Industrial Entitled Padsites w Utilities

The Subject is 25.51±Acres currently zoned LI (Light Industrial & Warehousing District) and located in the designated Kirby Industrial Area, and within the boundaries of the Bayfront CRA district of Palm Bay, which was established in 1994, and makes the Subject eligible for certain incentives such as ad valorem tax abatement for qualified industries. The LI zoning allows for flexible permitted and conditional uses including warehouse, office, trade school, and certain retail uses. Subject benefits by close proximity to US 1 (22,500 AADT), Palm Bay Road (27,500 AADT) and the FEC Railway, as well as easy access to Interstate 95. The Kirby Industrial Area offers ample industrial land inventory and great opportunities for tax increment revenue generation. Because of this revenue potential, industrial development is an important component of the Bayfront Community Redevelopment Plan. The total acreage of vacant and improved property is approximately 394 acres with the following proposed land uses: 41 acres of commercial, 253 acres of industrial and 84 acres of single-family residential, 2 acres of public open space and 14 acres of mobile home residential.