Site plan approved 59-unit multifamily site on ±7.63 acres along Indian River Blvd in the heart of Vero Beach's affluent coastal and medical corridor, steps from Cleveland Clinic and about a mile from the Barber Bridge to the beaches. Approved for 59 two-bedroom, two-bath homes (±1,125 SF) in three 3-story buildings with open-air breezeways, pool and clubhouse, 24 garage bays and 3.27 acres of preserved land. RM-8 zoning, Land Trust drainage easement executed, plans available. Ideal for smaller developers, family offices and investors. All reasonable offers considered. Rare chance to build and hold a quality rental community in central Vero Beach. The Indian River Blvd corridor has more than 750 units committed nearby, with new luxury townhomes renting up to $5,899 per month. Indian River County is projected to reach about 193,000 residents by 2035, and new airline service from Breeze, JetBlue and American has expanded access to Vero Beach Regional Airport. Multifamily permitting has slowed since 2023, which limits new supply. Approved site plan, building elevations, floor plans, engineering and survey are available. Remaining steps include the SJRWMD permit resubmittal; site plan approval has been extended under statutory tolling.

Listing courtesy of Compass Florida LLC



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Last checked: 2026-10-18 05:47 PM UTC