West Melbourne Land 16.89 acres
Offering Memorandum
https://drive.google.com/drive/folders/1bwjh4LyR5QBGVeK47aFNrW4s3CWkKo5Z?usp=sharing
16.89 acres: $4,138,050 ($245,000 per acre)
Perfect location to build an outlet mall.
There are no major outlets between West Palm Beach (Palm Beach Outlets) and Orlando (Orlando International Premium Outlets).
Zoning:
The vacant property along US 192, known as tax parcel identification number 28-36-03-00-4 is zoned Commercial Parkway (C-P) and can be developed with commercial businesses allowed by Chapter 98, Zoning Code of the City’s Land Development Regulations as described in this internet link:
https://library.municode.com/fl/west_melbourne/codes/code_of_ordinances?nodeId=PTIICOOR_CH98ZO_ARTIIIDI_DIV8COPADI
Please note that multi-family uses are not allowed in the C-P zoning and a rezoning to another district would be needed if a developer proposes apartments (see attached recently approved ordinance).
This is a quick outline (below) of the ongoing growth that's going on around the Turnbaugh 16.89 acres.
Within one year, the Town Center across the street is projecting an explosion of growth from multifamily to a hotel. Additionally, there are many multifamily projects established and planned that the city stopped providing multifamily zoning.
With no more multifamily sites available and infrastructure such as the St. Johns Heritage Parkway being complete, this near seventeen-acre site is one of if not the most prime CP properties available. With that said, this site is estimated to grow by $100,000 an acre within the next year. Can you imagine its worth in ten or more years? After coming to our north, we've been waiting for this area to pop, and it has.
-----------------------------------
Space Coast Town Centre.
This is right across the street from the 17-acre Turnbaugh. Currently under construction is a 300 unit apartment complex. Within the next 10 to 12 months, the following is expected.
Another 275 residential units were built in proximity next to the 200 built (all 475 completed within one year).
The Publix supermarket will be built in the northwest corner of the property.
One major hotel with at least 200 rooms is to be built.
This is in addition to another development which is completed.
Receiving south on the beltway of 192, four completed home settings equal about 400 homes combined.
Hammock Trace is about three miles south via Heritage Pkwy. This is an ongoing development that will consist of many homes after the build-out is completed. Many lots within the project have already been sold (I don't have exact numbers).
By going a few miles north, you enter the town of Viera. This is a major build that's gone from farmland to a city within the past six years. Three bedroom 1 1/2 bath one car garage homes currently sell for around $300,000 per unit with a building backlog for over a year.
And that's before we even talk about Palm Bay, one exit south of the exit that the Turnbaugh 17-acres is on.
Directly north of the Turnbaugh 17-acres and accessed by nearby Columbia Lane to John Rhodes & Ellis Road is expected to have another 100+ homes built within one year.
These hundreds of homes and thousands of people will now be followed by commercial enterprises needing commercial land, and this 17-acres is the bar for others to be measured.
THIS PORTFOLIO SALE IS OFF MARKET MUST STAY OFF MARKET, PLEASE DO NOT LET THIS PORTFOLIO GO VIRAL
DEAR BUYER, THIS IS AN OFF MARKET (NOW) AND THIS IS A PRE-DUE DILIGENCE PACKAGE AND NOT A FORMAL DUE DILIGENCE PACKAGE. ONCE THE BUYER AND THE SELLER EXECUTE THE PURCHASE AND SALE AGREEMENT AND THE BUYER OPENS UP THE CONTRACTED ESCROW TRUST ACCOUNT WITH THEIR CONTRACTED EARNEST MONEY DEPOSIT, THE SELLER WILL THEN PROVIDE THE BUYER WITH ALL OF THE UPDATED P&Ls, RENT ROLLS, TENANT'S LEASES AND ANY VENDOR CONTRACTS THAT EXIST TO CLOSE THIS TRANSACTION.
TO MOVE FORWARD, THE BUYER AND OR THE SELLER TO SIGN THE ASSET SPECIFIC MASTER FEE AGREEMENT (DEPENDING ON THE EXECUTED PURCHASE PRICE), THE BUYER TO PROVIDE AN ASSET SPECIFIC LETTER OF INTENT TO INCLUDE THE PURCHASE PRICE, DUE DILIGENCE PERIOD, CLOSE OF ESCROW OF DATE AND THE AMOUNT OF THE EARNEST MONEY DEPOSIT THAT WILL BE ESCROWED ONCE THE BUYER AND THE SELLER EXECUTE THE PURCHASE AND SALE AGREEMENT. THE BUYER TO PROVIDE A BUYER'S COMMERCIAL BIO OF COMMERCIAL ASSET HELD IN THEIR INVESTMENT PORTFOLIO. THE BUYER TO PROVIDE A BUYER'S VERIFIABLE PROOF OF FUNDS IN THE FORM OF A BANK OR FUND STATEMENT OF ACCOUNT. PLEASE NO TRANSACTIONAL FUNDING.
https://drive.google.com/drive/folders/1bwjh4LyR5QBGVeK47aFNrW4s3CWkKo5Z?usp=sharing
16.89 acres: $4,138,050 ($245,000 per acre)
Perfect location to build an outlet mall.
