The subject includes portions of three parcel ID #2460622, 2456812, 2430836. The subject is comprised of seven buildable pads which will support 16 units each with 4 units on each floor to a 45 foot building height. The total number of buildable units is 112. The subject property is located within the Economic Overlay District of Cape Canaveral. The subject has been approved for seven mid-rise multifamily pads by the City of Cape Canaveral. Each pad is approved for 16 units with a building height to 45 feet. The Seller has built 11 buildings for a total of 176 units. Currently the units are being resold at between $433,000 to $485,000 per unit. There is very little developer risk for this project.
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