For Sale
$10,800,000

1890 98Th AveVero Beach, FL 32966

76 Acres, Multi-Use Potential, Opportunity Zone

Overview

Added:
Dec 11, 2024
Days on market:
114
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.

Highlights

  • Located in an Opportunity Zone.
  • 76.56-acre site; potential for separate sale of 50.97 acres of commercial/industrial land and 25.59 acres of multi-family land.
  • Airplane hangars, airstrip, and two artesian wells.
  • 41,900 SF of existing buildings (9,900 SF built 1973, 32,000 SF built 1973).
  • A-1 Agricultural zoning; potential rezoning to Industrial, Commercial, or Multi-Family (10 units/acre with "Live Local Act" and 40% affordable housing).
  • 2023 Real Estate Taxes: $16,395.35.

Property Details for 1890 98Th Ave

Property type
Specialty properties, Airport retail
Lot Size (sq. ft)
3,334,954 SF

Location Insight

City
Vero Beach
County
Indian River
State
Florida
Latitude
27.63726
Longitude
-80.527837
1890 98Th Ave, Vero Beach, Florida

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1890 98Th Ave
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