9790 Babcock Street Southeast, Palm Bay, FL 32909 - Brevard County

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.