Cocoa West

36.83 Acres of Residential Land Offered at $7,500,000 USD in Cocoa, FL 32926

Asking Price $7,500,000

Property Type: Land

Listing Contacts

Charles Crapse

Verified Profile

Marshall Finkelstein

Verified Profile

Property Info

Property Overview

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 Details

Property Subtype: Residential/Multifamily

Highlights

Proximity to Notable Medical & Educational Institutions: Rockledge Regional Medical Center, Eastern Florida State College, UCF Cocoa Campus
Connectivity to Major Office Submarkets: Over 132 m.s.f. of office space within a one-hour drive from the Property
Proximity To Retail: More than 7.8 m.s.f. of retail within a five-mile radius of 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

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