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    00000 Unknown Palm Bay, FL 32976
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    00000 Unknown, Palm Bay, FL 32976

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    Cap Rate Potential
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    Property Details for 00000 Unknown

    Property type
    Specialty properties
    Property subtype
    Land

    Description

    This unique 3,484.8 square foot commercial/recreational land parcel in Micco, Florida presents an exceptional investment opportunity. Located in Brevard County, zip code 32976, this property boasts immediate access to both the Indian River and the Atlantic Ocean, offering unparalleled waterfront living and recreational potential. Electricity is already on-site, simplifying development plans. A pre-existing 25-foot staircase leads to a 14x16 foot deck, providing convenient access to the sandy shoreline. Enjoy the benefits of your own private beach, perfect for securing a boat and enjoying sun-filled days. This property is a separate parcel, independent of any homeowner's association (HOA) and is not part of Snug Harbor Villages, ensuring freedom from HOA regulations and fees. The asking price for this exceptional waterfront property is $150,000. Its prime location and unique features make it an ideal investment for those seeking a private waterfront retreat or a lucrative commercial venture. The coordinates are 27.858918 latitude and -80.5660657 longitude.

    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
    -80.5661
    Latitude
    27.8589

    Comparable in this City

    • Value Estimation by Request
      8,775 SF

      9250 Us Hwy 1st 1

      PROFESSIONAL CLUBS/ASSOCIATIONS
      9250 Us Hwy 1st 1, Micco, FL 32976-2929
      View Details
    • Value Estimation by Request
      1,200 SF

      9770 Primrose Dr

      SHOPPING CENTER COMMON AREA
      9770 Primrose Dr, Micco, FL 32976-3013
      View Details
    • Value Estimation by Request
      2,976 SF

      9330 Us Hwy 1st 1

      PROFESSIONAL CLUBS/ASSOCIATIONS
      9330 Us Hwy 1st 1, Micco, FL 32976-2954
      View Details
    • Value Estimation by Request
      58 SF

      Sebastian, FL 32976

      SHOPPING CENTER COMMON AREA
      Sebastian, FL 32976
      View Details
    • Value Estimation by Request

      335 Loquat Dr

      Land
      335 Loquat Dr, Micco, FL 32976
      View Details
    • Value Estimation by Request

      7656 Hwy

      Land
      7656 Hwy, Micco, FL 32976
      View Details

    Similar Nearby for Sale

    • $710,000
      Pending

      Land For Sale in Micco

      Land available in Brevard County, Florida.
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    • $61,000
      0.33 Acres

      Micco, FL Building Lot

      High and dry lot near Sebastian, with city water.
      3947 12Th St, Micco, FL 32976
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    • $75,000

      Micco Land: Prime Commercial/Residential Lot

      .42-acre lot, ideal for home or business.
      0 10Th St, Micco, FL 32976
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    • Contact for pricing

      Vacant Lot in Barefoot Bay

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    • $69,000

      Micco Commercial Land - $69K

      Prime .32-acre lot, ideal for mixed-use.
      0 10Th St, Micco, FL 32976
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    • $59,000
      0.25 Acres

      Micco, FL Quarter Acre Land

      Quarter acre building site near Sebastian Inlet, no HOA.
      3892 14Th St, Micco, FL 32976
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,500 SF

      Barefoot Bay Medical/Office Space

      Move-in ready office space in Barefoot Bay Medical Park.
      8000 Ron Beatty Blvd, Sebastian, FL 32976
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    • Contact for pricing
      19,768 SF

      Retail Space in Grocery-Anchored Center

      Available retail space in Sebastian, FL, Q4 2025 delivery.
      7960 Us Highway 1, Sebastian, FL 32976
      View Details
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    00000 Unknown
    Palm Bay, FL 32976
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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.

    More about this property
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