Agora Village - Permit-Ready 35-Unit Multifamily Development Site

Highlights:

• Permit-ready: City of Palm Bay site plan approval stamped April 29, 2025
• 35 units on 1.79 acres, 19.6 UPA, RM-20 with HDR future land use
• Two 2-story garden-style buildings, all 2BR/1BA, 857 SF average
• Civil site plan set and building construction documents in the due diligence package
• 70 parking spaces, 2.0 per unit
• City water and sewer at the site, Flood Zone X
• $25,714 per unit

Description:

Agora Village is a permit-ready multifamily development site in Palm Bay: 35 units on 1.79 acres, zoned RM-20 with High Density Residential future land use. The site plan carries the City of Palm Bay's approval stamp dated April 29, 2025 (Site Plan Permit #1369, Engineering Revision RTAP25-00002).

The approved program is two 2-story garden-style walk-up buildings of 18 and 17 units, a density of 19.6 units per acre. Every unit is a two-bedroom, one-bath from 740 to 940 SF, averaging 857 SF, for 29,995 net rentable SF. Parking is 70 surface spaces, 2.0 per unit. Building coverage is 20.11 percent against 40 percent allowed, and stormwater is retained on site in a 0.45-acre pond.

City of Palm Bay water and sewer serve the site through 8-inch mains in Agora Circle SE. Unit addresses are assigned at 1843 and 1857 Agora Circle SE. Flood Zone X.

Due diligence package:
- Approved civil site plan set, 18 sheets, MBV Engineering
- Building construction documents for both buildings, 39 sheets each, Advanced Engineering Consultants
- Boundary survey, Brunner Hagen
- Soil and permeability report, KSM Engineering and Testing
- Offsite right-of-way cost estimate and perimeter wall bid set
- City of Palm Bay impact fee receipts totaling $100,402.34, dated January 11, 2024

Agora Circle SE in Port Malabar, about a quarter mile from Malabar Road and Babcock Street and half a mile from I-95. The adjoining lots on the block already carry multifamily buildings.

City of Palm Bay water and sanitary sewer. An 8-inch water main and an 8-inch sewer main run in Agora Circle SE, with an existing 1-inch water service and a sanitary manhole in the street. Reclaimed water is not available on the City's availability layer.

Three platted lots of about 100 by 260 feet each, about 300 by 260 feet overall, fronting Agora Circle SE, an 80-foot public right of way. The approved site plan (MBV Engineering, sheet C-6, stamped approved April 29, 2025) shows two 2-story buildings of about 8,077 SF footprint each, 70 parking spaces, building coverage of 20.11 percent against 40 percent allowed, and a building height of 25 feet against 70 feet allowed. Setbacks on the plan are 25 feet front, 26 feet side, and 48 feet rear. Stormwater retention is a 0.45-acre on-site pond. Flood Zone X, FIRM panel 12009C 0680 G.

Lots 16, 17, and 18, Block 1983, Port Malabar Unit Forty, Plat Book 21, Pages 29 through 33, Brevard County, Florida

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