Mercury Pines Apartments
Value-Add Opportunity | 14 of 16 Units Remain To Be Renovated | Palm Bay, FL
Marketing description
Offering Memorandum and Financials are available via “Due Diligence” tab. Please contact Andrew Green ([email protected]) to discuss the offering.
Mercury Pines is a two-story, single apartment building located in Palm Bay, Florida. The asset was built in 1986 with wood frame & stucco on concrete slab and is situated on approximately two acres. The property consists of sixteen (16) units that are all two bedroom / one bathroom which are +/- 850 square feet each. Mercury Pines is ideally located on the southeast corner of I-95 and Malabar Road and is near several commercial businesses. Additionally, the asset is a few minutes away from Eastern Florida State College and Health First Hospital, providing sustained tenant demand.
Mercury Pines offers the new ownership an attractive opportunity to finish improving the remaining units to higher quality finish levels. Current ownership has improved 2 out of the 16 units, leaving the remaining 14 units for the new owner to complete and further push the rental income. Additionally, the property has excess acreage which could be utilized to add common area amenities for the tenants. This leaves the new owner an opportunity to significantly improve the value of Mercury Pines.
Investment highlights
- New roof and fascia to be completed and delivered in 2026
- Value-Add opportunity with 14 out of 16 units still available for upgrades to premium finish levels and higher rental rates
- Excess acreage allows for opportunity to add common area amenities such as a dog park, gazebos, grilling stations, or playgrounds, further boosting tenant appeal and community value
- Ease of access to major thoroughfares, less than 5 minutes away from Interstate-95 (I-95) and Malabar Road
- Minutes away from Health First Hospital, a major medical center which features 120 beds and more than 200 skilled physicians
- Located just minutes from Eastern Florida State College, one of Florida’s top-ranked state colleges, serving over 18,000 students and offering more than 150 degree programs.
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