8955 Puerto Del Rio Drive, Cape Canaveral FL 32920

$8,250,000

Description

MULTI-FAMILY INFILL OPPORTUNTY 112 UNITS. Positioned within the Economic Overlay District of Cape Canaveral, the subject property represents a fully entitled ±7.5-acre multifamily development opportunity consisting of seven approved mid-rise residential pads. Each development pad encompasses approximately ±1 acre or greater and is approved for a four-story multifamily structure to a maximum building height of 45 feet. Current entitlements allow for 16 residential units per building, totaling 112 approved multifamily units across the site. All horizontal infrastructure improvements are in place, including paved roadways, municipal water, sanitary sewer, electrical service, drainage, and utility connectivity, allowing for immediate vertical development execution. Positioned near the final undeveloped waterfront corridor within Cape Canaveral and neighboring the Banana River, the asset is surrounded by an established coastal residential and hospitality corridor comprised of condominium communities, hotels, mixed-use assets, and multifamily developments. The project benefits from exceptional regional connectivity and a highly desirable coastal backdrop highlighted by world-famous Port Canaveral, the Intracoastal Waterway, and the Atlantic Ocean beaches, positioning the development within one of Central Florida's most supply-constrained and rapidly appreciating waterfront submarkets.

Listing courtesy of James Kenneth Edmunds, One Sotheby's Int'l Realty · Updated 9/3/2026