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    General Residential Zoned Land Parcel Title is generated by Realmo AI

    Street, Palm Bay, FL 32909

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    Claim this Listing
    For Sale
    $400,000

    LAND - Palm Bay, FL

    Lot size:
    9.82 Acres
    Added:
    Mar 5, 2026
    Days on Market:
    93
    Last Refresh:
    Jun 6 at 5:06 am

    Property Features for Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    30-37-02-00-00500.0-0000.00
    Lot size
    9.82 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    W 1/4 OF SW 1/4 OF SW 1/4
    Tax Annual Amount
    455

    We can help!

    Listing Contact
    Rhonda Pavone

    Listing agent Rhonda Pavone License #3201909

    Listing office RE/MAX Aerospace Realty 7925 N Wickham Rd. #B, Rockledge, FL

    Listing date Mar 5, 2026

    MLS# 1071113 Listing URL

    Copyright © 2026 Space Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 10‑acre parcel in Palm Bay, located about a half‑mile off the Heritage Park Way exit on I‑95
    • Zoned GU – General Residential Use
    • Currently land‑locked until proposed future development starts on Emerald Lakes
    • Property is positioned near the Emerald Lakes development, planned to include commercial spaces, restaurants, hotels, shopping centers, and residential communities
    • Adjacent and near the newly established Cypress Cove community

    Overview

    This for-sale parcel consists of vacant land totaling 9.82 acres. The property is zoned GU (General Residential Use), offering a planning framework for residential-oriented development. The listing notes that it is currently “land locked” until proposed future development begins.

    The site is located in Palm Bay, Florida, approximately a half-mile off the Heritage Park Way exit from I-95. The remarks indicate the parcel sits within an area expected to benefit from nearby growth, including the Emerald Lakes development and the adjacent Cypress Cove community. The listing also states that Emerald Investment Holdings owns lots on the North, South, and East sides of the property.

    For buyers and developers, the GU zoning and the parcel’s size make it a candidate for residential planning, whether as a standalone site or as part of a broader development approach. Interested parties should factor in the current access limitation referenced in the listing when evaluating timelines and feasibility, particularly for any near-term improvements or construction plans.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Palm Bay
    County
    Brevard
    State
    Florida
    Longitude
    -80.602646
    Latitude
    27.89452

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    FAQs

    What type of property is this?
    Residential land & home lot - Vacant land in Palm Bay zoned GU, suited for future residential planning with access currently limited pending surrounding development.
    Where is this residential land & home lot located?
    The property is located at Street Palm Bay, FL.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: 10‑acre parcel in Palm Bay, located about a half‑mile off the Heritage Park Way exit on I‑95; Zoned GU – General Residential Use; Currently land‑locked until proposed future development starts on Emerald Lakes
    (321) 427-0887
    We can help!
    Listing Contact
    Rhonda Pavone
    Real Estate License ID: 3201909
    Learn More
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    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.

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