53 St Fellsmere, FL 32948

Property Details for 0 53 St

Lot size

2,146.00 lot acres

Property type

Land

Property subtype

Farms

Description

This exceptional 2,146-acre ranch in Fellsmere, Florida, presents a unique investment opportunity. The property houses the Basin 22 Wetland Mitigation Bank, permitted by the St. Johns River Water Management District (Permit # 123323-2). The bank currently offers 297.32 state credits and 257.91 federal credits for sale, with substantial additional credits anticipated from ongoing enhancements. Credits are priced at $160,000 per unit. The bank's service area encompasses the Melbourne to Fort Pierce corridor on Florida's east coast, addressing the high demand for mitigation credits in this region. The property includes a conservation easement and adheres to stringent operational requirements, ensuring the long-term preservation and restoration of the wetlands. The bank's permitted capacity is up to 660 total credits (237 herbaceous and 422 forested), further augmented by 736.88 federal freshwater UMAM credits approved by the U.S. Army Corps of Engineers. The property's ongoing management includes restoration, enhancement, preservation, and a prescribed fire program. While the highest and best offers will be considered until 5:00 PM EST on February 18, 2022, the sellers retain the right to accept an offer before or after this date. Terms and conditions are subject to change. Detailed information is available upon request. The property is located at 53rd Street, Fellsmere, FL 32948, in Indian River County.