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4291 SW 5th Pl - 6.89-Acre Approved for Sports & Recreational 6.89 Acres of Commercial Land Offered at $1,800,000 in Vero Beach, FL 32968
Investment Highlights
- County-Approved Site Plan for Padel, Tennis, Pickleball, Clubhouse and Pool
- RS-3 Zoning with Special Exemption for Health-Club Use
- Existing Clubhouse and Court Infrastructure; Materials for 4 Padel Courts Included
- ±6.89 Acres (300,128 SF) of Improved and Entitled Land
- Approved for 6 Padel Courts, 8 Har-Tru Courts, 2 Hard Tennis Courts and 4 Pickleball Courts
- Alternative Single-Family Redevelopment Potential for Approximately 14–16 Homes, Subject to Engineering and County Approval
Executive Summary
The property is zoned RS-3, allowing up to three single-family dwelling units per gross acre. This indicates a theoretical maximum of approximately 20 homes. After accounting for roads, drainage, retention, utilities, setbacks and other site requirements, a preliminary practical yield may be approximately 14–16 homes.
No residential subdivision plan has been prepared or approved. Residential development potential is subject to engineering, subdivision approval, concurrency, utility availability and Indian River County review.
Buyer must independently verify zoning, Special Exemption, site-plan status, utilities, dimensions, approvals, development yield, project materials and all other property information. Contact the listing broker for approved plans, due-diligence materials and showing instructions.
Property Facts
1 Lot Available
Lot
| Price | $1,800,000 | Lot Size | 6.89 AC |
| Price Per AC | $261,248.19 |
| Price | $1,800,000 |
| Price Per AC | $261,248.19 |
| Lot Size | 6.89 AC |
6.89-acre entitled redevelopment site with an approved plan for a padel, pickleball and tennis complex. RS-3 zoning also provides potential for an estimated 14–16 single-family homes, subject to engineering, subdivision and County approval.
Description
RS-3 allows up to three homes per acre, producing a theoretical maximum of approximately 20 single-family homes. After accounting for internal roads, drainage, retention, utilities and setbacks, a more realistic preliminary estimate is approximately 14–16 homes, subject to engineering and County subdivision approval. Do not represent the residential count as approved. The currently approved plan is for the racquet/health-club redevelopment. Current approved-plan details.
Property Taxes
| Parcel Number | 33-39-22-00001-0120-00002.1 | Improvements Assessment | $74,328 |
| Land Assessment | $292,825 | Total Assessment | $367,153 |
Property Taxes
