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    1922 NE Palm Bay Rd Palm Bay, FL 32905

    View on Map
    Sponsored
    For Lease
    $21 SF/Yr

    Commercial Lease, Other - Palm Bay, FL

    Type:Mixed Use
    Property size:
    10,000 SF
    Lot size:
    1.15 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 6 at 7:06 pm

    Property Features for 1922 NE Palm Bay Rd

    General Information

    Property type
    Commercial Lease
    Property subtype
    Mixed Use
    Standard status
    Active
    APN
    28-37-22-00-527
    Size
    10,000 SF
    Lot size
    1.15 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Flooring type
    Concrete, Tile
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Richard Angelo Bettencourt

    Engel & Völkers Hutchinson Island (772) 410-4155

    Listing agent Richard Angelo Bettencourt (772) 410-4155

    Listing date Mar 5, 2026

    MLS# F10556324 Listing URL

    Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Palm Bay Retail Leasing Opportunity

    This Palm Bay property presents a leasing and sale opportunity for a Class A, free-standing, new build spanning 10,000 square feet. The property offers potential build-to-suit options for an end-user or a user seeking multi-tenant build-out. The retail space features a potential of 10 bays with a vanilla shell finish, with water and electric stubbed in for each unit. The property benefits from heavy traffic counts on Palm Bay Road.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Palm Bay
    County
    Brevard
    State
    Florida
    Longitude
    -80.614692
    Latitude
    28.034213

    Nearby Similar for Lease

    • $1,400 /Mo
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      Palm Bay Commercial Space Available

      1150 sqft commercial space in high-traffic area.
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      Palm Bay Flex Space Available

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      New Retail/Office Space Available

      Prime retail/office space in a newly constructed building.
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      Retail Space on Malabar Road

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      Babcock Street Office Space Available

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      Retail Space in Palm Bay

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      Medical Office and Former Gym

      Medical office and former gym space available for lease.
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      Retail Space Near New Apartments

      Retail spaces available near Indian River Flats apartment complex.
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    • $19 SF/Yr
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      Modern Move-In Ready Office Space

      Modern office space with utilities included in Palm Bay.
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    • $9 SF/Yr

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      Office space with hard wall offices and conference rooms.
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    • $23 SF/Yr

      Executive Office Suites For Rent

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    FAQs

    What type of property is this?
    Mixed-use property - New build retail space with build-to-suit options available.
    Where is this mixed-use property located?
    The property is located at 1922 NE Palm Bay Rd Palm Bay, FL.
    What is the lease rate?
    The lease rate is $21 SF/Yr.
    What are key features of this property?
    This property features: - New 10,000 sq ft Free Standing Building: A blank canvas ready for your vision and immediate occupancy.; - Build-to-Suit Opportunity: Tailor the construction to perfectly match your business or tenant requirements.; - Multi-Tenant Potential: Explore diverse income streams by dividing the space into multiple units.
    (772) 643-0889
    Request Owner's contact information
    1922 NE Palm Bay Rd Palm Bay, FL 32905
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    Palm Bay, FL 32905
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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
    1922 NE Palm Bay Rd Palm Bay, FL 32905
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    We can help!
    Listing Contact
    Richard Angelo Bettencourt
    Real Estate License ID: 3531866
    (772) 643-0889 (772) 410-4155
    Learn more
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