9500 Babcock St Sebastian, FL 32976

This exceptional 2,123-acre commercial and farm property in Sebastian, Brevard County, Florida, presents a significant development opportunity. Located on Babcock Street SE, the site boasts over a mile of road frontage and offers convenient access to I-95 via the St. John's Heritage Parkway. A submitted concept plan outlines a substantial residential development of 2,513 lots (50' x 120' typical lot size) and a large-scale multifamily component totaling 3,360 units. The multifamily development is envisioned with two distinct parcels, each featuring four-story buildings containing a mix of one-, two-, and three-bedroom units. The property includes two lakes currently generating approximately $1,750,000 in annual revenue. Situated in the rapidly growing Palm Bay area, this property is ideally positioned to capitalize on the region's robust population growth and strong employment base, including major employers like L-3 Harris Technologies, Renesas Electronics, and Raytheon Technologies. The property is being sold "AS IS, WHERE IS," allowing for thorough buyer due diligence. The asking price is $65,000,000. This is a rare opportunity to acquire a large, contiguous parcel in a high-growth area with significant development potential. All interested parties are encouraged to conduct their own independent investigation and due diligence.