School or Religious Institution

Highlights

• 6.36 acre Waterfront Campus
• Permitted uses include multifamily residential, institutional with housing, hotels, corporate offices, and retail
• High-Density Multifamily - up to 40 units/acre
• 2 Buildings totaling 39,234 SF
• 590 +/- feet of frontage along US-1
• 30,000+ Vehicles Per Day
• 2 parking lots with plenty of room for expansion
• 505 +/- feet of deeded waterfront
• Located in Bayfront Village
• Many new multifamily and commercial developments nearby

Description

6.36 acre waterfront campus with two buildings totaling 39,234 SF. Located in Palm Bay, Florida, with 850 +/- feet of waterfront to the west and north (505 ft +/- deeded), and 530 feet of frontage along US Hwy 1 (Dixie Hwy). Easy access and egress, with two entrances, and two separate parking lots.

Zoned Bayfront Mixed-Use (BMU) which permits residential, commercial and institutional uses, such as schools or universities with housing , hotels and motels, retail, and high-density multifamily (up to 40 residential units per acre, provided the development also includes a commercial component of at least 20%).

The city's vision of the area is to create a destination recognized as a pedestrian-friendly, mixed use community with a Mainstreet Village character capitalizing on its waterfront location that boasts improved narrow streets, pedestrian pathways and US 1 crosswalks leading to public spaces including waterfront parks, attractive views, and a waterfront theme.

The main 29,617 SF building was recently renovated to include 70% office space, with 30% remaining a shell. The 2nd 9257 SF building is a shell, and maintained as a storage space.

River's Edge is located within the incorporated limits of the City of Palm Bay. The neighborhood is defined as the Bayfront Community Redevelopment District. The area within the Redevelopment District is approximately 1,071 acres and comprises a range of land uses, namely residential, office, commercial, industrial and publicly owned.

The Bayfront Community Redevelopment District is located just west of the Indian River Lagoon. The District stretches from the City limits at Melbourne south to the boundary of the Town of Malabar. The Redevelopment District also extends the length of the City along the lagoon.

The Bayfront Community Redevelopment District (BCRD) is intended to be redeveloped as an attractive, inviting, environmentally sustainable and economically successful community with residential commercial/retail, and mixed use areas. Single family residential neighborhoods within the District include primarily older well established subdivisions. Multifamily dwelling units can be found at Castaway Point and Cape Malabar. Retail and service businesses exist along US 1, Palm Bay Road and Conlan Boulevard. One shopping strip mall is located along US 1 north of Port Malabar Boulevard. A second shopping strip center was damaged by the hurricanes of 2004 and demolished. The primary industrial uses within the District are situated in the Kirby Industrial Park west of the FEC Railroad, and range from light industrial assembly plants to heavy industrial concrete processing facilities.

River's Edge is located in the “Bayfront Village” section of the Bayfront Community Redevelopment District. US 1/Dixie Highway is the primary north/south roadway. US Highway 1 parallels the Indian River, and the Florida East Coast (FEC) main line railroad tracks.
US Highway 1 in this area of Palm Bay is an older, well established mixed-use area with river view homes and older established commercial/office uses. The Palm Bay Marina is located to the north of Turkey Creek which was recently purchased from the City of Palm Bay. The subject is located on the south of Turkey Creek and just west of US Highway 1. The bridge is a fixed span bridge with vertical clearance estimated at 15 feet.

There is a pedestrian walkway connects the Castaway Point area to the marina use on the north side of Turkey Creek.

Palm Bay (north) and Port Malabar Boulevard (South) are the primary east/west roadways. Palm Bay at the US Highway 1 intersection is a two lane roadway through the historic area of Palm Bay. Palm Bay Road, based on the redevelopment plan is intended to be improved and become more of a destination corridor. Port Malabar Boulevard is a four lane residential collector.

The Florida East Coast Railway operates 351 miles of mainline track along the east coast of Florida with direct rail access to South Florida's ports. FEC also serves five intermodal terminals and has connections to CSX and Norfolk Southern in Jacksonville. The FEC has approximately six (6) daily trains between Jacksonville and Miami (southbound) with approximately six (6) daily northbound trains. All Aboard Florida (BrightLine) recently launched it's service from Orlando to Miami using the existing Florida East Coast Railway corridor between Miami and Cocoa, and adding new track along State Road 528 between Cocoa and Orlando.

The “District” vision focuses efforts toward re-establishing the Bayfront as a village center. The primary focus of this area is commercial development with a waterfront theme. The current future land use designation and zoning support development of a mixture of separately classified properties. Recent projects include a state of the art riverfront assisted living facility, and Aqua, a 24 acre apartment complex and commercial development on Conlan Boulevard. Planned developments include a 12 acre, 370 unit multifamily project less than 1/2 mile to the south.

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