Retail Building on Babcock
5015a Babcock Street NE, Palm Bay, FL 32905
6,100 SF retail building with highway commercial zoning.
Type:Retail
Property size:
6,100 SFLot size:
0.95 AcresPrice / SF:
$204/SF- Added:
- Jun 1, 2023
- Days on Market:
- 1096
- Last Refresh:
- May 12 at 11:30 pm
Property Features for 5015a Babcock Street NE
General Information
- Standard status
- Active
- Size
- 6,100 SF
- Lot size
- 0.95 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 1990
Listing agent Bill Sims
Listing office East Coast Properties Of Brevard Inc
Listing date Jun 1, 2023
Source Crexi
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 East Coast Properties Of Brevard Inc
HighLights
- High Traffic Location: Over 34,000 Average Daily Traffic (ADT) on Babcock Street.
- Highway Commercial Zoning: HC zoning allows for a variety of uses.
- Ample Parking: 51 parking spaces available.
- Large Retail Building: 6,100± square foot building suitable for entertainment or other retail purposes.
- Excellent Access: Full access to Babcock Street via median cut.
- Large Lot Size: .95± acre rectangular site with frontage on Babcock Street.
Overview
The property features a 6,100± square foot retail building, designed as an entertainment venue. The building includes two large rooms, an office, a sales counter area, a snack bar, two restrooms, and a maintenance room. An indoor fire sprinkler system is installed. The rectangular site encompasses approximately 0.95± acres, with 150 feet of frontage on Babcock Street and a depth of 280 feet. Traffic count in 2018 was 34,000+ ADT. The property benefits from full access to Babcock Street via a median cut, and includes 51 parking spaces. It also features a storm water retention system and an eight-inch water line. The site is mostly cleared, filled, and above street grade. Zoned HC: Highway Commercial, the building configuration can accommodate a variety of uses.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $109.8k | $18.00 |
| − Vacancy | −$9.3k | −$1.53 |
| EGI | $100.5k | $16.47 |
| − OpEx | −$30.1k | −$4.94 |
| NOI | $70.3k | $11.53 |
6,100 SF · lease $18.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.00M
$879.1K – $1.17M
NOI $70,327 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,655 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Palm Bay
- County
- Brevard
- State
- Florida
- Longitude
- -80.6045
- Latitude
- 28.0264
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - 6,100 SF retail building with highway commercial zoning.
Where is this retail space located?
The property is located at 5015a Babcock Street NE Palm Bay, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: High Traffic Location: Over 34,000 Average Daily Traffic (ADT) on Babcock Street.; Highway Commercial Zoning: HC zoning allows for a variety of uses.; Ample Parking: 51 parking spaces available.
