Current Use by Public Records
- Hospitality properties
Property Details for 3999 Babcock St
- Lot size
- 1.55 lot acres
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
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.
Value Estimations
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Melbourne
- County
- Brevard
- State
- Florida
- Longitude
- -80.6213
- Latitude
- 28.0517
