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    Palm Bay Commercial Property Title is generated by Realmo AI

    6922 Babcock Street SE, Palm Bay, FL 32909

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    For Sale
    $875,000

    COMMERCIAL - Palm Bay, FL

    Property size:
    5,150 SF
    Lot size:
    1.76 Acres
    Price / SF:
    $169/SF
    Added:
    Mar 3, 2026
    Days on Market:
    73
    Last Refresh:
    May 15 at 4:06 pm

    Property Features for 6922 Babcock Street SE

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bathrooms
    3
    Rooms
    Bathroom 2, Bathroom 3, Bathroom 1
    Parking features
    Open, RV
    Security features
    Security System
    Fencing
    Fenced, Chain Link
    Standard status
    Active
    APN
    29-37-09-00-00755.0-0000.00
    Size
    5,150 SF
    Lot size
    1.76 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    S 130 FT OF LOT 16 AS DES IN ORB 1435 PG 790
    Tax Annual Amount
    2122

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air
    Water source
    Well

    Building Details

    Year built
    1972
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Wood, Tile
    Building materials
    Block, Concrete, Stucco
    Roof type
    Shingle, Metal

    We can help!

    Listing Contact
    Teresa Flamm
    Teresa Flamm

    Listing agent Teresa Flamm License #3014466

    Listing office Flamm Real Estate LLC 9202 Flamms Pl., Palm Bay, FL

    Listing date Mar 3, 2026

    MLS# 1070880

    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.

    HighLights

    • Income‑producing property with tenants in place and additional dwelling unit (2 bed/1 bath apartment/mother‑in‑law suite).
    • Zoned General Commercial with current residential use on 1.76 acres.
    • Private pool with outdoor tiki bar, firepit, and outdoor half bath.
    • New metal roof.
    • Remodeled buildings with updated flooring, fixtures, cabinets, kitchens, and baths.
    • Covered RV parking with hookups.

    Overview

    This property, located in Palm Bay, Florida, is zoned for general commercial use but is currently used as a residence. The property includes a pool home with a new metal roof, situated on 1.76 acres. The home features a private pool, an outdoor tiki bar, a firepit, and an outdoor half bath. Additionally, there is a separate dwelling unit with 2 bedrooms and 1 bathroom, which could serve as an apartment or mother-in-law suite. Both buildings have been remodeled with updated flooring, fixtures, cabinets, kitchens, and baths. The property also includes covered RV parking with hookups. A monitored security system is in place. The property is currently income-producing with tenants. Leased solar panels will transfer to the new buyers. The total property size is 5150 square feet.

    Financial Insights

    Value Estimation Calculated for Mixed Use

    Conservative
    $663.9K
    NOI $59,753 @ 9.00% cap · cautious / downside scenario
    Moderate
    $853.6K
    NOI $59,753 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.20M
    NOI $59,753 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Mixed Use

    Component $ $/SF
    Gross rent $105.1k $20.40
    − Vacancy −$9.5k −$1.84
    EGI $95.6k $18.56
    − OpEx −$35.9k −$6.96
    NOI $59.8k $11.60
    5,150 SF · lease $20.40/SF/yr · vacancy 9.00% · expense 37.50%

    Alternative Use Scenarios

    Best Use
    Mixed Use
    $853.6K
    $746.9K – $995.9K (±1% cap)
    NOI $59,753 @ 7.0% cap · market cap 6.83%
    Second Best
    Apartment 5plus
    $766.8K
    $671.0K – $894.6K (±1% cap)
    NOI $53,677 @ 7.0% cap · market cap 6.13%
    Theoretical Best
    Office A
    $1.36M
    $1.19M – $1.59M (±1% cap)
    NOI $95,110 @ 7.0% cap · market cap 10.87%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Bay
    County
    Brevard
    State
    Florida
    Longitude
    -80.75
    Latitude
    27.9268

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    FAQs

    What type of property is this?
    Mixed-use property - Income-producing property with pool, tiki bar, and separate dwelling.
    Where is this mixed-use property located?
    The property is located at 6922 Babcock Street SE 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: Income‑producing property with tenants in place and additional dwelling unit (2 bed/1 bath apartment/mother‑in‑law suite).; Zoned General Commercial with current residential use on 1.76 acres.; **Private pool with outdoor tiki bar, firepit, and outdoor half bath.**
    (321) 863-8498
    We can help!
    Listing Contact
    Teresa Flamm
    Teresa Flamm
    Real Estate License ID: 3014466
    Learn More
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    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
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