Prime Opportunity Zone Development Parcel
Opportunity Zone Development Parcel in Cocoa, Florida
Marketing description
Discover a prime development opportunity in Cocoa, Florida, with this expansive 19.28-acre parcel, ideally situated within an Opportunity Zone. This property, identified by Brevard County Tax Parcel IDs 24-35-24-00-758 and 24-35-24-00-759, offers a unique investment potential for developers seeking residential units within an Opportunity Zone.
Currently undeveloped, this parcel presents a blank canvas for visionary developers. The property is strategically located with frontage on Range Road North, providing excellent accessibility to Cocoa High School and many national retailers along Clearlake Road.
The site is designated for Low-Density Residential use under Cocoa's Comprehensive Plan, with existing RU-1-7 zoning suitable for single-family residential development. However, the potential to rezone to a Planned Unit Development (PUD) allows for increased density and a mix of housing types, accommodating up to 231 dwelling units.
Investing in this property offers the added benefit of Opportunity Zone tax incentives, making it an attractive proposition for developers and investors looking to capitalize on significant tax breaks while contributing to community growth. Engage in a transformative project that leverages Cocoa’s development potential and strategic location.
Surrounded by residential, commercial, and conservation areas, this property is perfectly poised for a residential community that complements the existing neighborhood fabric.
Ownership has engaged in a preliminary entitlement plan with numerous TH and SF concepts. All engineering and third-party reports are available for review.
Contact us today to explore this exceptional opportunity.
Investment highlights
Property Overview:
Location: Cocoa, Florida
Size: 19.28 acres (two parcels, each 9.64 acres)
Identification: Brevard County Tax Parcel IDs 24-35-24-00-758 and 24-35-24-00-759
Current Condition: Undeveloped, dense vegetation and wetlands
Frontage: Range Road North, a collector road
Flood Zones: Majority in Flood Zone X (moderate risk), small portion in Flood Zone AE (high risk)
Utilities: Not currently served by City water or sewer
Council District: Located in Cocoa City Council District 3
Zoning and Land Use:
Future Land Use (FLU): Low Density Residential
Zoning: RU-1-7, Single-Family Residential
Development Potential:
Maximum density of 7 Dwelling Units Per Acre (du/ac)
Up to 12 du/ac as part of a planned residential development
Potential for up to 134 dwelling units with current zoning
Up to 231 dwelling units if developed as a planned residential development
Development Opportunities:
Potential Uses: Residential, Institutional, Open Space/Recreational
Current Zoning Allowances: Single-family residential development
Rezoning Possibility:
Can accommodate Single Family or Attached Residential Development.
To accommodate townhouses, the property needs rezoning
Engineers Recommend rezoning to Planned Unit Development (PUD) for increased density and mixed housing types
Surrounding Area:
North: Low Density Residential & Commercial (PUD & C-N)
South: Low Density Residential (RU-1-7)
East: Commercial & Medium Density Residential (RU-2-15)
West: Conservation (RU-1-7)
Investment Highlights:
Opportunity Zone: Located in a designated Opportunity Zone offering potential tax benefits for investors
Prime Location: Situated in a rapidly developing area with easy access to major roads
Flexible Development Potential: Suitable for various residential developments with possible rezoning to PUD for higher density and diverse housing options
Capture Dynamic Market: The parcel is ideally suited for fee-simple sales, traditional rental units, or a Built-to-Rent community.
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