Mixed-Use Property with
For Sale
$699,900
170 Enterprise Ave SE, Palm Bay, FL 32909
Multiple private offices and an upstairs apartment provide distinct professional and residential spaces.
Property Size2,925 SF
Price / SF$239.28
Days on Market9
Property Features for 170 Enterprise Ave SE
General Information
Standard status
Active
Size
2,925 SF
Total Parking Spaces
9
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1982
Buildings
1
Building Size
2,925 SF
Listing Agency:
Relentless Real Estate Co.
Listed By:
Jennifer Brown · License #3592570
(321) 412-4021
Source:
Greaterorlandohomesforsale
Added: Sep 25
Changed: Oct 1
Last Checked: Oct 2 at 9:06PM
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 Relentless Real Estate Co.
Investment Insights
Based on property information with market context.
Built in 1982, this 2,925 SF mixed-use property combines professional space with an upstairs apartment featuring a bathroom and shower. The main level includes a reception and waiting area, several private offices, two guest restrooms near the entrance, and two private restrooms toward the rear. Plumbing extends throughout, with floor power access and substantial plumbing and electrical infrastructure. The building previously housed a dental office and med spa and most recently operated as a services company.
The property occupies a double lot and includes 9 dedicated parking spaces. Its layout and infrastructure accommodate office, medical, dental, spa, or service-business functions, including operations requiring equipment storage.
The property occupies a double lot and includes 9 dedicated parking spaces. Its layout and infrastructure accommodate office, medical, dental, spa, or service-business functions, including operations requiring equipment storage.
Key Highlights
- 2,925 SF building on a double lot
- 9 dedicated parking spaces
- Upstairs apartment includes a bathroom and shower
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
$39,803
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
5.69%
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%
$796,060
$796.1K
Cap Rate 7%
$568,614
$568.6K
Cap Rate 9%
$442,256
$442.3K
Market Conditions
NOI Build-Up for 2,925 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
$63.2K $21.60/SF
− Vacancy
−$10.1K −$3.46/SF
EGI
$53.1K $18.14/SF
− OpEx
−$13.3K −$4.54/SF
NOI
$39.8K $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%
$796,060
Cap Rate 7%
$568,614
Cap Rate 9%
$442,256
Alternative Uses
Best Use
Office B
$568.6K
$497.5K – $663.4K
NOI $39,803 @ 7.0% cap · market cap 5.69%
Second Best
Healthcare Medical
$525.9K
$460.2K – $613.6K
NOI $36,813 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$771.7K
$675.2K – $900.3K
NOI $54,019 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
702
Businesses Nearby
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multiple private offices and an upstairs apartment provide distinct professional and residential spaces.
Where is this mixed-use property located?
The property is located at 170 Enterprise Ave SE Palm Bay, FL.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 2,925 SF building on a double lot; 9 dedicated parking spaces; Upstairs apartment includes a bathroom and shower
