422 Martin Road SE Palm Bay, FL 32909
COMMERCIAL - Palm Bay, FL
Property Features for 422 Martin Road SE
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bathrooms
- 5
- Rooms
- Bathroom 1, Bathroom 4, Bathroom 3, Bathroom 2, Bathroom 5
- Parking features
- Carport, Off Street, Gated, Parking Lot
- Security features
- Security Lighting
- Standard status
- Active
- APN
- 29-37-03-26-01990.0-0035.00
- Size
- 4,680 SF
- Lot size
- 0.58 Acres
Taxes and HOA fees
- Tax Year
- 2022
- Tax Description
- PORT MALABAR UNIT 40 LOT 35 BLK 1990
- Tax Annual Amount
- 10157
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Central
- Cooling system
- Electric, Central Air, Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 2009
- Floors in Building
- 1
- Number of units
- 1
- Flooring type
- Tile
- Building materials
- Concrete
- Roof type
- Metal
Listing agent Joseph Mignone License #3065565 (321) 501-8307
Listing office Dale Sorensen Real Estate Inc. 436 Fifth Ave., Indialantic, FL (321) 723-9990
Listing date Feb 21, 2024
Copyright © 2026 Space Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Zoned for “General Commercial,” the property is described as allowing multiple and varied uses (see zoning documents, floor plan, and maps). The listing notes exposure and signage on Babcock Street, with proximity to I-95, Palm Bay Hospital, and nearby arterial roadways.
The current use is adult day care with medical overtones. The seller will vacate for a new owner or business; the business is excluded but may be negotiated separately for qualified buyers wishing to continue adult day care operations. Seller financing is also being offered.
Key Highlights
- 2009‑built commercial CBS building with metal roof and concrete construction materials
- Zoned General Commercial for multiple and varied uses (see documents for zoning, floor plan, and maps)
- Adult day care setup with community rooms, offices, multiple bathrooms, and (2) commercial kitchens
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $106.7k | $22.80 |
| − Vacancy | −$8.5k | −$1.82 |
| EGI | $98.2k | $20.98 |
| − OpEx | −$39.3k | −$8.39 |
| NOI | $58.9k | $12.59 |
Alternative Uses
Property Analytics
Current Use by Public Records
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