Melbourne, FL Entitled Seniors Housing Site

5925 Old Dixie Highway, Melbourne, FL, 32940, US

Asset description

The site is fully entitled and shovel ready to develop a Class A 166,000 square foot luxury senior campus. The Community will consist of 70 Independent Living, 64 Assisted Living and 22 Memory Care units and be located in one of the most desirable parts of Melbourne, with high visibility and convenient access.

The Community will also feature a movie theatre, hairdresser and spa as well as a fitness center with exercise and therapeutic equipment. Other amenities can include a bar and grill, a library, a club home as well as multi-functional activity rooms that can be used for art , music, yoga, religious practice and lectures. In addition to the indoor amenities, the Community can also have an outdoor terrace suitable for dining and entertainment, a bocce ball court, a dog run, a pool and pickle ball court as well as multiple walking trails through the spectacular wetlands.

...

Attributes

Units

156

Building area net

166,000 sf

Land area gross

6.35 acres

Building class

Class A

Floors

Parking spaces

138

Media

Investment highlights

Fully Entitled and Shovel Ready

Complete with unappealable entitlements and construction drawings, the community can break ground shortly after acquiring the land.

Smart Unit Mix and Design

The community is designed to be a continuing care campus which incorporates IL, AL and MC neighborhoods; however, the building is designed in such a way that each neighborhood has its own amenities and residents are not forced to intermingle with one another.

Densely Populated & High Visibility

Located on US-1 in a strategic part of Melbourne, close to I-95, Viera, Suntree and the affluent suburbs of Merritt and Lansing islands. There are nearly 210,000 people living within a 15-minute drive of the site, which offers undeniable visibility.

Affluent and Growing Market

The age 75+ population is projected to grow by an impressive 22.5% over the next five years, while median home values are also forecast to grow over 19% during the same time.

Optimal Offering Structure

The property is offered free and clear of financing and operations. JLL Seniors Housing Capital Markets has underwritten the opportunity and is available to source competitive construction financing for a qualified buyer.