Development Opportunity – Zoned R-5. Situated just minutes from the vibrant Canal Street Historic District and a short ride to the beach, this cleared 0.45-acre lot is a prime canvas for new residential development. Zoned R-5 (Urban Single-Family Residential), the parcel allows up to three single-family or modular homes, each on a minimum 5,000 sq ft lot. With no structures to demolish, utilities nearby, and excellent street frontage (91 feet wide), the lot is ready for immediate subdivision and development. Whether you’re a builder looking to create a small cluster of homes or an investor seeking strong long-term rental yield, 108 S Myrtle Ave offers flexibility, location, and real growth potential. Located in one of New Smyrna Beach’s most up-and-coming infill areas—close to shops, schools, dining, and the Intracoastal—this opportunity won’t last long.
Financial Considerations
Price:
$450,000
HOA Fee:
N/A
Tax Amount:
$5369.93
Price per SqFt:
$20.93
Tax Legal Description:
LOTS 5 & 6 GRIMSLEY & HEALEY SUB LEWIS HOMESTEAD MB 5 PG 70 PER OR 3957 PG 1422 PER OR 6095 PG 1862 PER OR 6210 PG 3235 PER OR 6574 PG 3981 PER OR 7363 PG 4475 PER OR 8331 PG 2262 PER OR 8535 PG 4425