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

    Babcock St And Eldron Blvd Palm Bay, FL 32909

    • Land
    • 12.27 lot acres
    For Sale
    View listing
    $3,375,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Babcock St And Eldron Blvd

    Lot size
    12.27 lot acres
    Property type
    Land

    Description

    This 12.27-acre commercial parcel in Palm Bay, Florida, boasts 785 feet of frontage on Babcock Street and 775 feet on Eldron Boulevard. Zoned CC-Community Commercial, it allows a wide range of uses including retail, service establishments, offices, schools, churches, and restaurants. The property's strategic location is less than two miles from the Micco Road/St. Johns Heritage Park Interchange, placing it within the rapidly expanding Waterstone Cypress Bay development. This 1,200-acre community already features over 2,700 homes under construction or planned, a new Publix supermarket, and future national retailers, ensuring high visibility and strong potential for growth. The upcoming completion of the St. Johns Heritage Parkway will further enhance accessibility and reduce I-95 congestion, providing efficient access for local motorists and serving as an emergency evacuation route. Water is available, with sewer anticipated in the first quarter of 2025. The parcel ID is 29-37-33-KQ-K, and the tax ID is 2951246. This prime location presents a unique opportunity for significant return on investment in a thriving Florida market. The asking price is $3,375,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Palm Bay
    County
    Brevard
    State
    Florida
    Longitude
    -80.6438
    Latitude
    27.8991

    Comparable in this City

    • Value Estimation by Request
      18.00 Acres

      6950 Babcock St

      Land • 18.00 Acres
      6950 Babcock St, Palm Bay, FL 32909
      View Details
    • Value Estimation by Request

      1337 Rabbit St

      Land
      1337 Rabbit St, Palm Bay, FL 32909
      View Details
    • Value Estimation by Request

      1900 Trapp Ave

      Land
      1900 Trapp Ave, Palm Bay, FL 32909
      View Details
    • Value Estimation by Request

      2251 Ramrod Ln

      Land
      2251 Ramrod Ln, Palm Bay, FL 32909
      View Details
    • Value Estimation by Request

      1691 Walker St

      Land
      1691 Walker St, Palm Bay, FL 32909
      View Details
    • Value Estimation by Request

      300 Vanguard St

      Land
      300 Vanguard St, Palm Bay, FL 32909
      View Details

    Similar Nearby for Sale

    • $120,000

      Palm Bay Commercial Land - $120K

      Prime Commercial Lot, City Water Access
      0 861, Palm Bay, FL 32909
      View Details
    • $52,000

      Palm Bay Land: Prime Location

      10,018 sq ft lot, build your dream!
      1571 Painter St, Palm Bay, FL 32909
      View Details
    • $159,000

      Palm Bay Commercial Land

      2.53-acre lot, equestrian community
      8576 Horseshoe Ave, Palm Bay, FL 32909
      View Details
    • $41,000

      Palm Bay Commercial/Residential Land

      10,019 sq ft lot, prime location
      1357 Union St, Palm Bay, FL 32909
      View Details
    • $1,225,000
      4,680 SF

      Palm Bay Commercial Property

      Mixed-use building, prime location
      422 Martin Rd, Palm Bay, FL 32909
      View Details
    • $33,000

      Palm Bay Commercial Land - $33K

      Prime Commercial/Residential Lot, 13,504 sq ft.
      2153 Thames Rd, Palm Bay, FL 32909
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      2,065 SF

      Prime Assisted Living Facility

      Lease this 6-bed ALF in quiet SE location.
      291 Awin Cir, Palm Bay, FL 32909
      View Details
    • $18 SF/Yr
      15,970 SF

      Palm Bay Retail Storefront Opportunity

      1,152 SF Retail Space Available in Palm Bay, FL
      3565 Jupiter Blvd, Palm Bay, FL 32909
      View Details
    • $1,100 /Mo
      900 SF

      Retail Space in Palm Bay

      Retail space available for lease in Palm Bay, Florida.
      1707 Canova St Se, Palm Bay, FL 32909
      View Details
    • $1,050 /Mo
      1,200 SF

      Office/Warehouse Unit For Rent

      1200 SF office/warehouse unit with loading door available for rent.
      360 Thor Ave SE, Palm Bay, FL 32909
      View Details
    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.
    Babcock St And Eldron Blvd
    Palm Bay, FL 32909
    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

    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.