8201 20th St

This prime 12.5 acre site sits in close proximity to i-95 at the SWC of the traffic lit intersection of State Road 60 (20th St.) and 82nd Avenue in Vero Beach, Florida. Seller previously obtained zoning entitlements and site plan approval for a grocery anchored ~71,200 SF retail project plus ~1.75 acres of outparcel(s) with direct frontage on State Road 60. In addition, Seller had finalized leases with the major Florida grocer in 2021 as well as with several retail tenants. Unfortunately, the project did not move forward primarily due to the delays caused by Covid-19, followed by the doubling of interest rates and more than a 30% rise in construction costs. All leases have since been terminated. That said, the zoning and entitlements add strong value add and save time for any Buyer. Adjacent to this site are a few larger tracts of land which may provide a Buyer the opportunity for a larger scale mixed use project. The Seller is seeking to sell the entire parcel or will consider selling the rear ~10.5 acres. For the whole of the 12.5 acres, Seller is seeking $6.75M