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4038 S Babcock Street
Melbourne, FL 32904
Asking Price
$8.50M
Asset Type
Residential Land
Class
Class B
What's Special
12.66 ac Approved for Live Local 300 units <ul><li>Located within the heart of Space Coast region</li><li>Strong fundamentals (new employment centers, strong growth and demand)</li><li>Recent Comparable Sale 0.25 miles north from subject - Andretti Thrill Park for Multifamily Development at $7.5M in Feb '26"</li><li>Average HH Income of $77,142 within a 1, 3, and 5 mile radius</li><li>Seller willing to contribute land as part of Joint Venture or open to Seller Financing</li><li>Live Local Zoning which allows for significant tax bre
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NOI
$80,000
Cap Rate
0.94%
DSCR
0.16
Underwater
Cash-on-Cash
-16.65%
Monthly Payment
$42,053.362
Annual Cash Flow
$-424,640.347
