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    6950 Babcock St Palm Bay, FL 32909

    Sponsored
    For Sale
    $4,950,000

    18 Acres, Prime SE Location, $4.95M

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 18-acre commercial land parcel in Palm Bay, Florida, presents a remarkable investment opportunity. Located on Babcock Street SE, this property boasts 795,841 square feet of unentitled land, ideal for various developments. The site is conveniently situated near the newly constructed I-95 interchanges (166 and 173), providing easy access to major transportation routes. Its location also benefits from proximity to planned Babcock Street widening projects, addressing the area's growing population. The property offers flexibility, divisible into smaller plots ranging from 4 to 14 acres, catering to diverse development plans. Potential uses include a 55+ community (4-6 units per acre), senior living facilities, townhomes, multifamily housing (up to 20 units per acre), or commercial ventures, or a combination thereof. Nearby amenities include Palm Bay Hospital and major retailers like Walmart, Publix, Home Depot, and Lowe's. Babcock Street provides convenient access to Micco, Fellsmere, Sebastian to the south and Melbourne to the north. Palm Bay's strategic location in east-central Florida, between Jacksonville and Miami, and an hour from Orlando, enhances its appeal. The current land use is residential, with zoning adaptable to your project. Utilities are readily available, and the city offers incentives through impact fee credits and future rebates. This property represents a unique chance to capitalize on Palm Bay's significant growth.

    Property Features for 6950 Babcock St

    General Information

    Property type
    Land

    HighLights

    • 18‑acre commercial land parcel in Palm Bay, FL, offering 795,841 square feet of unentitled land.
    • Excellent location on Babcock Street SE, near I‑95 interchanges 166 & 173, and planned Babcock Street widening.
    • Divisible into smaller parcels (4‑14 acres), suitable for various uses including multifamily, senior living, or commercial development.
    • Proximity to Palm Bay Hospital and major retailers (Walmart, Publix, Home Depot, Lowe's).
    • Residential zoning adaptable to various projects; utilities available; city incentives offered.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Palm Bay
    County
    Brevard
    State
    Florida
    Longitude
    -80.6437906
    Latitude
    27.8990653

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    FAQs

    What type of property is this?
    Land - 18 Acres, Prime SE Location, $4.95M
    Where is this land located?
    The property is located at 6950 Babcock St Palm Bay, FL.
    What is the asking price?
    The asking price for this property is $4,950,000.
    What are key features of this property?
    This property features: 18-acre commercial land parcel in Palm Bay, FL, offering 795,841 square feet of unentitled land.; Excellent location on Babcock Street SE, near I-95 interchanges 166 & 173, and planned Babcock Street widening.; Divisible into smaller parcels (4-14 acres), suitable for various uses including multifamily, senior living, or commercial development.
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    6950 Babcock St Palm Bay, FL 32909
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    Palm Bay, FL 32909
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    Realmo Value Estimation

    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.

    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.

    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
    6950 Babcock St Palm Bay, FL 32909
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