Skip main navigation
Lot/land
    • Price increase: $1M (7/11)
    $4,000,000

    1568 Water Dr NE, Palm Bay, FL 32905

    --beds
    --baths
    2.46Acres
    Unimproved Land
    Built in ----
    2.46 Acres Lot
    $-- Zestimate®
    $--/sqft
    $-- HOA

    What's special

    Large development-ready parcels
    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.
    118 days
    |
    56
    |
    2
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Jennifer Brown 321-412-4021,

    Relentless Real Estate Co.,

    Scott Loveridge 321-302-0763,

    Relentless Real Estate Co.

    Source: Space Coast AOR,MLS#: 1072015

      Facts & features

      Interior

      Features
      • Has fireplace: No

      Property

      Lot
      • Size: 2.46 Acres
      • Features: Other
      Details
      • Parcel number: 2837242700005.00005.00
      • Special conditions: Corporate Owned

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Public
      • Utilities for property: Water Available

      Community & HOA

      Community
      • Subdivision: Palm Bay Map Number 1
      Location
      • Region: Palm Bay

      Financial & listing details

      • Tax assessed value: $156,000
      • Annual tax amount: $2,818
      • Date on market: 3/16/2026
      • Listing terms: Cash,Conventional,Other

        Estimated market value

        Not available

        Estimated sales range

        Not available

        $1,540/mo

        Price history

        DateEventPrice
        7/11/2026Price change$4,000,000+33.3%
        Source: Space Coast AOR #1072015 Report a problem
        6/8/2026Price change$3,000,000-25%
        Source: Space Coast AOR #1072015 Report a problem
        3/16/2026Listed for sale$4,000,000+900%
        Source: Space Coast AOR #1072015 Report a problem
        5/27/2022Sold$400,000-36.5%
        Source: Public Record Report a problem
        8/20/2015Listing removed$630,000
        Source: National Realty of Brevard #732494 Report a problem
        8/13/2015Listed for sale$630,000+728.9%
        Source: National Realty of Brevard #732494 Report a problem
        10/7/1999Sold$76,000
        Source: Public Record Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$2,818 -0.9%$156,000
        2024$2,844 -34%$156,000 -32%
        2023$4,308 +323.7%$229,380 +123.8%
        2022$1,017 +0.4%$102,510 +3%
        2021$1,013 +3%$99,530 +1.4%
        2020$983 -9.3%$98,160 +2.3%
        2019$1,084 $95,960 +1.9%
        2018$1,084 +3%$94,180 +2.1%
        2017$1,052 -0.5%$92,250 -1.4%
        2016$1,058 +14.1%$93,600 +4.3%
        2015$927 -1.6%$89,740 +0.8%
        2014$942 $89,030 -0.3%
        2013-- $89,310 +0.4%
        2012$1,059 +5.9%$88,990 -5.2%
        2011$1,000 +14%$93,870 -21.1%
        2010$877 +10.9%$118,980 -13.8%
        2009$791 +5.8%$138,050 -15%
        2008$748 -20.8%$162,500 -11.7%
        2007$945 -2.3%$184,000 +133.4%
        2005$967 -4.7%$78,820 +21.1%
        2004$1,015 -2.4%$65,080 -9.4%
        2003$1,040 +3.3%$71,840 +5.4%
        2002$1,007 -6.6%$68,160 -4.6%
        2001$1,078 -16.4%$71,470 +81.1%
        2000$1,289 $39,460
        Find assessor info on the county website

        Monthly payment

        Estimated monthly payment$1,822
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
        See how much you could borrow to make a competitive offer.
        Get pre-qualified

        Climate risks

        Neighborhood: 32905

        Getting around

        37 / 100
        Car-Dependent
        47 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • Elementary: Palm Bay Elem
        • Middle: Stone
        • High: Palm Bay

        Source: Space Coast AOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

        A local agent can set up tours, give advice and negotiate with sellers.

        Browse local experts

        Similar homes

            Nearby cities

            Nearby zip codes

            Other Palm Bay Topics

              Search
              Updates
              Favorites
              Home Loans
              Inbox