Current Use by Public Records
- Specialty properties
Property Details for 3999 Babcock St
- Lot size
- 8.60 lot acres
- Property type
- Specialty properties
- Property subtype
- Retirement homes
Description
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).
Value Estimations
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AI approach
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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
