|Land Size||2.64 Acres|
Considered by many to have been a Cocoa Beach landmark, The First Federal Savings and Loan Building was constructed in 1961, giving the city’s skyline a modern look for the time.
The building was nicknamed “The Glass Bank”, because originally the structure boasted glass windows on it’s entire exterior. The top floor was occupied by the “Ramon’s Rainbow Room”, a restaurant and nightclub which regularly hosted national politicians, astronauts and Hollywood stars and was known for it’s great tasting food and atmosphere.
Today the property stands vacant for the next Cocoa Beach landmark. The property being offered consists of 2.64 acres and has building height restrictions to 82 feet. The property is zoned Neighborhood Commercial and is comprised of 8 parcels. Highest and best use of the property would be perhaps a high rise condominium that has both ocean and river views. Based on current zoning laws; a high rise condominium project that includes up to 28 units with possible retail on the ground floor could be developed. The site could also be developed for a 73 unit high rise hotel. Additionally a high rise nursing home or retirement community could be developed.
Current assed land value is $1,132,440 with annual real estate taxes of $9,323.82. The City of Cocoa Beach is a proactive group of leaders that seek a unique development. This is a beautiful piece of undeveloped land in the heart of Cocoa Beach.
The information contained herein is from sources deemed reliable, but is subject to errors, omissions, and withdrawal without notice.
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