48 Acre Waterfront Residential Dev

Land Description

This property is located just east of Hwy 1 and a few miles north of Vero Beach, Florida. The property provides easy access to the Atlantic Ocean, I-95, and State Road 60. The property has roughly 1,300 ft of water frontage on the Indian River. The property benefits new development in the immediate area including a new Publix shopping center one mile to the north, a Pulte luxury residential neighborhood less than a mile to the north, and numerous high-end private golf clubs such as John's Island Club, RedStick, Quail Valley, and Bent Pine.

The property consists of 48.35 gross acres with around 24 acres of wetlands. An environmental study completed on the site concluded that a development footprint of 26.8 acres is possible. The property has numerous land uses and zoning designations - see the enclosed map. The land uses are L-2/Low Density Residential & C2/Conservation. Zoning on the site includes Rm-6, Rm-3 & Rs-3 Low-density residential. Based on the current zoning, roughly 105 units/lots have been considered for the site (roughly 2.5 units/acre). However, given the land use allows up to 6 units per acre, there could be the ability to increase the density to 150-160 units. Additionally, up to 12 boat slits with boardwalk access is permitted.