Pines Apartments
Closed10 Player Rd, Indian Harbour Beach, FL 32937
Property type
Multifamily
Unit / Space count
194
Price
Call For Details
Building size
252,882 sf
Rentable area
252,882 SF
Year built
1965
Year renovated
Occupancy
Zoning code
Lot size
29.76 Acres
Sold/status
Sold · Date unknown
Bedroom count
Property description
Pines Apartments, a 194-unit community in the high-growth Space Coast market of Indian Harbour Beach, Florida, has recently been sold after more than 25 years under private ownership. Originally acquired in 1997, the property spans approximately 30 acres with over 1,200 feet of canal frontage on the Intracoastal Waterway. Currently, it operates at less than 50% occupancy, presenting a significant value-add opportunity with potential for additional units. Indian Harbour Beach, a sought-after coastal city in Brevard County, is known for its scenic waterfronts, relaxed beachside atmosphere, and strong economic ties to the booming aerospace and technology industries. The city benefits from its proximity to major employment hubs such as Patrick Space Force Base, Kennedy Space Center, and the growing tech corridor in Melbourne. Pines Apartments is ideally located just one mile from the beach and within minutes of essential conveniences like Publix (1.0 mi), the Eau Gallie Arts District (2.8 mi), Downtown Melbourne (6.7 mi), and Patrick Space Force Base (6.8 mi). With its prime location and redevelopment potential, the property is well-positioned for new ownership to capitalize on the continued demand and growth in Florida’s Space Coast region.
Property highlights
- 194-Unit Community in Florida’s High Growth “Space Coast” Market
- Operated For 25+ Years Under Private Ownership, Last Sold in 1997
- Massive Value-Add Opportunity with Less than 50% Occupancy at Time of Sale and Opportunity to Add Additional Units
- Property Boasts 30 +/- acres of Land and Over 1,200 Feet of Canal Frontage on the Intracoastal Waterway
- Extremely Well-Located Near the Beach (1.0mi), Publix (1.0mi), the Eau Gallie Arts District (2.8mi), Downtown Melbourne (6.7mi), and Patrick Space Force Base (6.8mi)