1890 98Th Ave Vero Beach, FL 32966

This exceptional 76.56-acre property in Vero Beach, Florida, presents a unique investment opportunity. Currently utilized as an airport with airplane hangars and an airstrip, the site boasts two artesian wells (8-10 inch and 4 inch). Existing buildings total 41,900 square feet, with one structure built in 1973 (9,900 sq ft) and another built in 1973 (32,000 sq ft). The land is zoned A-1 Agricultural, but the county suggests potential rezoning to Industrial, Commercial, or Multi-Family residential (up to 10 units per acre) under the "Live Local Act," contingent upon the developer constructing at least 40% affordable housing. The northern 50.97 acres are designated for Commercial/Industrial use, while the southern 25.59 acres are zoned for Multi-Family development. The property is located within an Opportunity Zone, offering significant tax advantages. County water and sewer are available. The 2023 real estate taxes totaled $16,395.35. The asking price for the entire 76.56-acre property is $10,800,000 ($141,066 per acre); the northern 50.97 acres are also available for separate purchase at $7,645,500 ($150,000 per acre). This versatile property offers substantial development potential in a prime location. The address is 1890 98th Ave, Vero Beach, FL 32966.