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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1041 Johnston Rd SE Palm Bay, FL 32909

    • Commercial real estate
    For Sale
    View listing
    $45,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-2875431
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1041 Johnston Rd SE

    Property type
    Commercial real estate

    Description

    This exceptional 15,246 square foot lot presents a unique opportunity for both commercial and residential development. Located at 1041 Johnston Road SE in Palm Bay, Florida, zip code 32909, this property boasts a prime location within Brevard County. Its versatile zoning allows for a variety of uses, making it ideal for those seeking to build a dream home or develop a commercial venture. The expansive lot size provides ample space for construction and landscaping, offering significant potential for return on investment. Situated at latitude 27.972933 and longitude -80.647316, this property offers easy access to local amenities and transportation routes. The asking price is $45,000. This is a rare opportunity to acquire a substantial parcel of land in a desirable Florida location, perfect for those seeking to build a new home or create a thriving commercial enterprise. The property is zoned for both commercial and residential use, providing flexibility for a wide range of development possibilities. Numerous floor plans are available for those interested in residential construction. Don't miss this chance to secure this valuable piece of real estate in the thriving Palm Bay market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Palm Bay
    County
    Brevard
    State
    Florida
    Longitude
    -80.647316
    Latitude
    27.972933

    Comparable in this City

    • $64,799

      Palm Bay Commercial Land Investment

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      3057 Tropical Cir, Palm Bay, FL 32909
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    • $85,000

      Palm Bay Commercial Land Opportunity

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    • $79,000

      Palm Bay Commercial Land - $79K

      Buildable 0.4-acre lot, prime location.
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    • $85,000

      Palm Bay Commercial Land - $85k

      Prime .46-acre lot, ideal for residential or commercial development.
      3238 Aspen Rd, Palm Bay, FL 32909
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    • $74,900

      Palm Bay Commercial/Residential Land

      10,019 SF lot, city water, driveway.
      3630 Jupiter Blvd, Palm Bay, FL 32909
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    • $75,000

      Palm Bay Commercial Land Investment

      10,890 SF lot, city water, canal views.
      246 Brantley St, Palm Bay, FL 32909
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    Similar Nearby for Sale

    • $64,799

      Palm Bay Commercial Land Investment

      21,344 SF Commercial/Residential Lot
      3057 Tropical Cir, Palm Bay, FL 32909
      View Details
    • $85,000

      Palm Bay Commercial Land Opportunity

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      799 Empress St, Palm Bay, FL 32909
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    • $79,000

      Palm Bay Commercial Land - $79K

      Buildable 0.4-acre lot, prime location.
      2961 Palisades Dr, Palm Bay, FL 32909
      View Details
    • $85,000

      Palm Bay Commercial Land - $85k

      Prime .46-acre lot, ideal for residential or commercial development.
      3238 Aspen Rd, Palm Bay, FL 32909
      View Details
    • $74,900

      Palm Bay Commercial/Residential Land

      10,019 SF lot, city water, driveway.
      3630 Jupiter Blvd, Palm Bay, FL 32909
      View Details
    • $75,000

      Palm Bay Commercial Land Investment

      10,890 SF lot, city water, canal views.
      246 Brantley St, Palm Bay, FL 32909
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
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      Palm Bay Retail Storefront Opportunity

      1,152 SF Retail Space Available in Palm Bay, FL
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    • $20 SF/Yr
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      Prime Assisted Living Facility

      Lease this 6-bed ALF in quiet SE location.
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    • $1,100 /Mo
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      Retail Space in Palm Bay

      Retail space available for lease in Palm Bay, Florida.
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    • $1,050 /Mo
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      Office/Warehouse Unit For Rent

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    1041 Johnston Rd SE
    Palm Bay, FL 32909
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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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