When was property at 1568 Water Drive Northeast built and last sold?

The property at 1568 Water Drive Northeast was built in 1921 and last sold on May 26, 2022 for $400,000.

How much is this home worth?

The estimated value of the home located at 1568 Water Drive Northeast is $4,040,000.

What are some comparable homes to 1568 Water Drive Northeast?

There are currently no comparable homes to 1568 Water Drive Northeast.

Palm Bay

32905

1568 Water Drive NE

Map

$4,000,000

↑ $1M (33.3%)

● Land - For Sale

1568 Water Drive NE

Palm Bay, FL 32905

Studio

0 Bath

$19,876

Est. Monthly

About This Property

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.

Unit Size

Days on Market

199 days

Land Size

2.46 acres

Price per sqft

Property Type

Land

Property Taxes

$235

HOA Dues

Year Built

1921

Listed By

JENNIFER BRUWELHEIDE BROWN

[email protected]

NOMAD REALTY

Scott Loveridge

[email protected]

Relentless Real Estate Co.

Payment Calculator

Cap Rate Calculator

Last updated: 3 months ago (Space Coast MLS #1072015)

Price History

Date / Event	Date	Event
Jul 11, 2026	Price Increased	$4,000,000 ↑ $1M (33.3%)
Price Increased
Jun 8, 2026	Price Decreased	$3,000,000 ↓ $1M (25%)
Price Decreased
Mar 5, 2026	Listed by Relentless Real Estate Co.	$4,000,000
Listed by Relentless Real Estate Co.
May 27, 2022	Sold	Premium
Sold
Oct 7, 1999	Sold	Premium
Sold

Property Highlights

Exterior Details

Lot Features: Other

Lot Size Area: 2.46

Lot Size Units: Acres

Lot Size Acres: 2.46

Lot Size Square Feet: 107158

Water Source: Public

Financial Details

Tax Annual Amount: $2,818

Utilities Details

Sewer : Public Sewer

Building Info

Overview

General

Year Built: 1921

Effective Year Built: 1980
Building Count: 1
Bedroom Count: 2
Bathroom Count: 1
Full Bathrooms: 1
Partial Bathrooms: 1
Bathroom Plumbing Fixtures: 5
Building Condition: 0
Building Quality: 10
Construction Type: 6
Building Style: 0
Exterior Walls Type: 17
Interior Walls Type: 0
Roof Shape Type: 7
Roof Cover Type: 15
Floor Count: 200
Living Units: 1
Floor Cover: 0
Basement Type: 0
Basement Area: 0
Garage Type: 0
Parking Space Count: 0
Patio Type: 5
Porch Type: 35
Pool Type: 0
Location Influence Type: 179

Dimensions

Lot Size Square Feet: 31,363

Total Building Area: 1,920
Gross Building Area: 1,920
Building Area: 1,344
Building Area Measurement: L

Heating and Cooling

Fireplace Count: 1

Air Conditioning: 6
Heating: 14
Heated Square Feet: 1,344
Heating Fuel Type: 0

Utilities

Sewer System: 0

Water Service: 0

Building

Building Type: 0

Property Class: R
Subdivision: PALM BAY MAP NUMBER 1
Land Acres: 0000000720
Standard Land Use Code: 1001
County Land Use Code: 0110
State Land Use Code: 001
Legal Description 1: PALM BAY MAP NUMBER 1 LOTS 5,6 & VAC E 10 FT OF OAK ST ON W BLK 5

Neighborhood

School District Name: Brevard County School District

Census Tract: 065123

Zoning

Zoning: BMU

Geography

Assessors Map Reference: 358

Account Number: 2832821
Parcel: 28-37-24-27-00005.0-0005.00
Block: 5
Lot: 5
Meridian: SEC 24 TWN 28S RNG 37E
Municipality: PALM BAY
Latitude: 28.0371
Longitude: -80.5832

Address

Full Address: 1568 Water Dr Ne

Address - House Number: 1568
Street Segment Direction: NE
Address - Street Name: Water
Address - Suffix Type: Dr
State: FL
City Name: Palm Bay
Carrier Code: C005
4-Digit Zip Code: 3668
Zip Code: 32905

Valuation

Tax

Total Area: 1,661

Tax Year: 2022
Tax Amount: $101,656
Tax Rate Code Area: 34U0

Appraisal Valuation

Standard Deviation: 0.1961

Valuation Date: Jan 03, 2024
Confidence Score: 73
Final Value: 351,021
High Value: 419,859
Low Value: 282,182

Market Valuation

Market Total Value: $224,000

Assessments Valuation

Assessed Year: 2022

Assessed Total Value: $102,510

Sales

Current Sale Contract Date: May 26, 2022

Current Sale Recording Date: May 27, 2022
Current Sale Price:

Premium
Current Sale Document Type: 71
Current Sale Input Document Number: 134800
Previous Sale Recording Date: Oct 07, 1999
Previous Sale Contract Date: Jul 20, 1999
Previous Sale Amount: $76,000
Previous Sale Document Type: 71

Data used for valuation calculations is provided by RealtyHop, and other third party sources

Request mortgage information redaction

Comparables

About Palm Bay

Stats & Trends

Median Asking:

$326,990

Sale Price/ft²

$191

Below Asking

0.02%

Average Days on Market

Average Home Size

1785 ft²

Average Home Age

17.3 years

Currently For Sale

1530 Listings

Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

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Rentals Near You

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Listed by: Jennifer Brown, Relentless Real Estate Co.
Last Updated: 3 months ago
Data Source: Space Coast MLS, MLS# 1072015

IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.