120 Old Mission RdNew Smyrna Beach, FL 32132

This exceptional 2.67-acre parcel, ideally situated off Old Mission Road near I-95 and Indian River Boulevard in Edgewater, Florida (Volusia County, zip code 32132), presents a compelling investment opportunity. Currently zoned for multifamily use, including apartments and mobile home parks, this property offers significant potential for development. The land boasts a substantial size (approximately 50 x 2670 feet), representing one of the largest available tracts in the prime Edgewater corridor. With five existing units and 26 pads, the property is priced at $48,999, representing a compelling $20,000 per acre land value and a $9,799.80 price per unit. The property is vacant and offers 50,000 square feet of air rights. The property's APN is 843801000981. The permitted zoning (MDR, Multifamily, Apartments) allows for various development scenarios, and a zoning change may be possible. This is a rare opportunity to acquire a large, well-located parcel in a high-demand area. The property is being sold as-is by the private owner. All cash offers will receive a written response within 24 hours. The property is classified as Class D with a 23% cap rate.