4250 South Babcock St

Description:

**Marketing/Sale Description for 4250 South Babcock Street, Melbourne, Florida**

**Asking Price: $9,500,000**

Welcome to a prime investment opportunity at 4250 South Babcock Street, Melbourne, Florida, where 12.63 acres of cleared 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.

Melbourne is recognized for its pro-development stance, and the local government actively supports initiatives that promote workforce housing. This welcoming environment fosters collaboration between developers and city officials, ensuring that your project can move forward efficiently and effectively. The city’s commitment to growth is evident in its infrastructure investments and community planning efforts, making it an ideal location for multifamily housing developments.

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. These well-paid professionals are looking for modern living spaces that offer convenience, comfort, and community, creating a robust market for new developments.

In addition to its economic advantages, the location of this property offers excellent accessibility. With major roadways and the I-95 entrance just a short distance away, residents will benefit from easy commutes to work and leisure activities throughout Brevard County. The proximity to retail corridors, dining options, and recreational facilities further enhances the appeal of this site, making it a desirable destination for potential tenants.

With its prime location, strong community support, and the potential for significant returns, 4250 South Babcock Street is an investment that promises to yield substantial rewards. Take the next step in your development journey and seize this opportunity to be part of Melbourne’s dynamic growth story!


The subject property, located at 4250 South Babcock Street in Melbourne, Florida, boasts a prime position just one mile north of Palm Bay Road NE. Access to the property is conveniently provided along South Babcock Street, ensuring easy ingress and egress for residents and visitors alike.

This expansive site encompasses approximately 12.63 acres and features an impressive 663 feet of direct frontage on South Babcock Street, offering excellent visibility for any development. The property is zoned R-2 and C-1, with an approved use for multifamily development, allowing for a density of up to 120 units per acre, with the possibility of constructing up to four stories or 48 feet in height.

Utilities, including city water and sewer, are readily available on South Babcock Street, making it an attractive option for future development. The location is strategically situated less than three miles from the I-95 entrance, providing seamless access throughout Brevard County. Additionally, it is only one mile from Palm Bay Road, a major retail corridor that features numerous big box stores, enhancing the appeal of the property for multifamily development in this vibrant area.

Overall, 4250 South Babcock Street is ideally located in Melbourne, part of the renowned Space Coast, and presents a significant opportunity for multifamily development in a growing community.