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

    1299 Packer Rd SE Palm Bay, FL 32909

    • Commercial real estate
    For Sale
    View listing
    $65,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-3341260
    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 1299 Packer Rd SE

    Property type
    Commercial real estate

    Description

    This exceptional 10,019 square foot commercial lot is situated at 1299 Packer Road SE in the desirable Southeast Palm Bay, Florida (32909). Its prime location offers unparalleled convenience, with easy access to a wealth of amenities, shopping centers, and schools. A key advantage is the availability of city water, eliminating the need for well installation and ensuring a reliable water supply. This presents a fantastic opportunity for developers or businesses seeking a strategically located parcel in a thriving area. The asking price for this property is $60,000. Owner financing is available, but only for full-price offers submitted with the required addendum included in the provided documentation. This addendum outlines the specific terms of the owner financing option. Detailed information regarding the owner financing terms can be found on the associated website. This is a rare opportunity to acquire a city water lot in a sought-after area of Palm Bay. Don't miss out on this chance to secure a valuable piece of commercial real estate. Serious inquiries only.

    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
    -80.638237
    Latitude
    27.965922

    Comparable in this City

    • $120,000

      Palm Bay Commercial Land - $120K

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

      Palm Bay Land: Prime Location

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

      Palm Bay Commercial Land

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

      Palm Bay Commercial/Residential Land

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

      Palm Bay Commercial Property

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

    • $18 SF/Yr
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      Palm Bay Retail Storefront Opportunity

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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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    • $1,050 /Mo
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      Office/Warehouse Unit For Rent

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    1299 Packer 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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