There are no major outlets between West Palm Beach (Palm Beach Outlets) and Orlando (Orlando International Premium Outlets).
Zoning:
The vacant property along US 192, known as tax parcel identification number 28-36-03-00-4 is zoned Commercial Parkway (C-P) and can be developed with commercial businesses allowed by Chapter 98, Zoning Code of the City’s Land Development Regulations as described in this internet link:
https://library.municode.com/fl/west_melbourne/codes/code_of_ordinances?nodeId=PTIICOOR_CH98ZO_ARTIIIDI_DIV8COPADI
Please note that multi-family uses are not allowed in the C-P zoning and a rezoning to another district would be needed if a developer proposes apartments (see attached recently approved ordinance).
This is a quick outline (below) of the ongoing growth that's going on around the Turnbaugh 16.89 acres.
Within one year, the Town Center across the street is projecting an explosion of growth from multifamily to a hotel. Additionally, there are many multifamily projects established and planned that the city stopped providing multifamily zoning.
With no more multifamily sites available and infrastructure such as the St. Johns Heritage Parkway being complete, this near seventeen-acre site is one of if not the most prime CP properties available. With that said, this site is estimated to grow by $100,000 an acre within the next year. Can you imagine its worth in ten or more years? After coming to our north, we've been waiting for this area to pop, and it has.
-----------------------------------
Space Coast Town Centre.
This is right across the street from the 17-acre Turnbaugh. Currently under construction is a 300 unit apartment complex. Within the next 10 to 12 months, the following is expected.
Another 275 residential units were built in proximity next to the 200 built (all 475 completed within one year).
The Publix supermarket will be built in the northwest corner of the property.
One major hotel with at least 200 rooms is to be built.
This is in addition to another development which is completed.
Receiving south on the beltway of 192, four completed home settings equal about 400 homes combined.
Hammock Trace is about three miles south via Heritage Pkwy. This is an ongoing development that will consist of many homes after the build-out is completed. Many lots within the project have already been sold (I don't have exact numbers).
By going a few miles north, you enter the town of Viera. This is a major build that's gone from farmland to a city within the past six years. Three bedroom 1 1/2 bath one car garage homes currently sell for around $300,000 per unit with a building backlog for over a year.
And that's before we even talk about Palm Bay, one exit south of the exit that the Turnbaugh 17-acres is on.
Directly north of the Turnbaugh 17-acres and accessed by nearby Columbia Lane to John Rhodes & Ellis Road is expected to have another 100+ homes built within one year.
These hundreds of homes and thousands of people will now be followed by commercial enterprises needing commercial land, and this 17-acres is the bar for others to be measured.
THIS PORTFOLIO SALE IS OFF MARKET MUST STAY OFF MARKET, PLEASE DO NOT LET THIS PORTFOLIO GO VIRAL
DEAR BUYER, THIS IS AN OFF MARKET (NOW) AND THIS IS A PRE-DUE DILIGENCE PACKAGE AND NOT A FORMAL DUE DILIGENCE PACKAGE. ONCE THE BUYER AND THE SELLER EXECUTE THE PURCHASE AND SALE AGREEMENT AND THE BUYER OPENS UP THE CONTRACTED ESCROW TRUST ACCOUNT WITH THEIR CONTRACTED EARNEST MONEY DEPOSIT, THE SELLER WILL THEN PROVIDE THE BUYER WITH ALL OF THE UPDATED P&Ls, RENT ROLLS, TENANT'S LEASES AND ANY VENDOR CONTRACTS THAT EXIST TO CLOSE THIS TRANSACTION.
TO MOVE FORWARD, THE BUYER AND OR THE SELLER TO SIGN THE ASSET SPECIFIC MASTER FEE AGREEMENT (DEPENDING ON THE EXECUTED PURCHASE PRICE), THE BUYER TO PROVIDE AN ASSET SPECIFIC LETTER OF INTENT TO INCLUDE THE PURCHASE PRICE, DUE DILIGENCE PERIOD, CLOSE OF ESCROW OF DATE AND THE AMOUNT OF THE EARNEST MONEY DEPOSIT THAT WILL BE ESCROWED ONCE THE BUYER AND THE SELLER EXECUTE THE PURCHASE AND SALE AGREEMENT. THE BUYER TO PROVIDE A BUYER'S COMMERCIAL BIO OF COMMERCIAL ASSET HELD IN THEIR INVESTMENT PORTFOLIO. THE BUYER TO PROVIDE A BUYER'S VERIFIABLE PROOF OF FUNDS IN THE FORM OF A BANK OR FUND STATEMENT OF ACCOUNT. PLEASE NO TRANSACTIONAL FUNDING.