Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    824 Olivia St Palm Bay, FL 32908

    Sponsored
    For Sale
    $34,800

    Prime 10,018 sq ft lot, ideal for development.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    410
    This exceptional 10,018.8 square foot commercial lot presents a remarkable development opportunity in the desirable Palm Bay, Florida area. Located at 824 Olivia Street, zip code 32908, this property boasts an excellent location close to Bayside Shops, ensuring high visibility and convenient access. The lot is ready for immediate development, presenting a chance to capitalize on the current market conditions before prices continue to rise. The surrounding neighborhood features established homes, creating a desirable and stable environment for any new construction. This property is zoned for commercial use (specific zoning details should be independently verified). The asking price for this prime piece of land is $34,800. Its size and location make it perfect for a variety of commercial ventures, offering significant potential for return on investment. Buyers are encouraged to conduct their own due diligence to confirm all aspects of the property and its suitability for their intended use. Don't miss this chance to secure a valuable asset in a thriving Florida community. Act quickly to take advantage of this exceptional opportunity.

    Property Features for 824 Olivia St

    General Information

    Property type
    Land

    We can help!

    Listing Contact
    Victor Punales

    Learn more

    Property Insight Report

    HighLights

    • $34,800 asking price for this commercial land parcel.
    • 10,018.8 square foot lot.
    • Located at 824 Olivia Street, Palm Bay, FL 32908.
    • Excellent development opportunity near Bayside Shops.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Building Supply Auto Repair Shop Clothing Store Gym & Fitness Hotel & Motel Kitchen & Bath Barber Shop Travel Agency Nursing Home

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Bay
    County
    Brevard
    State
    Florida
    Longitude
    -80.693608
    Latitude
    27.934917

    Nearby Similar for Sale

    • $395,000
      1,870 SF

      Palm Bay Commercial Opportunity

      Well-maintained commercial space suitable for medical or professional office.
      2179 Julian Ave NE, Palm Bay, FL 32905
      View Details
    • $627,000
      3,472 SF

      New Duplex in Palm Bay

      Move-in ready duplex featuring luxury finishes and spacious layouts.
      1660 Lizette St SE, Palm Bay, FL 32909
      View Details
    • $1,249,982
      3,376 SF

      Turn-Key Restaurant with River Views

      Fully equipped restaurant on 1.03 acres with Indian River views.
      4720 Dixie Hwy NE, Palm Bay, FL 32905
      View Details
    • $627,000
      3,472 SF

      New Modern Duplex in Palm Bay

      Under construction duplex with luxury finishes, ideal for investors.
      1659 Javier St SE, Palm Bay, FL 32909
      View Details
    • $627,000
      3,472 SF

      Modern Duplex in Palm Bay

      Contemporary duplex with luxury finishes, ideal for investors or families.
      1659 Javier St SE, Palm Bay, FL 32909
      View Details
    • $627,000
      3,472 SF

      Palm Bay Duplex with Garages

      Modern duplex in Palm Bay ideal for investors or families.
      2542 Hester Ave SE, Palm Bay, FL 32909
      View Details
    • $450,000
      2,412 SF

      Palm Bay Duplex Opportunity

      Income-producing duplex in Palm Bay with tenant in place.
      1667 Desco St, Palm Bay, FL 32909
      View Details
    • $30,000
      500 SF

      Established Floral Business Opportunity

      Turnkey floral business for sale in prime Palm Bay location.
      4690 Lipscomb St NE, Palm Bay, FL 32905
      View Details
    • $249,000
      1,200 SF

      Palm Bay Commercial Flex Space

      Commercial flex space near L3 Harris with owner financing available.
      1320 NE Clearmont St NE, Palm Bay, FL 32905
      View Details
    • $249,000
      1,200 SF

      Palm Bay Commercial Flex Space

      Commercial flex space available in Palm Bay, Florida.
      1320 Clearmont St NE, Palm Bay, FL 32905
      View Details
    • $448,000
      2,196 SF

      Palm Bay Office with Expansion Potential

      Office property in Palm Bay with room for expansion and storage.
      1853 Canova St SE, Palm Bay, FL 32909
      View Details
    • $315,000
      0.24 Acres

      New Construction Home in Palm Bay

      Modern, practical new construction home with open floor plan.
      1421 Towton St SE, Palm Bay, FL 32909
      View Details

    FAQs

    What type of property is this?
    Land - Prime 10,018 sq ft lot, ideal for development.
    Where is this land located?
    The property is located at 824 Olivia St Palm Bay, FL.
    What is the asking price?
    The asking price for this property is $34,800.
    What are key features of this property?
    This property features: $34,800 asking price for this commercial land parcel.; 10,018.8 square foot lot.; Located at 824 Olivia Street, Palm Bay, FL 32908.
    Request Owner's contact information
    824 Olivia St Palm Bay, FL 32908
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    824 Olivia St
    Palm Bay, FL 32908
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    824 Olivia St Palm Bay, FL 32908
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Victor Punales
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.