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201 S Burnett Rd - Cocoa West
36.83 Acres of Residential Land Offered at $7,500,000 in Cocoa, FL 32926
Investment Highlights
- Proximity to Notable Medical & Educational Institutions: Rockledge Regional Medical Center, Eastern Florida State College, UCF Cocoa Campus
- Proximity To Retail: More than 7.8 m.s.f. of retail within a five-mile radius of the Property
- Connectivity to Major Office Submarkets: Over 132 m.s.f. of office space within a one-hour drive from the Property
- 5-Mile Demographics: Population of 80,688 (8.9% growth since 2010), $76,486 Avg Household Income (29.6% growth since 2010), 58% White Collar Workforce
Executive Summary
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Property Facts
| Price | $7,500,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Total Lot Size | 36.83 AC |
| Price | $7,500,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 36.83 AC |
1 Lot Available
Lot
| Price | $7,500,000 | Lot Size | 36.83 AC |
| Price Per AC | $203,638 |
| Price | $7,500,000 |
| Price Per AC | $203,638 |
| Lot Size | 36.83 AC |
Address: 201 S Burnett Rd, Cocoa, FL 32926 Land Area: 36.83 Gross Acres 24.0 Developable acres (wetland mitigation to increase developable acres) Zoning: RU-2-10, 10units/acre (Medium-density multiple-family residential) Approved for 240 townhomes
Description
The Property has site plan approval for 240 townhome units. The Melbourne/Cocoa/Rockledge MSA is among the country’s fastest-growing metros with 2.6% unemployment and 4.1% job growth as of Q4 2022. The metro area has also seen 30% effective rent growth in the last 24 months while maintaining 95%+ occupancy. The Property is situated one block from State Road 520, providing direct access to Downtown Cocoa (10 minutes) as well as Cocoa Beach (25 minutes). There is a notable medical and educational presence in the submarket, with Rockledge Regional Medical Center (298 beds, 1,800 employees) , Eastern Florida State College (15,000 students and 800 employees), and UCF-Cocoa Campus (500 students and 150 employees) all within five miles of the Site. The Property also enjoys five-minute access to Interstate-95, providing convenient connectivity to the Orlando, Daytona Beach, and Melbourne office markets: totaling 132 m.s.f within a one hour drive. Additionally, there is more than 7.8 m.s.f. of retail and restaurants within five miles of the Property.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $146,330 | Total Assessment | $224,490 |
PROPERTY TAXES
zoning
| Zoning Code | RU-2-10 (Medium-Density Multiple Family Residential) |
| RU-2-10 (Medium-Density Multiple Family Residential) |
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Charles Crapse -
Marshall Finkelstein -
CBRE
Presented by
201 S Burnett Rd - Cocoa West
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