Malabar, FL 32950

Property Description

Fantastic Redevelopment Opportunity, Directly on US1, with River Views! Currently being used as a mobile home park, value is in the land! Easy access to the Beaches & Downtown Melbourne. FLU is High Density Residential. Highest & best use would be to apply for rezoning and land use change to R-M6 Multiple Family HDR which allows for 6 units per acre, 3 stories and 35' tall. Contains small riparian area along HWY US-1 with fishing pier. The riparian area is considered coastal preserves and only permits residential use.