1853 Wabun Street NE, Palm Bay, FL 32905

Property Description

1853 Wabun St NE: 1.77 acres, direct Indian River Lagoon frontage, Palm Bay. Approved site plan in hand for 35 multifamily units -- 10 one-bed, 20 two-bed, 5 three-bed, averaging 1,149 SF, every unit facing water. Utilities are in. Entitlement risk is gone. A buyer breaks ground instead of fighting a two-year approval process. Plan includes 65 parking spaces, 4 EV chargers, a resort-style pool, mailroom/parcel lockers, and outdoor grilling areas. Palm Bay has land everywhere. It does not have entitled waterfront. Luxury rents run $1,500-$2,200. Waterfront units push $2,400-$3,000+. This site is the scarce side of that spread, already approved.