FL 32951
4 bd · 3 ba · 3,109 sqft
S 300ft Of N 400ft Of Govt Lot
MLS ID #1072596, Premier Properties Real Estate.
Listing provided by Space Coast MLS (Space Coast Association of REALTORS®)
Listings courtesy of Stellar MLS as distributed by MLS GRID
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Based on information submitted to the MLS GRID as of July 11, 2026 at 9:58 AM ET. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
All or a portion of the multiple listing information is provided by Stellar MLS, from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2026 Stellar MLS. All rights reserved.
Brevard County listings courtesy of the Space Coast Association of REALTORS® (Space Coast MLS)
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.
© 2026Space Coast Association of REALTORS®. All information should be independently reviewed and verified for accuracy.
Ryan Solberg, Broker · MaxLife Realty LLC · FL License #BK3354351 · Equal Housing Opportunity · Full disclaimer · DMCA