Multi-Tenant Flex
For Sale
Contact for pricing
1728 Agora Circle Southeast, Palm Bay, FL 32909
Flexible commercial configuration with GC zoning and proximity to I-95.
Property Size6,540 SF
Price / SF$133.79
Days on Market96
Property Features for 1728 Agora Circle Southeast
General Information
Standard status
Active
Size
6,540 SF
Property subtype
Industrial
Zoning
GC - General Commercial
Occupancy
60%
Listing Agency:
Matthews
Listed By:
Michael Buonadonna · License #SL3531894
Source:
Crexi
Added: May 28
Changed: Aug 30
Last Checked: Aug 30 at 12:31PM
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 Matthews
Investment Insights
Based on property information with market context.
This 6,540-square-foot flex space is configured for multiple tenants and carries GC—General Commercial—zoning. The property is positioned near I-95 in Palm Bay, Florida, providing a commercially oriented setting for flexible occupancy and operations.
Located at 1728 Agora Circle Southeast, the asset combines an adaptable flex-space format with a multi-tenant layout. Its zoning and highway proximity are central physical and locational characteristics for evaluating the property.
Located at 1728 Agora Circle Southeast, the asset combines an adaptable flex-space format with a multi-tenant layout. Its zoning and highway proximity are central physical and locational characteristics for evaluating the property.
Key Highlights
- 6,540 square feet of flex space
- Multi‑tenant configuration
- GC - General Commercial zoning
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
$66,775
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
7.63%
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%
$1,335,500
$1.3M
Cap Rate 7%
$953,929
$953.9K
Cap Rate 9%
$741,944
$741.9K
Market Conditions
NOI Build-Up for 6,540 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
$109.9K $16.80/SF
− Vacancy
−$7.1K −$1.09/SF
EGI
$102.7K $15.71/SF
− OpEx
−$36.0K −$5.50/SF
NOI
$66.8K $10.21/SF
Area
Palm Bay, FL
Vacancy
6.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
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%
$1,335,500
Cap Rate 7%
$953,929
Cap Rate 9%
$741,944
Alternative Uses
Best Use
Flex RnD
$953.9K
$834.7K – $1.11M
NOI $66,775 @ 7.0% cap · market cap 7.63%
Second Best
Industrial
$894.7K
$782.8K – $1.04M
NOI $62,627 @ 7.0% cap · market cap 7.16%
Theoretical Best
Office A
$1.73M
$1.51M – $2.01M
NOI $120,781 @ 7.0% cap · market cap 13.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
713
Businesses Nearby
Balanced
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
Market
Vacancy Rate% for Industrial 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?
Flex space - Flexible commercial configuration with GC zoning and proximity to I-95.
Where is this flex space located?
The property is located at 1728 Agora Circle Southeast Palm Bay, FL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 6,540 square feet of flex space; Multi‑tenant configuration; GC - General Commercial zoning
