This is a Palm Bay land!
The land is located in a desirable residential area
Proximate to shopping centers and golf parks,
And only 30 min drive from Downtown Melbord or the Airport.
The land size is unique and rare!
This land is about 0.5 acres,
Which is double the size of
The popular 0.25 acres built or vacant lots.
A Similar 0.5 land sold for $85K
And other 0.25 are going for $50K’s
New constructions are in crazy demand!
And new homes on 0.25 acres of land
are selling anywhere Between 300-350K
This double-size lot will be a great
Value for any builder or Home Owner.
Hurry Up and be the one to lock this up!
3 lands in the 0.5 miles sold for an average price-acre of $216K. The first land is 0.46 acres. Sold for $85K. The second land is 0.24 acres corner lot. Bought by a developer that plans to build a house on it. The third is 0.23 acres. Sold for $45K.
All comps are in the same subdivision. All comps are vacant land. The first comps are similar in size to the subject, but a little smaller. The second and the third comps are half the size (or less) of the subject.
Considering the similar size comp sold for $85K, and the fact that both 0.25 acres sold for an average of more than $50K, and the that this land size is unique and rare in this area (almost all lands are 0.25), we estimate a retail value for this land of $85,000.
Land Size(Sq. ft.): 20,909
Acres: 0.48 Acres HOA Fee: $300
Water connection: City