Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Midtown Melbourne Commercial Land Opportunity Title is generated by Realmo AI

    429 & 427 S Babcock Street, Melbourne, FL 32901

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Prime 0.42-acre commercial property in Midtown Melbourne.

    Type:Land
    Lot size:
    0.42 Acres
    Added:
    Mar 17, 2024
    Days on Market:
    806
    Last Refresh:
    May 12 at 9:01 pm

    Property Features for 429 & 427 S Babcock Street

    General Information

    Standard status
    Active
    Lot size
    0.42 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    James Edmunds

    Listing agent James Edmunds

    Listing office ONE Sotheby's International Realty Melbourne Beach

    Listing date Mar 17, 2024

    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 ONE Sotheby's International Realty Melbourne Beach

    HighLights

    • Prime 0.42‑acre C‑2 Commercial property in Midtown Melbourne.
    • Boasts 150 feet of frontage on Babcock St. with high traffic count (21,000 AADT).
    • Centrally located between Eau Gallie and Melbourne Causeways.
    • Located in Melbourne/Space Coast area experiencing unprecedented growth.
    • Area benefits from no state income tax and corporate tax incentives.
    • Three major residential projects planned for Downtown Melbourne.

    Overview

    This 0.42-acre C-2 commercial property is centrally located in Midtown Melbourne, between the Eau Gallie and Melbourne Causeways. The site features 150 feet of frontage on Babcock Street, which experiences a high traffic count of 21,000 AADT. The property is positioned to benefit from the unprecedented growth occurring in Melbourne and Florida's Space Coast, which is attracting an influx of highly skilled, well-paid professionals. Factors driving this growth include the absence of state income tax, corporate tax incentives, major mergers, and a thriving start-up scene. The area's future is further enhanced by three major residential projects planned for Downtown Melbourne. The Space Coast is home to a dynamic and innovative business ecosystem encompassing start-ups, mid-sized enterprises, and industry giants across multiple sectors. Shown by appointment only.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Melbourne
    County
    Brevard
    State
    Florida
    Longitude
    -80.621528
    Latitude
    28.1013765

    Nearby Similar for Sale

    • $998,000
      7,402 SF

      Restaurant Space in Avenue Viera

      Fully built-out restaurant in high-traffic lifestyle center.
      6630 Colonnade Avenue, Melbourne, FL 32940
      View Details
    • $184,990
      3,753 SF

      Established Italian Restaurant Opportunity

      Turn-key Melbourne restaurant with loyal following and strong revenue potential.
      4980 N Wickham Road, Melbourne, FL 32940
      View Details
    • $499,000

      Commercial Building on Highway 1

      1400 sq ft commercial building with highway frontage.
      2814 S Harbor City Boulevard, Melbourne, FL 32901
      View Details
    • $524,900
      1,496 SF

      Updated Medical Office in Melbourne

      Turnkey medical office in a prime downtown location.
      315 E Strawbridge Avenue, Melbourne, FL 32901
      View Details
    • $550,000
      3,266 SF

      Melbourne Religious Facility Investment Opportunity

      Well-maintained 3,266 sq ft property with religious zoning exemption.
      2787 Aurora Road, Melbourne, FL 32935
      View Details
    • $2,095,000
      8,108 SF

      Two Office Buildings on US1

      Two office buildings on US1 in Melbourne, Florida for sale.
      525 N Harbor City Boulevard, Melbourne, FL 32935
      View Details
    • $1,100,000
      1,650 SF

      Versatile Commercial Land in Melbourne

      1.67-acre M1-zoned land suitable for various commercial uses.
      1075 Mcclendon Street, Melbourne, FL 32935
      View Details
    • $2,900,000
      5,400 SF

      Prime Commercial Real Estate Opportunity

      4.64 acres with US 1 frontage and income-producing building.
      5120 N Highway 1, Melbourne, FL 32940
      View Details
    • $475,000
      2,658 SF

      Spacious Duplex in Melbourne, FL

      Full duplex with six bedrooms, four bathrooms, and two garages.
      1778 & 1780 Stewart Place, Melbourne, FL 32935
      View Details
    • $499,000
      1,500 SF

      Highway Frontage Retail Opportunity

      1500 sq ft CBS building with highway frontage.
      2814 S Harbor City Boulevard, Melbourne, FL 32901
      View Details
    • $1,039,800

      Downtown Melbourne Assemblage Opportunity

      Prime downtown Melbourne land assemblage for redevelopment.
      2013 2101 Vernon Place, Melbourne, FL 32901
      View Details
    • $200,000
      3,500 SF

      Established Restaurant in High-Traffic Plaza

      Turn-key restaurant opportunity in Melbourne, Florida with loyal customer base.
      2110 SARNO ROAD, MELBOURNE, FL 32935
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime 0.42-acre commercial property in Midtown Melbourne.
    Where is this commercial land located?
    The property is located at 429 & 427 S Babcock Street Melbourne, FL.
    What is the asking price?
    The asking price for this property is $899,000.
    What are key features of this property?
    This property features: Prime 0.42‑acre C‑2 Commercial property in Midtown Melbourne.; Boasts 150 feet of frontage on Babcock St. with high traffic count (21,000 AADT).; Centrally located between Eau Gallie and Melbourne Causeways.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    James Edmunds
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    429 & 427 S Babcock Street, Melbourne, FL 32901
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!