4038 S Babcock St Melbourne, FL 32901
Estimated payment $44,110/month
About This Lot
PROPERTY DESCRIPTION - The opportunity is to acquire a 12.66± acre multifamily development site located at 4038 S Babcock Street in Melbourne, Florida, within Brevard County. The property is approved under the Live Local Act for up to 300 residential units. The site offers a sizable, contiguous footprint suitable for a well scaled multifamily community in the booming high-growth Space Coast market.
LOCATION DESCRIPTION - The property is located just north of Palm Bay Road NE, east of I-95, and south of W New Haven Ave (US 192), providing convenient access to one of South Brevard County's primary commercial and commuter corridors. The site benefits from proximity to new retail,
residential neighborhoods, and employment center in Melbourne and Palm Bay, with strong connectivity to I-95 and the greater Space Coast market.
PROPERTY SIZE AND PARCEL ID - 12.66± acres / 28 3716-00-763
ZONING - C-C1
PRICE - $7,950,000
PROJECT HIGHLIGHTS:
Located within the heart of Space Coast region
Strong fundamentals (new employment centers, strong growth and demand)
Recent Comparable Sale 0.25 miles north from subject - Andretti Thrill Park for Multifamily Development at $7.5M in Feb ’26”
Average HH Income of $77,142 within a 1, 3, and 5 mile radius
Seller willing to contribute land as part of Joint Venture or open to Seller Financing
Live Local Zoning which allows for significant tax breaks up to 30%
Listing Agent
Austin McWilliams
Eshenbaugh Land Company Listed on: 04/24/2026
Property Details
Property Type
- Land
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $23,518 | $1,204,550 | -- | -- |
| 2024 | $1,380 | $1,357,820 | -- | -- |
| 2023 | $1,380 | $113,610 | $0 | $0 |
| 2022 | $1,275 | $110,310 | $0 | $0 |
| 2021 | $1,276 | $107,100 | $0 | $0 |
| 2020 | $1,258 | $105,630 | $0 | $0 |
| 2019 | $1,255 | $103,260 | $0 | $0 |
| 2018 | $1,245 | $101,340 | $0 | $0 |
| 2017 | $1,238 | $99,260 | $0 | $0 |
| 2016 | $1,260 | $97,220 | $18,000 | $79,220 |
| 2015 | $1,283 | $96,550 | $18,000 | $78,550 |
| 2014 | $1,262 | $95,790 | $15,300 | $80,490 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 04/24/2026 04/24/26 | For Sale | $7,950,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $600,000 | First American Title Insurance | |
| Warranty Deed | $600,000 | First American Title Insurance | |
| Deed | $53,000 | -- | |
| Warranty Deed | $180,000 | State Title Associates Lllp | |
| Warranty Deed | $117,900 | Alday Donalson Title Agencie | |
| Warranty Deed | -- | Alday Donalson Title Agencie |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $143,960 | No Value Available | |
| Previous Owner | $112,488 | No Value Available |
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Ask me questions while you tour the home.