Day Care Center with Medical
422 Martin Road SE, Palm Bay, FL 32909
For Sale
$1,100,000
Commercial Sale, Palm Bay, FL
Property Size4,680 SF
Lot Size0.58 Acres
Price / SF$235.04
Days on Market996
Property Features for 422 Martin Road SE
General Information
Property type
Property subtype
Bathrooms
Full bathrooms
Rooms
Parking features
Security features
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Currently Operating
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
Raised Ceilings
Ceramic Flooring
Community Rooms
Offices
Commercial Kitchens
Multiple Bathrooms
Laundry
Pantries
Covered Wrap-Around Porch
Screened Porch
Portico
Perimeter Fencing
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Dale Sorensen Real Estate Inc.
(321) 723-9990
Listed By:
Joseph Mignone · License FL #3065565
(321) 501-8307
Added: Feb 21, 2024
Changed: Oct 27
Last Checked: Nov 12 at 8:06AM
MLS# 1005760
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.
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Investment Insights
Based on property information with market context.
This 4,680-square-foot day care center occupies a concrete-frame building constructed in 2009 with a metal roof, raised ceilings, and tile flooring. The interior includes community rooms, offices, two commercial kitchens, multiple bathrooms, laundry facilities, pantries, and covered wrap-around and screened porches. A portico, perimeter fencing, sprinkler system, and dedicated riser room are also provided. The current adult day care operation has medical-oriented features, while the owner can vacate for a new business.
The 0.58-acre property has 20 parking spaces and access to public water and public sewer. General Commercial zoning permits multiple and varied uses, with signage exposure along Babcock Street. The site is near I-95, Palm Bay Hospital, and arterial roadways. The business is excluded from the real estate transaction but may be negotiated separately with a qualified buyer seeking to continue the existing operation.
The 0.58-acre property has 20 parking spaces and access to public water and public sewer. General Commercial zoning permits multiple and varied uses, with signage exposure along Babcock Street. The site is near I-95, Palm Bay Hospital, and arterial roadways. The business is excluded from the real estate transaction but may be negotiated separately with a qualified buyer seeking to continue the existing operation.
Key Highlights
- 4,680‑square‑foot building on a 0.58‑acre parcel
- General Commercial zoning supports multiple and varied uses
- Two commercial kitchens, community rooms, offices, laundry, and multiple bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,901
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,178,020
$1.2M
Cap Rate 7%
$841,443
$841.4K
Cap Rate 9%
$654,456
$654.5K
Market Conditions
NOI Build-Up for 4,680 SF
Gross rent
$106.7K $22.80/SF
− Vacancy
−$8.5K −$1.82/SF
EGI
$98.2K $20.98/SF
− OpEx
−$39.3K −$8.39/SF
NOI
$58.9K $12.59/SF
Area
Palm Bay, FL
Vacancy
8.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,178,020
Cap Rate 7%
$841,443
Cap Rate 9%
$654,456
Alternative Uses
Best Use
Healthcare Medical
$841.4K
$736.3K – $981.7K
NOI $58,901 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,430 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
485
Businesses Nearby
Well-served
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
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Cap Rate, Value Estimation, Potential NOI and more
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Similar Off Market Nearby
- Berri Patch Preschool — 705 Malabar Rd, Malabar, FL 32950
- Kid City USA - Palm Bay — 1516 Norman St NE, Palm Bay, FL 32907
- Playsmart Learning Center — 111 Tango Ave NE, Palm Bay, FL 32907
Frequently Asked Questions
What type of property is this?
Day care center - General Commercial zoning and Babcock Street signage exposure support a range of business uses.
Where is this day care center located?
The property is located at 422 Martin Road SE 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: 4,680‑square‑foot building on a 0.58‑acre parcel; General Commercial zoning supports multiple and varied uses; Two commercial kitchens, community rooms, offices, laundry, and multiple bathrooms
