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    Keller Williams Realty Brevard

    4885 N Wickham Rd, Suite 101, Melbourne, FL 32940
    (321) 259-1170
    Size: 10+ agents

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    Property Types

    • Land
    • Commercial Sale
    • Commercial Lease

    Listings

    For Sale (14)

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    Malabar, FL Unimproved Land
    $78,000
    1.36 Acres

    Malabar, FL Unimproved Land

    1.36 acres of natural land in Malabar, Florida.

    Malabar, FL 32950
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    Palm Bay Land For Sale
    $48,995
    0.23 Acres

    Palm Bay Land For Sale

    Land available in Palm Bay, Florida.

    718 Daniels Ave SW, Palm Bay, FL 32908
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    Cocoa Beach Land For Sale
    $717,895
    0.36 Acres

    Cocoa Beach Land For Sale

    Land in the heart of Cocoa Beach, close to everything.

    161 S Shepard Dr, Cocoa Beach, FL 32931
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    Grant-Valkaria Homesite on 1.16 Acres
    Contact for pricing
    1.16 Acres

    Grant-Valkaria Homesite on 1.16 Acres

    1.16 acre homesite ready to build in Grant-Valkaria, Florida.

    Grant Valkaria, FL 32950
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    Residential Land in Palm Bay
    $63,000
    0.41 Acres

    Residential Land in Palm Bay

    Oversized corner lot in a growing Palm Bay neighborhood.

    101 La Fleur St SW, Palm Bay, FL 32908
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    Vacant Lot in Palm Bay
    $39,900
    0.24 Acres

    Vacant Lot in Palm Bay

    Vacant lot to build your dream home in Palm Bay.

    1130 Gawain Rd SW, Palm Bay, FL 32908
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    Turnkey Beachside Multi-Unit Rental
    $1,099,000
    2,489 SF

    Turnkey Beachside Multi-Unit Rental

    Profitable, renovated multi-unit short-term rental near the beach.

    105 NE 3 St, Satellite Beach, FL 32937
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    Rare River-to-River Lot
    $1,500,000
    0.31 Acres

    Rare River-to-River Lot

    Waterfront property on Merritt Island with access to Intracoastal Waterway.

    S Tropical Trl, Merritt Island, FL 32952
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    Palm Bay Corner Lot
    $45,000
    0.25 Acres

    Palm Bay Corner Lot

    Corner lot ready for new construction in Palm Bay, Florida.

    801 Rebus Ave, Palm Bay, FL 32908
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    Residential Lot Near Bayside Lakes
    $48,000
    0.23 Acres

    Residential Lot Near Bayside Lakes

    Residential lot near shopping, restaurants, and medical facilities.

    1711 Olympia Ave SW, Palm Bay, FL 32908
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    Residential Lot Near Bayside Lakes
    $48,000
    0.23 Acres

    Residential Lot Near Bayside Lakes

    Residential lot near shopping, restaurants, and medical facilities.

    1721 Olympia Ave SW, Palm Bay, FL 32908
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    Melbourne Religious Facility Investment Opportunity
    $550,000
    3,266 SF

    Melbourne Religious Facility Investment Opportunity

    Well-maintained 3,266 sq ft property with religious zoning exemption.

    2787 Aurora Rd, Melbourne, FL 32935
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    Buildable Land in Palm Bay
    $73,000
    0.40 Acres

    Buildable Land in Palm Bay

    0.40-acre lot with city water access, ideal for building.

    2961 Palisades Dr SE, Palm Bay, FL 32909
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    Palm Bay Land For Sale
    $49,000
    10,454 SF

    Palm Bay Land For Sale

    Land in a rapidly growing area with convenient retail access.

    1491 Towton St Southeast, Palm Bay, FL 32909
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    For Lease (2)

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    Retail Space on Aurora Road
    $350 / Mo
    6,000 SF

    Retail Space on Aurora Road

    Retail space available on high-traffic Aurora Road in Melbourne.

    2722 Aurora Rd, Melbourne, FL 32935
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    Renovated Warehouse and Showroom Space
    $3,850 / Mo
    3,280 SF

    Renovated Warehouse and Showroom Space

    Extensively renovated warehouse and showroom with expansion options available.

    1030 Aurora Rd, Melbourne, FL 32935
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    Keller Williams Realty Brevard
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Keller Williams Realty Brevard
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