3999 Babcock St Melbourne, FL 32901
- Lifestyle centers
- 1,916,640 SF
- 44.00 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 3999 Babcock St
- Lot size
- 44.00 lot acres
- Property size
- 1,916,640 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 44-acre mixed-use development opportunity in Melbourne, Florida, presents a unique investment prospect. Located at 3999 S Babcock St #4, 32901, this Class A, fee-simple property boasts a substantial 1,916,640 square feet and is currently vacant. The site, situated on Babcock Street and Pirate Lane, benefits from high visibility due to a 36,000 daily traffic count on South Babcock Street. Its strategic location east of Interstate 95 and south of Orlando-Melbourne International Airport provides unparalleled access and exposure. The planned Melbourne City Center development encompasses a diverse range of uses, including single-family homes, apartments, a retail center (including pharmacy and storefront spaces), a medical and professional campus, a senior living facility, a university site, a charter school, and restaurants and entertainment venues. This comprehensive design aims to create a thriving, sustainable community and innovation hub. The property's APN is 28-37-15-00-00001. Importantly, this development 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 opportunity to capitalize on both the substantial development potential and the attractive tax benefits associated with Opportunity Zone investments. The property is currently vacant, allowing for complete design and development control.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Melbourne
- County
- Brevard
- State
- Florida
- Longitude
- -80.6213
- Latitude
- 28.0517
