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- LoopNet Team
4250 S Babcock St
Melbourne, FL 32901
The Oasis at Melbourne Development Site · Land For Sale · 12.63 AC
Investment Highlights
- Full approval on current site plan expected within 90 days
- Current plan includes 300 units, with 120 designated as moderate-income units
- Only 1 mile from Palm Bay Road, a major retail corridor with numerous big box stores
- Live Local approval secured for up to 1,525 units with 48-foot height limit
- Qualifies for $149,358 in deferred impact fees
- Less than 3 miles from I-95 entrance, providing easy access throughout Brevard County
PROPERTY FACTS
| Property Type | Land | Total Lot Size | 12.63 AC |
| Property Subtype | Residential |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 12.63 AC |
Description
Colliers is pleased to present Oasis Melbourne, an exceptional multifamily development opportunity located in the heart of Melbourne, Florida. This prime 12.63-acre site, situated just one mile north of Palm Bay Road NE on South Babcock Street, offers an unparalleled chance to capitalize on the burgeoning demand for high-quality housing in America’s new “High Tech Titan.” With approximately 663 feet of direct frontage on South Babcock Street, the property boasts excellent visibility and accessibility. Oasis Melbourne has secured Live Local approval, allowing for the development of up to 1,525 units with a maximum height of 48 feet across four stories. The current plan includes 300 units, with 120 designated as moderateincome units. Additionally, the development qualifies for $149,358 in deferred impact fees, further enhancing its financial appeal. The flexible nature of the Live Local approval allows for administrative increases in unit count post-closing, providing significant upside potential for investors. The average median income for Brevard County is $100,000, making the subject project profitable compared to other counties.
PROPERTY TAXES
| Parcel Number | 28-37-16-00-00777.0-0000.00 | Improvements Assessment | $0 |
| Land Assessment | $205,650 | Total Assessment | $205,650 |
PROPERTY TAXES
zoning
| Zoning Code | R-2;C-l (Multifamily) |
| R-2;C-l (Multifamily) |
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