Day Care Center with Medical
For Sale
$1,100,000
422 Martin Road SE, Palm Bay, FL 32909
Commercial Sale, Palm Bay, FL
Property Size4,680 SF
Lot Size0.58 Acres
Price / SF$235.04
Days on Market934
Property Features for 422 Martin Road SE
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 4, Bathroom 3, Bathroom 2, Bathroom 5, Bathroom 1
Parking features
Off Street, Gated, Parking Lot, Carport
Security features
Security Lighting
Subdivision
Port Malabar Unit 40
Directions
From Intersection of Babcock Street and Malabar Road, South on Babcock, East on Convair, South on Martin Road. Building on Right (West) Side of Street.
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
Legal Description
PORT MALABAR UNIT 40 LOT 35 BLK 1990
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Ceiling Fan(s), Central Air, Electric
Water source
Public
Amenities
Raised Ceilings
Ceramic Flooring Throughout
Community Rooms
Offices
Commercial Kitchens
Multiple Bathrooms
Laundry
Pantries
Covered Wrap-Around Porch
Screened Porch
Portico
Perimeter Fencing
Building Details
Year built
2009
Floors in Building
1
Number of units
1
Flooring type
Tile
Building materials
Concrete
Roof type
Metal
Listing Agency:
Dale Sorensen Real Estate Inc.
(321) 723-9990
Listed By:
Joseph Mignone · License #3065565
(321) 501-8307
Added: Feb 21, 2024
Changed: Sep 3
Last Checked: Sep 12 at 8:06AM
MLS# 1005760
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.
This 4,680-square-foot day care center occupies a concrete-frame building constructed in 2009 with a metal roof, raised ceilings, and tile flooring. The interior includes community rooms, offices, two commercial kitchens, multiple bathrooms, laundry facilities, pantries, and covered wrap-around and screened porches. A portico, perimeter fencing, sprinkler system, and dedicated riser room are also provided. The current adult day care operation has medical-oriented features, while the owner can vacate for a new business.
The 0.58-acre property has 20 parking spaces and access to public water and public sewer. General Commercial zoning permits multiple and varied uses, with signage exposure along Babcock Street. The site is near I-95, Palm Bay Hospital, and arterial roadways. The business is excluded from the real estate transaction but may be negotiated separately with a qualified buyer seeking to continue the existing operation.
The 0.58-acre property has 20 parking spaces and access to public water and public sewer. General Commercial zoning permits multiple and varied uses, with signage exposure along Babcock Street. The site is near I-95, Palm Bay Hospital, and arterial roadways. The business is excluded from the real estate transaction but may be negotiated separately with a qualified buyer seeking to continue the existing operation.
Key Highlights
- 4,680‑square‑foot building on a 0.58‑acre parcel
- General Commercial zoning supports multiple and varied uses
- Two commercial kitchens, community rooms, offices, laundry, and multiple bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$58,901
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,178,020
$1.2M
Cap Rate 7%
$841,443
$841.4K
Cap Rate 9%
$654,456
$654.5K
Market Conditions
NOI Build-Up for 4,680 SF
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.
Gross rent
$106.7K $22.80/SF
− Vacancy
−$8.5K −$1.82/SF
EGI
$98.2K $20.98/SF
− OpEx
−$39.3K −$8.39/SF
NOI
$58.9K $12.59/SF
Area
Palm Bay, FL
Vacancy
8.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,178,020
Cap Rate 7%
$841,443
Cap Rate 9%
$654,456
Alternative Uses
Best Use
Healthcare Medical
$841.4K
$736.3K – $981.7K
NOI $58,901 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,430 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
485
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32909, FL
36,789
Population
14,278
Households
2.6
Avg Household Size
42
Median Age
23%
College-Educated
92%
High-School Grad
57.7 sq mi
ZIP Area
638
Density / Sq Mi
$76,708
Median Household Income
$36,071
Median Earnings
$1,502
Median Rent
$261,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Similar Off Market Nearby
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- Playsmart Learning Center — 111 Tango Ave NE, Palm Bay, FL 32907
Frequently Asked Questions
What type of property is this?
Day care center - General Commercial zoning and Babcock Street signage exposure support a range of business uses.
Where is this day care center located?
The property is located at 422 Martin Road SE Palm Bay, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 4,680‑square‑foot building on a 0.58‑acre parcel; General Commercial zoning supports multiple and varied uses; Two commercial kitchens, community rooms, offices, laundry, and multiple bathrooms
