Corrigan Ranch

The highest and best offers will be accepted until 5:00 pm EST on February 18, 2022. Available for the first time in over 50 years, we are pleased to present the Corrigan Ranch for sale in Vero Beach, Florida. Located near the I-95 and SR60 interchange, the property provides a rare investment opportunity combining outstanding location, significant entitlements, and natural amenities. The 5,849-acre parcel being offered is located just west of I-95 and is part of a larger acreage tract that straddles both sides of I-95. Of the portion of the ranch that is for sale, 2,146 acres make up the Basin 22 Wetland Mitigation Bank, leaving the remaining 3,703 acres available for development. The development acreage includes Future Land Use Entitlements allowing a mix of up to 9,300 housing units and up to 998 acres of Commercial and/or Industrial uses. The property’s 2015 annexation into the City of Fellsmere provided a tremendous framework for a future community that preserves much of the natural beauty of the land while providing for the future growth of the area. The property’s 746 acres of Industrial lands is one of the largest contiguous parcels of the type in the state. This ideal location provides easy access to SR60, which bisects the state from Vero to Tampa and I-95 which traverses the entire east coast. With over 15,000 million people within a 150-mile radius, the property provides an ideal location for serving the growing needs of Central and South Florida. The property is a working cattle ranch with a beautiful mix of open pastures, pine forests, natural wetlands, and sand ridge. The beautiful, natural setting with abundant deer, turkey, quail, ducks, and other wildlife provide, outstanding conditions for an environmentally compatible community. In addition to the 2,146 acres of conservation lands on site, the property shares over 5.5 miles of border with state and federal conservation lands. Those lands provide the headwaters of the St. Johns River with over 200,000 acres of contiguous preservation lands and abundant recreational opportunities. The existing agricultural operations, including cattle and sod, provide a source of income and tremendous tax benefits from the existing agricultural exemption. Prospective buyers can continue to operate the ranch or take advantage of a ready market for cattle and sod leases, which provide cash flow and maintenance to the property until alternative uses come to fruition. History & Current Use The Corrigan Family has been a landmark in the Florida ranching community for over 75 years after migrating from Texas in the mid-1900’s. The family business originated in Midland, Texas and moved to Florida to start their Florida ranching business on four large land tracts. In 1964, the final 11 sections of the Vero Beach Ranch were purchased by Hugh and Clementine Corrigan from Alto Adams and has remained in the family since. Children, grandchildren, and great-grandchildren of the original owners still ride herd and run the daily working cattle ranching operations. In the 1990’s, three of the four original land tracks were sold. One of the three was sold for development and the other two were allocated for conservation lands, including lands that established the foundation of the St. Sebastian River Preserve State Park. A later purchase, of over 6,000 acres, in Okeechobee County was recently purchased by the State of Florida to be included in the Kissimmee Prairie State Park. In the early 1970’s, I-95 bisected the ranch and opened up access to the new I-95 and SR60 corridor. With nearly 9,000 acres of land, the entire ranch is reported to be the largest contiguous parcel of land along I-95 in the southern half of Florida. Total Development Potential In preparation for the next stage of the property’s history, the land was annexed into the City of Fellsmere in 2015. That agreement allows up to 13,261 total residential units and up to 12 million total SF of commercial, office, and industrial on the entire ranch, while requiring that at least 50% of the land remains in open space including 2,146 acres in preservation. The entirety of Corrigan Ranch encompasses nearly 9,000 ± acres. Many of the documents show this total acreage though only 5,849 acres is being offered at this time. In addition to the annexation agreement in place, the friendly, small town environment of Fellsmere provides an atmosphere to work with local planners and managers to develop the site. An agreement with Indian River County for a new fire station as well as utilities to the property is in process. The beautiful, natural landscape and abundant wildlife provides an outstanding environment for an eco-friendly community. Adding to the natural amenities of the property is over five and a half miles of border with state and federal conservation lands. Those lands provide the headwaters of the St. Johns River with over 200,000 acres of contiguous preservation and abundant recreational opportunities. The highest and best offers will be accepted until 5:00 pm EST on February 18, 2022. However, the sellers reserve the right to enter into an agreement for the sale of the property prior to or after this date. Any modification to this date, terms, and conditions are subject to change. Please refer to this listing’s webpage for any modifications. To download more detailed information on this property, please register at properties.svn.com/1008975-sale or contact the listing brokers directly.