Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2330 Commerce Park Dr, Unit 1 Palm Bay, FL 32905

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $9 SF/Yr

    Office space with hard wall offices and conference rooms.

    Building Details

    Year built
    1987

    We can help!

    Listing Contact
    Zach Ullian, Sior
    Source: Ullianrealty

    Listing Agent: Zach Ullian, Sior

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Office Space in Woodlake Park

    Located in Woodlake Commerce Business Park, this office space features a configuration of hard wall offices and open areas, along with conference and training rooms. The property provides access to Highway US 1, Palm Bay Road, and Interstate 95. Melbourne International Airport is approximately 15 minutes away by car.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Bay
    County
    Brevard
    State
    Florida
    Longitude
    -80.6019241
    Latitude
    28.0499319

    Nearby Similar for Lease

    • $1,400 /Mo
      83,635 SF

      Palm Bay Commercial Space Available

      1150 sqft commercial space in high-traffic area.
      2105 Palm Bay Rd NE, Palm Bay, FL 32905
      View Details
    • $1,200 /Mo

      Palm Bay Flex Space Available

      Flex space with warehouse, loft, and air-conditioned office.
      1300 Clearmont St NE, Palm Bay, FL 32905
      View Details
    • $3,500 /Mo
      81,022 SF

      New Retail/Office Space Available

      Prime retail/office space in a newly constructed building.
      70 San Filippo Dr SE, Palm Bay, FL 32909
      View Details
    • $800 /Mo

      Office Space in Palm Bay

      Clean office space with convenient location and flexible layout.
      1418 NE Norman St, Palm Bay, FL 32907
      View Details
    • New
      $21 SF/Yr
      50,094 SF

      Palm Bay Retail Leasing Opportunity

      New build retail space with build-to-suit options available.
      1922 NE Palm Bay Rd, Palm Bay, FL 32905
      View Details
    • $4,000 /Mo

      Retail Space on Malabar Road

      Retail space with flexible layout and fenced rear exterior.
      1344 Malabar Rd SE, Palm Bay, FL 32907
      View Details
    • $14 SF/Yr
      803 SF

      Babcock Street Office Space Available

      Second floor office space on busy Babcock Street for lease.
      5205 Babcock St NE, Palm Bay, FL
      View Details
    • $1,100 /Mo
      900 SF

      Retail Space in Palm Bay

      Retail space available for lease in Palm Bay, Florida.
      1707 Canova St Se, Palm Bay, FL 32909
      View Details
    • $12 SF/Yr
      1,625 SF

      Medical Office and Former Gym

      Medical office and former gym space available for lease.
      580 Malabar Rd SE, Palm Bay, FL
      View Details
    • $15 SF/Yr
      1,750 SF

      Retail Space Near New Apartments

      Retail spaces available near Indian River Flats apartment complex.
      4700 Dixie Hwy NE, Palm Bay, FL 32905
      View Details
    • $19 SF/Yr
      396 SF

      Modern Move-In Ready Office Space

      Modern office space with utilities included in Palm Bay.
      2475 Palm Bay Rd NE, Palm Bay, FL 32905
      View Details
    • $23 SF/Yr

      Executive Office Suites For Rent

      Executive office suites available in a high-traffic Palm Bay location.
      4620 Lipscomb St NE, Palm Bay, FL 32905
      View Details

    FAQs

    What type of property is this?
    Office units - Office space with hard wall offices and conference rooms.
    Where is this office units located?
    The property is located at 2330 Commerce Park Dr, Unit 1 Palm Bay, FL.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    What are key features of this property?
    This property features: - Strategic location in Woodlake Commerce Business Park; - Combination of hard wall offices & open configuration; - Conference/training rooms on-site
    (321) 750-3439
    Request Owner's contact information
    2330 Commerce Park Dr, Unit 1 Palm Bay, FL 32905
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2330 Commerce Park Dr, Unit 1
    Palm Bay, FL 32905
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    2330 Commerce Park Dr, Unit 1 Palm Bay, FL 32905
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Zach Ullian, Sior
    (321) 750-3439
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!