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    Property profile & analytics

    1340 Clearmont St Palm Bay, FL 32905

    • Warehouses
    • 1,430 SF
    • 0.10 lot acres
    For Lease
    View listing
    $12 SF/Yr
    Value Estimations
    $265,000
    Cap Rate Potential
    5.3%
    Warehouses
    Location Intelligence
    Property ID
    US18-5613009
    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

    • Warehouses

    Property Details for 1340 Clearmont St

    Year built
    1985
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.10 lot acres
    Property size
    1,430 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    28-37-22-79-00000.0-000A.25
    APU
    28372279000000000A25

    Description

    This exceptional Palm Bay, Florida industrial property, located at 1340 Clearmont St NE, 32905, offers a total of 12,870 square feet of versatile flex and warehouse space. Currently, all 9 suites totaling 12,870 square feet are available for lease. The single-story building, constructed in 1985, features nine individual units, each a minimum of 1,430 square feet and offering up to 12,870 contiguous square feet. Each unit boasts a modern 5-ton air conditioning system, cooling both the office and warehouse areas. Practical features include a roll-up door at the rear of each unit and ample on-site parking. The property is conveniently situated across from Harris Aerospace, providing excellent access and visibility. The asking rent is $1,500 per month, plus sales tax and separately metered electricity. This property presents a unique opportunity for businesses seeking flexible and well-equipped warehouse or flex space in a prime Palm Bay location. The property's APN is 28 3722-79-*-A.XA. This is a fantastic opportunity for businesses seeking a functional and convenient location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $240,000
      6.5%
      $225,000
      7%
      $205,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $184,000
      Market price range: $131k - $287k
      AI Estimate
      $184,000
      Market price range: $47.7k - $313k

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Bay
    County
    Brevard
    State
    Florida
    Longitude
    -80.606
    Latitude
    28.0306
    CBSA code
    37340
    CBSA name
    PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,296
    $0.00
    $72,960
    $72,960
    -
    $0.00
    $72,960
    $72,960

    Comparable in this City

    • Value Estimation
      $265,000
      1,200 SF

      1300 Clearmont St Ne Ste, Unit 206

      MINI-WAREHOUSE, STORAGE • 1,200 SF
      1300 Clearmont St Ne Ste, Palm Bay, FL 32905-4046
      View Details
    • Value Estimation
      $265,000
      1,430 SF

      1340 Clearmont St Ne Ste, Unit 303

      MINI-WAREHOUSE, STORAGE • 1,430 SF
      1340 Clearmont St Ne Ste, Palm Bay, FL 32905-4049
      View Details
    • Value Estimation
      $265,000
      1,430 SF

      1340 Clearmont St Ne Ste, Unit 307

      MINI-WAREHOUSE, STORAGE • 1,430 SF
      1340 Clearmont St Ne Ste, Palm Bay, FL 32905-4049
      View Details
    • Value Estimation
      $1,140,000
      64,020 SF

      1595 Prt Malabar NE Blvd

      MINI-WAREHOUSE, STORAGE • 64,020 SF
      1595 Prt Malabar NE Blvd, Palm Bay, FL 32905-5437
      View Details
    • Value Estimation by Request
      128,260 SF

      2465 Palm Bay NE Rd

      MINI-WAREHOUSE, STORAGE • 128,260 SF
      2465 Palm Bay NE Rd, Palm Bay, FL 32905-3353
      View Details
    • Value Estimation
      $1,090,000
      54,475 SF

      Palm Bay, FL 32905

      MINI-WAREHOUSE, STORAGE • 54,475 SF
      Palm Bay, FL 32905
      View Details

    Similar Nearby for Sale

    • New
      $249,000
      1,200 SF

      Palm Bay Commercial Flex Space

      Commercial flex space near L3 Harris with owner financing available.
      1320 NE Clearmont St NE, 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
    • $1,459,000
      14.59 Acres

      Palm Bay Industrial Land - 14.59 Acres

      Prime Industrial Land, Palm Bay, FL
      0 Robert J Conlan Blvd, Palm Bay, FL 32905
      View Details
    • New
      $249,000
      1,200 SF

      Palm Bay Commercial Flex Space

      Commercial flex space available in Palm Bay, Florida.
      1320 Clearmont St NE, Palm Bay, FL 32905
      View Details
    • $250,000

      Palm Bay Commercial Land Investment

      Prime 37,897 sq ft Commercial Lot
      1825 Market Cir, Palm Bay, FL 32905
      View Details
    • $35,000

      Palm Bay Commercial Land Investment

      8,276 sq ft Mixed-Use Lot
      0 Noon 4 Ave Ave, Palm Bay, FL 32905
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      800 SF

      Melbourne Warehouse Space For Lease

      800 sq ft Warehouse - Dow Business Park
      4155 Dow Rd, Palm Bay, FL 32905
      View Details
    • $18 SF/Yr
      800 SF

      Palm Bay Warehouse For Lease

      800 sq ft Industrial Space, $750/month
      4155 Dow Rd, Palm Bay, FL 32905
      View Details
    • $10 SF/Yr
      10,996 SF

      Palm Bay Flex Space Available

      Flex space in Palm Bay's industrial center for lease.
      1591 Robert J Conlan Blvd NE, Palm Bay, FL 32905
      View Details
    • $11 SF/Yr
      5,000 SF

      Palm Bay Warehouse Space Available

      5,000 SF warehouse for lease in Palm Bay, FL.
      2640 Kirby Cir NE, Palm Bay, FL 32905
      View Details
    • $10 SF/Yr
      2,228 SF

      Office and Warehouse Flex Space

      Corporate park with office, warehouse, and flex space available.
      1581 Robert J Conlan Blvd NE, Palm Bay, FL 32905
      View Details
    • $8 SF/Yr
      10,500 SF

      Palm Bay Warehouse - 10,500 SF

      Single-tenant warehouse, ideal for industrial users.
      2853 Kirby Cir, Palm Bay, FL 32905
      View Details
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    1340 Clearmont St
    Palm Bay, FL 32905
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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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