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

    1024 Fame St Palm Bay, FL 32908

    • Land
    For Sale
    View listing
    $19,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 1024 Fame St

    Property type
    Land

    Description

    This exceptional 10,019 square foot commercial land parcel presents a remarkable investment opportunity in the thriving Southwest Palm Bay, Florida area. Located at 1024 Fame Street SW, this vacant lot offers significant potential for a variety of commercial ventures. The property's size provides ample space for development, allowing for flexibility in design and construction plans. Situated in Brevard County, Florida, with a zip code of 32908, this location benefits from convenient access to major roadways and established infrastructure. The asking price for this prime commercial land is $19,900, making it an attractive proposition for developers and investors seeking a strategic foothold in a growing market. The property's coordinates are 27.945584 latitude and -80.701084 longitude. This 0.23-acre lot is ready for immediate development, offering a blank canvas for your vision. Don't miss this chance to acquire a valuable piece of commercial real estate in a dynamic and expanding area of Florida. The property is classified as commercial land and is zoned for commercial use. Serious inquiries are encouraged to explore the possibilities this exceptional property offers. Act quickly, as opportunities like this are rare.

    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
    -80.7011
    Latitude
    27.9456

    Comparable in this City

    • Value Estimation by Request

      322 Scodella St

      Land
      322 Scodella St, Palm Bay, FL 32908
      View Details
    • Value Estimation by Request

      3101 Metcalf Cor St. Andre Ave

      Land
      3101 Metcalf Cor St. Andre Ave, Palm Bay, FL 32908
      View Details
    • Value Estimation by Request

      579 Fountain St

      Land
      579 Fountain St, Palm Bay, FL 32908
      View Details
    • Value Estimation by Request

      1639 Olympia Ave

      Land
      1639 Olympia Ave, Palm Bay, FL 32908
      View Details
    • Value Estimation by Request

      1383 Machado St

      Land
      1383 Machado St, Palm Bay, FL 32908
      View Details
    • Value Estimation by Request

      1573 Fogarty St

      Land
      1573 Fogarty St, Palm Bay, FL 32908
      View Details

    Similar Nearby for Sale

    • $39,900

      Palm Bay Commercial Land Opportunity

      10,019 SF Lot, $39,900
      2245 Utopia Ave, Palm Bay, FL 32908
      View Details
    • $47,000

      Palm Bay Commercial Land Opportunity

      10,019 SF Cleared Commercial Lot
      521 Wicker Rd, Palm Bay, FL 32908
      View Details
    • $60,000

      Palm Bay Land: Build Your Dream

      Prime Commercial/Residential Lot, 10,019 sq ft.
      125 Fayetteville St, Palm Bay, FL 32908
      View Details
    • $42,000

      Lakeland Avenue Commercial Land

      Palm Bay, FL: 10,019 sq ft wooded lot.
      2888 Lakeland Ave, Palm Bay, FL 32908
      View Details
    • $43,000

      Palm Bay Commercial Land Investment

      10,019 sq ft lot, prime location
      579 Fountain St, Palm Bay, FL 32908
      View Details
    • $45,000

      Palm Bay Commercial Land - $45K

      Prime 11,761 sq ft commercial lot, ideal for builders.
      195 Unknown Rd, Palm Bay, FL 32908
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercially Zoned Land for Lease

      Commercially zoned land with high visibility available for lease.
      1840 Kara Pl, Palm Bay, FL 32908
      View Details
    • Contact for pricing
      5 SF

      Commercially Zoned Land on Malabar

      Commercially zoned land with extensive development possibilities and excellent visibility.
      1843 Malabar Rd, Palm Bay, FL 32908
      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.
    1024 Fame St
    Palm Bay, FL 32908
    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.