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    3999 Babcock St Melbourne, FL 32901

    For Sale
    Contact for pricing

    67,518 SF Hotel, 100 Keys, Mixed-Use Potential

    Property size:
    67,518 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 1.55-acre fee-simple property, located at 3999 S Babcock St #2, Melbourne, FL 32901 (APN 28-37-15-00-00001), presents a unique opportunity for hospitality development. The existing 67,518 square foot hotel features 100 keys and sits within the vibrant Melbourne City Center, a planned sustainable mixed-use development. This prime location boasts high visibility on Babcock Street, benefiting from a daily traffic count of 36,000 vehicles. Strategically positioned east of I-95 and south of Orlando-Melbourne International Airport, the property enjoys excellent access and proximity to major transportation arteries. The permitted zoning allows for mixed-use development, opening doors to a variety of expansion and redevelopment possibilities. The surrounding area is thriving, encompassing single-family homes, apartments, retail centers, medical and professional campuses, senior living facilities, a university site, a charter school, and diverse dining and entertainment options. This location's appeal extends to residents, professionals, university students, and consumers alike. Furthermore, this property is designated as a Qualified Opportunity Zone under the Tax Cuts and Jobs Act of 2017, offering significant tax advantages to investors. This presents a compelling investment opportunity with substantial potential for growth and return. The property's proximity to Cape Canaveral and the Kennedy Space Center further enhances its appeal and long-term prospects.

    Property Features for 3999 Babcock St

    General Information

    Property type
    Hotels
    Square Feet
    67,518 SF
    Lot Size
    67,518 SF

    HighLights

    • 1.55‑acre fee‑simple property located at 3999 S Babcock St #2, Melbourne, FL 32901 (APN 28‑37‑15‑00‑00001).
    • Existing 67,518 SF hotel with 100 keys in Melbourne City Center, a mixed‑use development.
    • High‑visibility location on Babcock Street with 36,000 daily vehicle count, excellent access to I‑95 and Orlando‑Melbourne International Airport.
    • Mixed‑use zoning allows for redevelopment and expansion opportunities.
    • Qualified Opportunity Zone (QOZ) designation under the Tax Cuts and Jobs Act of 2017, offering significant tax advantages.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hotels

    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?
    Hotel - 67,518 SF Hotel, 100 Keys, Mixed-Use Potential
    Where is this hotel located?
    The property is located at 3999 Babcock St Melbourne, FL.
    What are key features of this property?
    This property features: 1.55-acre fee-simple property located at 3999 S Babcock St #2, Melbourne, FL 32901 (APN 28-37-15-00-00001).; Existing 67,518 SF hotel with 100 keys in Melbourne City Center, a mixed-use development.; High-visibility location on Babcock Street with 36,000 daily vehicle count, excellent access to I-95 and Orlando-Melbourne International Airport.
    Request Owner's contact information
    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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