Living in Florida's Space Coast
Cape Crossing Resort
Cape Crossing Resort sits on the Canaveral Barge Canal off North Courtenay Parkway, built between 2017 and 2020 on the site of the old Tingley RV Park and Marina. It is two properties under one name: a six story condominium tower of water view units and a group of island style townhomes, each with its own association, plus a marina, a pool and a fitness center.
Cape Crossing Resort In Merritt Island, Florida
Start with the ownership structure, because it is the single most misunderstood thing about this address. Cape Crossing is not one association. The tower units are governed by Cape Crossing Condominium Association, Inc., a Florida nonprofit corporation active since 2015, and you buy a condominium interest with an undivided share of the common elements. The townhomes are governed by Cape Crossing Townhomes Homeowners Association, Inc., registered the same year, and you take fee simple title to the townhome and its footprint. Same gate, same amenities, two different sets of documents.
The site itself has history. The Merritt Island Redevelopment Agency documents Cape Crossing as a redevelopment of the former Tingley RV Park and Marina, which had operated on the barge canal for more than fifty years before the property came down. Tristar Development Partners built it back as 47 townhomes and a six story tower holding 35 water view residences. Tingley Drive is still the access road off Marine Harbor Drive, and Ivory Coral Lane and Cutlass Point Lane carry the addresses.
Rental use is why most buyers are here. Nightly and weekly rental is permitted at Cape Crossing, which is genuinely uncommon on Merritt Island, where most residential neighborhoods either restrict short term rental outright or say nothing and leave you exposed. A resort operation runs on site with its own reservation program, and most units here are held as income property rather than as a primary home. Read the current declaration and rules before you write an offer, because rental provisions can be amended by the membership.
Carrying costs are the highest you will find in a residential setting on this island. Monthly assessments cluster around $767 and around $1,170 depending on unit type and structure, with at least one owner paying near $1,047. That is a real number to underwrite. In exchange the assessment covers grounds, the heated pool and spa, the sauna, the fitness center, the clubhouse, the secured lobby on the tower, and cable service. Insurance and reserve funding for waterfront concrete construction sit inside that figure too.
The market behaves like an investment market, not a housing market. Units run 1,266 to 1,896 square feet, three or four bedrooms, two or three baths, built 2017 through 2020, and pricing has ranged from $372,500 to $998,000 with the middle around $440,000 and roughly $289 a square foot. Time to contract runs near 91 days and sellers have been settling around 93.8 percent of their original asking price. Buyers here are running return math, and return math negotiates.
Cape Crossing Resort At A Glance
The ownership, cost and water facts that actually govern a purchase at Cape Crossing.
| Detail | What you get |
|---|---|
| Location | On the Canaveral Barge Canal off North Courtenay Parkway, via Marine Harbor Drive and Tingley Drive |
| Built | 2017 to 2020 |
| Developer | Tristar Development Partners, on the former Tingley RV Park and Marina site |
| Property types | Condominium residences in a six story tower and island style townhomes |
| Home size | 1,266 to 1,896 square feet, about 1,483 typical |
| Bedrooms | 3 to 4 |
| Bathrooms | 2 to 3, typically 3 |
| Lot size | 0.01 to 0.03 acre, reflecting a condominium or townhome footprint rather than a yard |
| Construction | Concrete and block with stucco, balconies on many units |
| Garage | One bay, typical on the townhomes |
| Association | Two: Cape Crossing Condominium Association, Inc. for the tower and Cape Crossing Townhomes Homeowners Association, Inc. for the townhomes, both mandatory. Monthly assessments cluster near $767 and near $1,170, with some at about $1,047 |
| Managed by | An outside managing agent under contract to each association |
| Amenities | Heated community pool, spa, sauna, fitness center, clubhouse, secured lobby, marina and boat dock, waterfront bar and grill |
| Rentals | Nightly and weekly rental permitted, subject to the current governing documents |
| Water frontage | Every residence is waterfront on navigable canal water |
| Water body | Canaveral Barge Canal, with the Indian River west and the Banana River and Canaveral Lock east |
| Utilities | Public water and public sewer |
| Price range | $372,500 to $998,000, around $289 per square foot |
Cape Crossing Resort Details
Short Term Rental Is Allowed
This is the headline. Nightly and weekly rental is permitted at Cape Crossing, which very few residential addresses on Merritt Island can say. It is why the property draws buyers from outside Brevard County entirely. Confirm the current declaration and any rental program agreement before you commit.
Two Legal Structures, One Community
A condominium interest in the tower and fee simple title in the townhomes are different animals. Different documents, different budgets, different reserve obligations, different lender treatment. Know which one you are buying before you tour, because the answer changes your monthly number and your exit.
