Corner-Lot Office
For Sale
$359,900
6070 Minton Road NW, Palm Bay, FL 32907
SINGLE_FAMILY - Palm Bay, FL
Property Size1,776 SF
Lot Size0.54 Acres
Price / SF$202.65
Days on Market24
Property Features for 6070 Minton Road NW
General Information
Property type
Residential
Property subtype
Office
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
Parking features
Garage
Subdivision
Port Malabar Unit 13
Lot features
Corner Lot
Directions
I-95 to Palm Bay Rd, west to Minton Rd, south to property on left.
Standard status
Active
APN
28-36-36-Ex-00618.0-0018.00
Size
1,776 SF
Lot size
0.54 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PORT MALABAR UNIT 13 LOTS 18 & 19 BLK 618 EXC RD R/W
Tax Annual Amount
5129
Legal Description
PORT MALABAR UNIT 13 LOTS 18 & 19 BLK 618 EXC RD R/W
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1982
Number of units
1
Flooring type
Tile, Carpet
Building materials
Brick, Frame
Roof type
Shingle
Listing Agency:
Waterman Real Estate Inc.
(321) 244-7653
Listed By:
Meili Viera Porter
(321) 848-7344
Added: Jul 21
Changed: Jul 30
Last Checked: Aug 13 at 7:06AM
MLS# 1083019
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 corner-lot office building offers 1,776 SF in an existing structure ready to be converted into professional office space. OP zoning is in place, supporting a variety of professional and general office uses without the need for rezoning. The property has multiple points of ingress and egress, four existing parking spaces, and an attached two-car garage.
Built in 1982, the building features a brick and frame construction with tile and carpet flooring, central heating, and central air conditioning. The roof is shingle, and utilities include public water and public sewer. The property sits on a 0.54-acre lot with excellent frontage on Minton Road and outstanding exposure to approximately 27,500 vehicles per day.
The layout includes two bathrooms. Additional access and parking support daily operations for an office user seeking an owner-user location or a flexible investment option.
Built in 1982, the building features a brick and frame construction with tile and carpet flooring, central heating, and central air conditioning. The roof is shingle, and utilities include public water and public sewer. The property sits on a 0.54-acre lot with excellent frontage on Minton Road and outstanding exposure to approximately 27,500 vehicles per day.
The layout includes two bathrooms. Additional access and parking support daily operations for an office user seeking an owner-user location or a flexible investment option.
Key Highlights
- OP zoning already in place for professional and general office uses
- 0.54‑acre corner lot with excellent frontage on Minton Road
- 1,776 SF existing building ready for professional office conversion
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
$24,168
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
6.72%
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%
$483,360
$483.4K
Cap Rate 7%
$345,257
$345.3K
Cap Rate 9%
$268,533
$268.5K
Market Conditions
NOI Build-Up for 1,776 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
$38.4K $21.60/SF
− Vacancy
−$6.1K −$3.46/SF
EGI
$32.2K $18.14/SF
− OpEx
−$8.1K −$4.54/SF
NOI
$24.2K $13.61/SF
Area
Palm Bay, FL
Vacancy
16.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$483,360
Cap Rate 7%
$345,257
Cap Rate 9%
$268,533
Alternative Uses
Best Use
Office B
$345.3K
$302.1K – $402.8K
NOI $24,168 @ 7.0% cap · market cap 6.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$468.6K
$410.0K – $546.7K
NOI $32,799 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
147
Businesses Nearby
Explore this area
Business Placement
Demographics for 32907, FL
44,432
Population
17,761
Households
2.5
Avg Household Size
44
Median Age
22%
College-Educated
91%
High-School Grad
17.7 sq mi
ZIP Area
2,510
Density / Sq Mi
$71,827
Median Household Income
$36,498
Median Earnings
$1,693
Median Rent
$253,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - 0.54-acre corner lot office building with OP zoning, 1,776 SF, and multiple access points plus parking and a two-car garage.
Where is this office building located?
The property is located at 6070 Minton Road NW Palm Bay, FL.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: OP zoning already in place for professional and general office uses; 0.54‑acre corner lot with excellent frontage on Minton Road; 1,776 SF existing building ready for professional office conversion
