4291 5th Pl SW Vero Beach, FL 32968

This is a rare opportunity to acquire a ±7-acre entitled recreational redevelopment site located at 4291 5th Place SW in Vero Beach, Florida. The property is situated in Indian River County, east of I-95 and approximately five miles from the proposed Oslo Road interchange, providing strong regional accessibility and long-term growth potential. The site is zoned RS-3 with a Special Exemption for Health Club use and has recently received site plan approval from Indian River County for a comprehensive club redevelopment. The approved plan includes six padel courts (materials for four courts already on site), eight Har-Tru clay tennis courts, two hard tennis courts, four pickleball courts, and a clubhouse with pool and supporting infrastructure. Formerly operating as a private tennis club, the property retains existing court infrastructure and a partially renovated clubhouse, offering a strong foundation for execution under the approved plan. With county approvals secured, a buyer can significantly reduce entitlement risk and accelerate development timelines. In addition to the approved layout, the site provides flexibility for expanded amenities such as additional courts, wellness components, food and beverage concepts, walking paths, and other complementary recreational uses consistent with zoning. Investment highlights include nearly 304,920 square feet of improved land, approved site plan in place, proximity to major transportation corridors, and increasing residential growth in the Vero Beach submarket. This offering represents a compelling opportunity for recreational operators, private equity groups, sports academies, and developers seeking an entitled land position with immediate development potential and long-term value appreciation.