A Working Marina At Your Door
The marina is not decorative. Slips, a boat dock, and boat, kayak and paddleboard rentals operate on site, and the barge canal outside is navigable water. It is one of the few places on the island where a boat is a walk from the unit rather than a drive.
Amenities Included In The Assessment
Heated pool and spa, sauna, fitness center, clubhouse, secured lobby and cable service are all folded into the monthly figure. If you were assembling those separately you would spend real money, and the resort keeps them at commercial standard rather than neighborhood standard.
The Water Route Both Directions
Head west on the barge canal and you reach the Indian River with no bridge in the way. Head east and you pass under the Courtenay Parkway bascule, which carries about 21.6 feet closed, on the way toward the Banana River and the Canaveral Lock. Know your air draft before you buy a boat to keep here.
Priced On Yield, Not On Comparables
Time to contract has run near 91 days and sellers have been landing close to 94 percent of original asking price. That is what an investor market looks like. If you are patient and you can document rental performance, there is room to negotiate on both sides of the table.
Homes For Sale In Cape Crossing Resort
Current condominium and townhome availability at Cape Crossing Resort. Watch the property type on each one, since the tower and the townhomes carry different documents and different monthly assessments.
Cape Crossing Resort Frequently Asked Questions
Can I rent my unit nightly at Cape Crossing?
Yes. Nightly and weekly rental is permitted here, and a resort operation runs a reservation program on site. Rental rights come from the governing documents, so read the current declaration and rules for the specific association your unit belongs to before you buy.
Is Cape Crossing a condominium or a townhome community?
Both. The six story tower is a condominium under Cape Crossing Condominium Association, Inc. The 47 island style townhomes are fee simple, governed by Cape Crossing Townhomes Homeowners Association, Inc. Each has been an active Florida nonprofit corporation since 2015.
What are the monthly fees?
They cluster near $767 and near $1,170 a month depending on the unit and the association, with at least one owner near $1,047. The figure covers grounds, pool and spa, sauna, fitness center, clubhouse, secured lobby, cable and the insurance and reserves on waterfront concrete construction.
Is every unit on the water?
Yes. All residences at Cape Crossing front navigable water on the Canaveral Barge Canal. Water views are the standard here, not a premium upgrade, though tower elevation and orientation still change what you actually see.
What is the run to open water from the marina?
West on the barge canal to the Indian River with no bridge. East toward the Banana River and the Canaveral Lock, passing under the State Road 3 Courtenay Parkway bascule at about 21.6 feet closed. The lock, built in 1964, is the largest navigation lock in Florida, free to use, and takes roughly 20 to 30 minutes to transit.
Will a lender finance one of these?
Financing a residence inside an active nightly rental program is not the same process as financing a primary home, and condominium approval adds another layer. Sort your financing before you go under contract rather than after, and expect the association budget and reserve study to be reviewed.
How large are the units?
From 1,266 to 1,896 square feet, typically around 1,483, in three and four bedroom layouts with two or three baths. Townhomes generally include a one car garage. Everything was built between 2017 and 2020, so systems are current.
What was here before?
The Tingley RV Park and Marina, which operated on the barge canal for over fifty years before it was redeveloped. The Merritt Island Redevelopment Agency cites Cape Crossing as one of its redevelopment successes. Tingley Drive still carries the name.
Ivory Coral Lane, Merritt Island 32953
Cape Crossing occupies the south bank of the Canaveral Barge Canal just west of North Courtenay Parkway, near the State Road 528 interchange. The approach is a little counterintuitive: coming north on Courtenay you cross the barge canal bridge, make the U turn at the first light, then take Marine Harbor Drive and Tingley Drive down to Ivory Coral Lane and Cutlass Point Lane. It reads as central Merritt Island on paper and as north end waterfront in person.
For a visitor or a renter, the location is the product. Port Canaveral and the cruise terminals are a short run east. Kennedy Space Center is roughly seventeen minutes north. Cocoa Beach is over the 520 causeway to the southeast. State Road 528 puts Orlando International Airport and the theme park corridor within about an hour, which is exactly why the nightly rental demand exists here and does not exist in most Merritt Island neighborhoods.
Near Cape Crossing Resort In Merritt Island
Considering Cape Crossing Resort?
Cape Crossing is a hospitality asset wearing a residential address, and it should be underwritten that way: assessment, insurance, reserves, the operator split, occupancy and the difference between the condominium documents and the townhome documents. My partner Nichole and I will pull the right set for the unit you are looking at and walk the marina with you. Call or text (321) 212-7676.
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