Remodeled Duplex With
For Sale
$875,000
6922 Babcock Street SE, Palm Bay, FL 32909
COMMERCIAL - Palm Bay, FL
Property Size5,150 SF
Lot Size1.76 Acres
Price / SF$169.90
Days on Market168
Property Features for 6922 Babcock Street SE
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Parking features
RV, Open
Security features
Security System
Fencing
Chain Link, Fenced
Directions
Babcock St south of Malabar Rd just past Ace Hardware on the right
Subdivision
343 - SE Palm Bay
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
Legal Description
S 130 FT OF LOT 16 AS DES IN ORB 1435 PG 790
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Well
Amenities
pool
tiki bar
firepit
outdoor half bath
covered RV hookups
monitored security system
Building Details
Year built
1972
Floors in Building
1
Number of units
2
Flooring type
Tile, Wood
Building materials
Block, Concrete, Stucco
Roof type
Shingle, Metal
Listing Agency:
Flamm Real Estate LLC
(321) 863-8498
Listed By:
Teresa Flamm · License #3014466
(321) 863-8498
Added: Mar 3
Changed: Aug 4
Last Checked: Aug 18 at 1:06PM
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.
Investment Insights
Based on property information with market context.
This 5,150-square-foot duplex property includes a remodeled pool home and a separate 2-bedroom, 1-bath apartment. Both buildings feature updated flooring, fixtures, cabinetry, kitchens, and bathrooms. The main residence includes a private pool, outdoor tiki bar, firepit, and exterior half bath, while the property also offers a covered RV area with hookups, a monitored security system, and a new metal roof on the pool home. Construction includes block, concrete, and stucco, with tile and wood flooring, central heating, and central air conditioning.
The property occupies 1.76 acres at 6922 Babcock Street SE in Palm Bay, Florida. It is zoned General Commercial and currently used residentially, with tenants in place. Additional site features include a fenced lot, open parking, a 10x16 shed that does not convey, well water, septic service, and leased solar panels that will transfer to the new buyers.
The property occupies 1.76 acres at 6922 Babcock Street SE in Palm Bay, Florida. It is zoned General Commercial and currently used residentially, with tenants in place. Additional site features include a fenced lot, open parking, a 10x16 shed that does not convey, well water, septic service, and leased solar panels that will transfer to the new buyers.
Key Highlights
- 5,150 SF duplex property on 1.76 acres
- Separate 2‑bedroom, 1‑bath dwelling unit
- General Commercial zoning with current residential use
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
$60,423
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
6.91%
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%
$1,208,460
$1.2M
Cap Rate 7%
$863,186
$863.2K
Cap Rate 9%
$671,367
$671.4K
Market Conditions
NOI Build-Up for 5,150 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
$93.3K $18.12/SF
− Vacancy
−$7.0K −$1.36/SF
EGI
$86.3K $16.76/SF
− OpEx
−$25.9K −$5.03/SF
NOI
$60.4K $11.73/SF
Area
Palm Bay, FL
Vacancy
7.50%
Lease Rate
$18.12 /SF/Yr
Expense Ratio
30.00%
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%
$1,208,460
Cap Rate 7%
$863,186
Cap Rate 9%
$671,367
Alternative Uses
Best Use
Multifamily LT 5
$863.2K
$755.3K – $1.01M
NOI $60,423 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$766.8K
$671.0K – $894.6K
NOI $53,677 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,110 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
51
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
Market
Vacancy Rate% for Multifamily 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?
Duplex - General Commercial zoning supports a residential duplex configuration with a separate apartment and outdoor amenities.
Where is this duplex 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: 5,150 SF duplex property on 1.76 acres; Separate 2‑bedroom, 1‑bath dwelling unit; General Commercial zoning with current residential use
