201 S Burnett Rd - Cocoa West 36.83 Acres of Residential Land Offered at £5,653,350 in Cocoa, FL 32926
INVESTMENT HIGHLIGHTS
- Proximity to Notable Medical & Educational Institutions: Rockledge Regional Medical Center, Eastern Florida State College, UCF Cocoa Campus
- Proximity To Retail: More than 7.8 m.s.f. of retail within a five-mile radius of the Property
- Connectivity to Major Office Submarkets: Over 132 m.s.f. of office space within a one-hour drive from the Property
- 5-Mile Demographics: Population of 80,688 (8.9% growth since 2010), $76,486 Avg Household Income (29.6% growth since 2010), 58% White Collar Workforce
EXECUTIVE SUMMARY
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
PROPERTY FACTS Under Contract
1 LOT AVAILABLE
Lot
| Price | £5,653,350 |
| Price Per AC | £153,498.51 |
| Lot Size | 36.83 AC |
Address: 201 S Burnett Rd, Cocoa, FL 32926 Land Area: 36.83 Gross Acres 24.0 Developable acres (wetland mitigation to increase developable acres) Zoning: RU-2-10, 10units/acre (Medium-density multiple-family residential) Approved for 240 townhomes
DESCRIPTION
The Property has site plan approval for 240 townhome units. The Melbourne/Cocoa/Rockledge MSA is among the country’s fastest-growing metros with 2.6% unemployment and 4.1% job growth as of Q4 2022. The metro area has also seen 30% effective rent growth in the last 24 months while maintaining 95%+ occupancy. The Property is situated one block from State Road 520, providing direct access to Downtown Cocoa (10 minutes) as well as Cocoa Beach (25 minutes). There is a notable medical and educational presence in the submarket, with Rockledge Regional Medical Center (298 beds, 1,800 employees) , Eastern Florida State College (15,000 students and 800 employees), and UCF-Cocoa Campus (500 students and 150 employees) all within five miles of the Site. The Property also enjoys five-minute access to Interstate-95, providing convenient connectivity to the Orlando, Daytona Beach, and Melbourne office markets: totaling 132 m.s.f within a one hour drive. Additionally, there is more than 7.8 m.s.f. of retail and restaurants within five miles of the Property.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £0 | |
| Land Assessment | £110,301 | Total Assessment | £169,216 |
