Unlocking Opportunity: Dive into Eber And Hollywood Boulevard Melbourne's Vibrant Future!

The subject property is situated in the unincorporated area of Brevard County, boasting a mailing address within the City of Melbourne, located along the picturesque east central coast of Florida. Melbourne itself is strategically positioned about an hour's drive south of the Kennedy Space Center and approximately 1.5 hours east of Disney World, making it an attractive location for both residents and businesses alike. Covering around 41 square miles, about 75% of Melbourne's land area is currently developed, reflecting its vibrant and growing community. The market area surrounding the subject property is defined by major thoroughfares: New Haven Avenue (SR 192) to the north, Palm Bay Road to the south, Interstate 95 to the west, and US-1 to the east. This region encompasses approximately 16.5 square miles and includes portions of Melbourne, West Melbourne, Palm Bay, and unincorporated Brevard County. The area is predominantly developed, with around 75% of the land utilized for various purposes. Notably, the Space Coast region has a high concentration of engineers and a robust high-tech economy, leading to significant job growth and opportunities, particularly in the aerospace and aviation sectors. Development within the neighborhood primarily consists of commercial properties along main roadways, while industrial and residential uses are found on the interior side streets. Key landmarks include the Melbourne Square Mall, HealthFirst, Holmes Regional Medical Center, and the Melbourne Municipal Golf Course. Additionally, the Melbourne International Airport is located just north of the subject area, enhancing accessibility. Existing commercial development features a mix of anchored and non-anchored strip shopping centers, medical offices, convenience stores, and restaurants. However, new development opportunities are limited due to the scarcity of vacant commercial sites, with land values in the area being average to above average, driven by proximity to major amenities and employment centers. The defined market area also includes a mix of office spaces, primarily located along major traffic arteries such as SR 192, Wickham Road, and Sarno Road. Wickham Road is notable for its professional and medical office buildings, which are mainly single-story and consist of both single-tenant and multi-tenant properties. The Melbourne Regional Medical Center, a significant healthcare facility with 115 beds, is located on Wickham Road and serves a substantial number of patients annually, underscoring the importance of healthcare services in the area. This combination of commercial and medical establishments creates a robust economic environment that supports local businesses and attracts new developments. Industrial properties are concentrated along NASA Boulevard, Ellis Road, Dow Road, and John Rodes Boulevard, with several industrial parks in the vicinity, such as NASA Corporate Centre and Skyway Industrial Park. The Melbourne International Airport plays a crucial role in the local economy, generating over $1 billion in annual economic activity and serving as a hub for both passenger and freight services. The airport's infrastructure supports a variety of aviation-related businesses, contributing to the region's status as a center for aerospace and high-technology industries. Overall, the combination of commercial, industrial, and residential developments, along with strong transportation links, positions the area for continued growth and opportunity.