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    3999 Babcock St Melbourne, FL 32901

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    For Sale
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    8-Acre Mixed-Use Redevelopment Opportunity

    Property size:
    374,616 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 8.6-acre site in Melbourne, Florida, presents a unique redevelopment opportunity. Located at 3999 S Babcock St #5, 32901, this Fee Simple property boasts 374,616 square feet and is zoned for Mixed-Use Development. The property's prime location on Babcock Street and Pirate Lane offers high visibility with a daily traffic count of 36,000 vehicles. Its strategic position east of I-95 and south of Orlando-Melbourne International Airport ensures excellent accessibility. The planned Melbourne City Center development encompasses a diverse range of uses, including single-family homes, apartments (50 units currently planned), retail space, medical and professional offices, a senior living facility, a university site, a charter school, and restaurants and entertainment venues. This development is situated in a Qualified Opportunity Zone, offering significant tax advantages to investors under the Tax Cuts and Jobs Act of 2017. Investors can leverage this program to defer capital gains taxes, potentially reducing tax liabilities significantly. The property's Class A designation reflects its high-quality potential and the significant upside for future development. This is a rare chance to be part of a vibrant, growing community on Florida's Space Coast, near Cape Canaveral and the Kennedy Space Center. The APN is 28-37-15-00-00001. The year of construction is to be determined (TBD).

    Property Features for 3999 Babcock St

    General Information

    Property type
    Retirement homes
    Square Feet
    374,616 SF
    Class
    A
    Lot Size
    374,616 SF

    Building Details

    Units
    50

    HighLights

    • 8.6‑acre mixed‑use development site in Melbourne, FL.
    • 374,616 square foot Fee Simple parcel located at 3999 S Babcock St #5, 32901, with high visibility on Babcock Street and Pirate Lane (36,000 VPD).
    • Excellent accessibility, east of I‑95 and south of Orlando‑Melbourne International Airport, within the planned Melbourne City Center development.
    • Located in a Qualified Opportunity Zone, offering significant tax advantages under the Tax Cuts and Jobs Act of 2017.
    • APN: 28‑37‑15‑00‑00001.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retirement homes

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.6212943
    Latitude
    28.0517219

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    FAQs

    What type of property is this?
    Retirement home - 8-Acre Mixed-Use Redevelopment Opportunity
    Where is this retirement home located?
    The property is located at 3999 Babcock St Melbourne, FL.
    What are key features of this property?
    This property features: 8.6-acre mixed-use development site in Melbourne, FL.; 374,616 square foot Fee Simple parcel located at 3999 S Babcock St #5, 32901, with high visibility on Babcock Street and Pirate Lane (36,000 VPD).; Excellent accessibility, east of I-95 and south of Orlando-Melbourne International Airport, within the planned Melbourne City Center development.
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    3999 Babcock St Melbourne, FL 32901
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    Melbourne, FL 32901
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3999 Babcock St Melbourne, FL 32901
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