4250 S Babcock St
Melbourne, FL 32901

Welcome to a prime investment opportunity at 4250 South Babcock Street, Melbourne, Florida, where 12.63+- acres of ready-to-build land await your development vision. This
strategically located property is not only ready for immediate construction but also comes with full approval of the current site plan expected within the next 90 days. This is a rare chance to capitalize on a site that has been meticulously prepared for multifamily housing, ensuring a smooth transition from planning to execution. The property has secured Live Local approval for an impressive maximum of 1,525 units, with a height limit of 48 feet. This flexibility allows for
a variety of design options that can cater to different market segments. Currently, the development plan includes 300 units, with 120 of those designated as moderate income housing, addressing the growing demand for affordable living options in a rapidly expanding community. This thoughtful approach aligns with the city’s commitment to
workforce housing, making it an attractive proposition for both investors and developers. Situated in a thriving economic hub, this property is in close proximity to major employers in the aerospace and technology sectors, including Harris, Northrop Grumman, and Lockheed Martin. These high-paying employers not only provide a stable job market but also contribute to the increasing demand for quality housing in the area. Additionally, the Florida Institute of Technology, located just one mile to the north, is home to over 10,000 undergraduate and graduate students focused on engineering and aerospace, further enhancing the potential tenant pool. The demand for high-quality multifamily housing in Melbourne is driven by an influx of young professionals seeking to establish their careers in this vibrant area. With major aerospace and
tech companies like SpaceX and Blue Origin also calling Melbourne home, the region is experiencing a significant demographic shift.