12.66 ac Approved for Live Local 300 Units
12.66 ac Approved for Live Local 300 units
Marketing description
The opportunity is to acquire a 12.66± acre multifamily development site located at 4038 S Babcock Street in Melbourne, Florida, within Brevard County. The property is approved under the Live Local Act for up to 300 residential units. The site offers a sizable, contiguous footprint suitable for a well scaled multifamily community in the booming high-growth Space Coast market.
The property is located just north of Palm Bay Road NE, east of I-95, and south of W New Haven Ave (US 192), providing convenient access to one of South Brevard County's primary commercial and commuter corridors. The site benefits from proximity to new retail, residential neighborhoods, and employment center in Melbourne and Palm Bay, with strong connectivity to I-95 and the greater Space Coast market.
Investment highlights
- Located within the heart of Space Coast region
- Strong fundamentals (new employment centers, strong growth and demand)
- Recent Comparable Sale 0.25 miles north from subject - Andretti Thrill Park for Multifamily Development at $7.5M in Feb '26"
- Average HH Income of $77,142 within a 1, 3, and 5 mile radius
- Seller willing to contribute land as part of Joint Venture or open to Seller Financing
- Live Local Zoning which allows for significant tax breaks up to 30%
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