Property 8986786

~Investment/Income-Producing Land

9790 Babcock Street Southeast Palm Bay FL 32909  |  Brevard County, FL
  • $23,000,000
  • 1,098 acres

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Listing Status: Active
Listing Type: Sale
Property Type(s):
Irrigated: No
Residence: No
Property ID: 8986786
Property Website

Property Description

The property offering consists of approximately 1098 acres of investment/
income-producing residential land acreage.
Parcel IDs: 30-37-09-00-500 / 30-37-16-00-1 / 30-37-08-HF-500 / 30-37-17-HF-1 /
30-37-08-HF-500 / 30-37-10-00-250
Tax Accounts: 3000277 / 3000368 / 3000827 / 3000829 / 3000365 / 3000569
Traffic Counts - Babcock Street: 4,020
Frontage on Babcock Street: 5,365 feet / 1.01 Mile
Frontage on Willowbrook Street: 10,795 feet / 2.04 Mile
The property offering consists of approximately 1098 acres
of investment/income-producing residential land acreage.
There are 250 acres located on the northwest corner of the
property which has been designated and permitted as a fill
borrow put. It has been determined that there is
approximately 2 million cubic yards of usable fill that
remains available on the property. With a market value of
$8.00/cubic yard, this would mean a market value of
approximately $16 million in possible investment income.
Zoning: Currenty zoned in Unincorporated Brevard County
as GU, which is designated for residential dwellings with a
density requirement of 1 Residence/5 Acres. The Future
Land Use for the property is residential RES-1, with a density
requirement of 1 Residence/2.5 acres, with possible
commercial and borrow pit as possible uses.
Utilities: Well and Septic. The property is not currently
incorporated into the City of Palm Bay utility grid, but the
property is adjacent to the service area and can possibly be
annexed into The City of Palm Bay's service district at a later
date.
Access: Babcock Street is the closest north-south corridor
directly adjacent to the parcel. FDOT is anticipating the
completion of the Micco Road Interchange on I-95 for
November of 2018, less than 5 miles from the site. In
addition, FDOT is anticipating the completion of the 1 mile
extension of the St. John's Heritage Parkway extending west
from Micco Road to Babcock Street in July of 2019, which
will then give this property access from Babcock Street to
the new I-95 Interchange via the St. John's Heritage
Parkway.
Adjacent to the property directly to the south is the
residential subdivision of Deer Run. These estate-style
homes are situated on 2.5+ acres lots. In the past three
years, homes sold in the Deer Run neighborhood garner an
average sale price of $320,950.

Property Map


Driving Directions

Located on the West side of Babcock Street (SR 507) just south of Willowbrook
Street, approximately 12 miles south of the Palm Bay I-95 Interchange and 2 miles
to US Highway 1 via Micco Road. To the north, The City of Palm Bay boundary line is
adjacent to the property, which opens up the possibility of annexing into the city's
utility system in the future. The commute to the Orlando International Airport is
less than 75 miles (approximately 1 hour and 15 minutes) and 16 miles or 30
minutes to the Melbourne International Airport and Melbourne downtown
shopping.

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Michael Dreyer

Dreyer & Associates

(321) 773-1480 (work)

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Michael Dreyer

Dreyer & Associates

(321) 773-1480 (work)

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