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$4,000,000

  • For Sale
  • Active
  • Vacant Land
  • 2.46 Acres
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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.

Full Property Details for 1568 Water Dr NE

General

  • Price: $4,000,000
  • Taxes: $2,818 (2025)
  • Status: Active
  • Type: Vacant Land
  • Source: BrevardCounty
  • MLS ID: 1072015
  • Updated: 3/16/2026
  • Added to Site: 45 day(s) ago

Location

  • Area: 340 - NE Palm Bay
  • County: Brevard
  • Subdivision: Palm Bay Map Number 1
  • Driving Directions: Just North of Palm Bay Rd and US1 on Water Dr.

School Information

  • Elementary School: Palm Bay Elem
  • Middle School: Stone
  • High School: Palm Bay

Utilities

  • Sewer: Public Sewer
  • Water: Public
  • Utility Description: Water Available

Structural Information

  • Current Bldg. Use: Mixed Use

Lot Features

  • Lot Size (Acres): 2.46
  • Lot Size (Sq. Ft.): 107,158
  • Frontage: Highway
  • Lot Features: Other

Financial Considerations

  • Tax Amount: $2,818.43
  • Tax Year: 2025
  • Terms: Cash, Conventional, Other

Disclosures and Reports

  • Special Conditions: Corporate Owned
  • Property ID: 28-37-24-27-00005.0-0005.00

Listed by Relentless Real Estate Co.

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Listing agents

— 1568 Water Dr NE —

  • Relentless Real Estate Co.

  • Relentless Real Estate Co.

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 1568 Water Dr NE

School District:Brevard County School District
NameGradesDistance
Palm Bay Elementary School
1200 Alamanda Rd Ne, Palm Bay, FL 32905
PK-60.8 mi
Palm Bay Magnet Senior High School
101 Pirate Lane, Melbourne, FL 32901
9-122.3 mi
Stone Magnet Middle School
1101 East University Boulevard, Melbourne, FL 32901
7-82.2 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 1568 Water Dr NE Get Price Alerts and Save Property

Date
Details
Price
Change
Source
3/05/2026
Listed
$4,000,000
900%
MLS
5/26/2022
Sold
$400,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 1568 Water Dr NE

Year
Property Taxes
Change
Tax Assessment
Change
2025
$2,818
-1%
$156,000
—
2024
$2,844
-34%
$156,000
-32%
2023
$4,308
324%
$229,380
124%
2022
$1,017
—
$102,510
3%
2021
$1,013
—
$99,530
1%
2021
$1,013
-4%
$98,160
4%
2018
$1,052
-1%
$94,180
2%
2017
$1,058
-2%
$92,250
-4%
2019
$1,084
17%
$95,960
6%
2016
$927
-2%
$90,360
1%
2015
$944
—
$89,740
1%
2014
$942
-16%
$89,030
1%
2013
$1,119
—
$87,720
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost for 1568 Water Dr NE

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Listed by Relentless Real Estate Co.

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1568 Water Drive NE, Palm Bay, FL 32905 (MLS# 1072015) is a Vacant Land property with a lot size of 2.46 acres. 1568 Water Drive NE is currently listed for $4,000,000 and was received on March 05, 2026. Want to learn more about 1568 Water Drive NE? Do you have questions about finding other Vacant Land real estate for sale in Palm Bay? You can browse all Palm Bay real estate or contact a Coldwell Banker agent to request more information.

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