Remodeled Duplex with
For Sale
$875,000
6922 SE Babcock Street, Palm Bay, FL 32909
General Commercial zoning accompanies two updated residential buildings, a private pool, and a separate apartment-style dwelling.
Property Size5,150 SF
Lot Size1.76 Acres
Price / SF$169.90
Days on Market39
Property Features for 6922 SE Babcock Street
General Information
Standard status
Active
Size
5,150 SF
Lot size
1.76 Acres
Zoning
General Commercial
Amenities
pool
outdoor tiki bar with firepit
outdoor half bath
covered RV with hookups
monitored security system
Building Details
Buildings
2
Listing Agency:
Flamm Real Estate LLC
(321) 863-8498
Listed By:
Teresa Flamm · License #3014466
(321) 863-8498
Source:
Startbrevardsearch
Added: Jul 24
Changed: Aug 30
Last Checked: Aug 30 at 5:42PM
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 Flamm Real Estate LLC
Investment Insights
Based on property information with market context.
This 5,150-square-foot duplex property comprises a primary residence and a separate 2-bedroom, 1-bath dwelling unit. Both buildings have been remodeled with updated flooring, fixtures, cabinetry, kitchens, and bathrooms. The main residence includes a private pool, outdoor tiki bar, firepit, and outdoor half bath. A covered RV area with hookups, monitored security system, and 10-by-16-foot shed are also located on the 1.76-acre property; the shed does not convey.
The property is zoned General Commercial and is currently used residentially. Tenants are in place, and solar panels are leased, with the lease transferring to the new buyers. The separate dwelling provides additional on-site living space within the two-building configuration.
The property is zoned General Commercial and is currently used residentially. Tenants are in place, and solar panels are leased, with the lease transferring to the new buyers. The separate dwelling provides additional on-site living space within the two-building configuration.
Key Highlights
- 1.76‑acre property zoned General Commercial
- 5,150 square feet across two remodeled residential buildings
- Separate 2‑bedroom, 1‑bath dwelling unit
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
Current Use
Location Intelligence
Trade Area within ½ mile
2
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 accompanies two updated residential buildings, a private pool, and a separate apartment-style dwelling.
Where is this duplex located?
The property is located at 6922 SE Babcock Street 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: 1.76‑acre property zoned General Commercial; 5,150 square feet across two remodeled residential buildings; Separate 2‑bedroom, 1‑bath dwelling unit
