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Versatile Commercial Property on Babcock

422 Martin SE Road, Palm Bay, FL 32909

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For Sale

$1,100,000

General Commercial zoned property suitable for multiple uses.

Type:Commercial/Industrial

Property size:

4,680 SF

Lot size:

0.58 Acres

Price / SF:

$235/SF

HighLights

Seller financing offered.
Prime commercial property with 'General Commercial' zoning allowing multiple uses.
Well‑designed CBS building with metal roof, raised ceilings, and ceramic flooring.
Set up conducive to various medical facility usages, clinics, laboratories, electronics - R&D, etc.
Fully compliant sprinkler system/riser room and 20 parking spaces.
Proximate to I‑95, Palm Bay Hospital, and arterial roadways.

We can help!

Contact an agent

Joseph Mignone

For Sale

$1,100,000

General Commercial zoned property suitable for multiple uses.

Type:Commercial/Industrial

Property size:

4,680 SF

Lot size:

0.58 Acres

Price / SF:

$235/SF

Added:: Apr 9, 2024
Days on Market:: 820
Last Refresh:: Jul 4 at 10:34 am

Property Features for 422 Martin SE Road

General Information

Standard status: Active
Size: 4,680 SF
Lot size: 0.58 Acres
Property subtype: Commercial/Industrial

Building Details

Year Built: 2009

We can help!

Contact an agent

Joseph Mignone

Listing office Dale Sorensen Real Estate Inc.

Listing date Apr 9, 2024

Source Exitrealty

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

All listing content including descriptions, pricing, images are the copyrighted material of Dale Sorensen Real Estate Inc.

HighLights

Seller financing offered.
Prime commercial property with 'General Commercial' zoning allowing multiple uses.
Well‑designed CBS building with metal roof, raised ceilings, and ceramic flooring.
Set up conducive to various medical facility usages, clinics, laboratories, electronics - R&D, etc.
Fully compliant sprinkler system/riser room and 20 parking spaces.
Proximate to I‑95, Palm Bay Hospital, and arterial roadways.

Overview

This commercial property, currently used as an adult day care with medical overtones, is available for sale. The seller is willing to vacate the premises for a new owner or business and is offering seller financing. Zoned 'General Commercial,' the property allows for multiple and varied uses, as detailed in the provided zoning documents, floor plan, and maps. The building offers exposure and signage opportunities on Babcock Street. The well-designed CBS building features a metal roof, raised ceilings, and ceramic flooring throughout. The layout includes community rooms, offices, two commercial kitchens, multiple bathrooms, laundry facilities, pantries, a covered wrap-around porch, a screened porch, and a portico. The setup is conducive to various medical facility usages, clinics, laboratories, and electronics research and development. The property is fully compliant with fire codes, featuring a sprinkler system and riser room. There are 20 parking spaces and perimeter fencing. The location is proximate to I-95, Palm Bay Hospital, and arterial roadways. The business is excluded but may be negotiated separately for a qualified buyer wanting to continue the adult day care operation. The property size is 4680 square feet.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$101.1k	$21.60
− Vacancy	−$16.2k	−$3.46
EGI	$84.9k	$18.14
− OpEx	−$21.2k	−$4.54
NOI	$63.7k	$13.61

4,680 SF · lease $21.60/SF/yr · vacancy 16.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$909.8K

$796.1K – $1.06M (±1% cap)

NOI $63,685 @ 7.0% cap · market cap 5.79%

Second Best

Healthcare Medical

$841.4K

$736.3K – $981.7K (±1% cap)

NOI $58,901 @ 7.0% cap · market cap 5.35%

Theoretical Best

Office A

$1.23M

$1.08M – $1.44M (±1% cap)

NOI $86,430 @ 7.0% cap · market cap 7.86%

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

Property Profile Location Intelligence

Current Use by Public Records

Medical centers

Suggested Use

Location Insight

Map
Local Demand

City: Palm Bay
County: Brevard
State: Florida
Longitude: -80.621273
Latitude: 27.9903094

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For sale
Medical centers
FL
Palm Bay
32909
422 Martin SE Road

What type of property is this?

Medical center - General Commercial zoned property suitable for multiple uses.

Where is this medical center located?

The property is located at 422 Martin SE Road 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: Seller financing offered.; Prime commercial property with 'General Commercial' zoning allowing multiple uses.; Well‑designed CBS building with metal roof, raised ceilings, and ceramic flooring.