Your AI Navigator in Commercial Real Estate
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
    Back to Search
    Property profile & analytics

    2475 Palm Bay Rd Palm Bay, FL 32905

    • Retail properties
    • 66,922 SF
    • 14.13 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 2475 Palm Bay Rd

    Year built
    1975
    Lot size
    14.13 lot acres
    Property size
    66,922 SF
    Property type
    Retail properties
    Property subtype
    Land

    Description

    This exceptional Brevard County retail property, located at 2475 Palm Bay Road NE, Palm Bay, FL 32905 (Palm Bay Road x Lipscomb Street), offers 66,922 square feet of space in a single building on a 14.13-acre lot. Currently, 20,207 square feet of vacant space is available, divisible into smaller units ranging from approximately 980 to 20,207 square feet. The property, classified as Class B, was built in 1975 and renovated in 2015. Features include abundant parking, elevators, and a shared lobby, break room, and outdoor lounge area. Utilities such as water and common area janitorial services are included in the lease rate. The property is zoned LI and has an APN of 28-37-23-00-00256.0-0000.00. This location in the Space Coast submarket presents a unique opportunity for businesses seeking flexible, modern retail space. The property's size and amenities make it suitable for a variety of retail uses. Interested parties should note that the minimum divisible space is 20,207 square feet, with a maximum contiguous space of the same size. The property is ready for immediate occupancy.

    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
    -80.6025
    Latitude
    28.0354

    Comparable in this City

    • Value Estimation by Request
      7,437 SF

      4620 Lipscomb St

      Office space • 7,437 SF
      4620 Lipscomb St, Palm Bay, FL 32905
      View Details
    • Value Estimation by Request
      3,453 SF

      2138 Washington St

      Retail properties • 3,453 SF
      2138 Washington St, Palm Bay, FL 32905
      View Details
    • Value Estimation by Request

      4700 Babcock St

      Retail properties
      4700 Babcock St, Palm Bay, FL 32905
      View Details
    • Value Estimation by Request

      Noon 4 Ave Ave

      Land
      0 Noon 4 Ave Ave, Palm Bay, FL 32905
      View Details
    • Value Estimation by Request

      2819 Alexander Ave

      Land
      2819 Alexander Ave, Palm Bay, FL 32905
      View Details
    • Value Estimation by Request

      1039 Hooper Ave

      Land
      1039 Hooper Ave, Palm Bay, FL 32905
      View Details

    Similar Nearby for Sale

    • $325,000
      1,870 SF

      Palm Bay Retail Space - $325K

      Vacant 1870 sq ft retail space, Palm Bay, FL
      2179 Julian Ave, Palm Bay, FL 32905
      View Details
    • $2,002,500
      4.45 Acres

      1085 Clearmont St

      Land • 4.45 Acres
      1085 Clearmont St, Palm Bay, FL 32905
      View Details
    • $79,500

      Palm Bay Commercial Land - $79,500

      Prime 10,019 SF Commercial Lot
      1039 Hooper Ave, Palm Bay, FL 32905
      View Details
    • $995,000

      Palm Bay Commercial Land - $995K

      Prime 32,500 SF Commercial Lot
      2134 Palm Bay Rd, Palm Bay, FL 32905
      View Details
    • $259,900

      Palm Bay Hotel Land Investment

      Prime 1.3-acre commercial hotel lot
      5015 Babcock St, Palm Bay, FL 32905
      View Details
    • $3,200,000

      Palm Bay Road Commercial Land

      7+ Acres, High-Traffic Location, Development Opportunity
      1790 Palm Bay Rd, Palm Bay, FL 32905
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      1,215 SF

      Palm Bay Road Retail Space

      Prime Retail Space, High Traffic Area
      2061 Palm Bay Rd, Palm Bay, FL 32905
      View Details
    • $15 SF/Yr
      1,166 SF

      Palm Bay Road Retail Opportunity

      Prime Retail Space, High-Growth Area
      2061 Palm Bay Rd, Palm Bay, FL 32905
      View Details
    • $16 SF/Yr
      7,437 SF

      Woodlake Office Park: Palm Bay, FL

      Prime Office Space, Space Coast, FL
      4620 Lipscomb St, Palm Bay, FL 32905
      View Details
    • Contact for pricing

      Prime Palm Bay Commercial Land

      High-traffic .62-acre lot, ideal for lease.
      1490 Palm Bay Rd, Palm Bay, FL 32905
      View Details
    • Contact for pricing
      2,204 SF

      Retail Space Near L3Harris

      Commercial property for ground lease or build-to-suit near L3Harris.
      2280 Harris Ave NE, Palm Bay, FL 32905
      View Details
    • $15 SF/Yr
      1,750 SF

      Retail Space Near New Apartments

      Retail spaces available near Indian River Flats apartment complex.
      4700 Dixie Hwy NE, Palm Bay, FL 32905
      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.
    2475 Palm Bay Rd
    Palm Bay, FL 32905
    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.