Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1639 Olympia Ave SW Palm Bay, FL 32908
    Back to Search
    Property profile & analytics

    1639 Olympia Ave SW Palm Bay, FL 32908

    View on Map
    • Residential land & home lots
    Off-Market
    Property ID
    US18-4173673
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential land & home lots

    Property Details for 1639 Olympia Ave SW

    Property type
    Residential land & home lots

    Description

    Create your perfect home on this lot! The location couldn't be better, with new construction nearby and newly paved roads enhancing property values. Conveniently located just minutes from schools, dining, and shopping, and only 25 minutes from beautiful beaches and river access. With the area expanding quickly, now is the perfect time to invest!

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Bay
    County
    Brevard
    State
    Florida
    Longitude
    -80.6805446
    Latitude
    27.9571245

    Comparable in this City

    • $47,000
      0.23 Acres

      Vacant Land in Palm Bay

      Vacant land in a desirable area, owner financing available.
      2864 Sage Ave SW, Palm Bay, FL 32908
      View Details
    • $47,900
      0.36 Acres

      Corner Lot in Growing Community

      Over 1/4 acre corner lot in a desirable Palm Bay location.
      Tbd, Palm Bay, FL 32908
      View Details
    • $47,000
      0.23 Acres

      Residential Land in Palm Bay

      Vacant land in Port Malabar area, Palm Bay, Florida.
      2835 Anjar Ave SW, Palm Bay, FL 32908
      View Details
    • $47,000
      0.23 Acres

      Residential Land in Palm Bay

      Vacant land in a growing area, owner financing available.
      684 Sunshine St SW, Palm Bay, FL 32908
      View Details
    • $47,000
      0.23 Acres

      Residential Land in Palm Bay

      Residential land for sale in Palm Bay, Florida.
      610 Windy Cove St SW, Palm Bay, FL 32908
      View Details
    • $47,000
      0.23 Acres

      Residential Land in Palm Bay

      Residential land for sale in Palm Bay, Florida.
      2886 Basil Ave SW, Palm Bay, FL 32908
      View Details

    Similar Nearby for Sale

    • $47,000
      0.23 Acres

      Residential Land in Palm Bay

      Vacant land in a desirable area, great for building.
      699 Sunshine St SW, Palm Bay, FL 32908
      View Details
    • $47,000
      0.23 Acres

      Residential Land in Palm Bay

      Vacant land in a growing area, owner financing available.
      1906 New York Ave SW, Palm Bay, FL 32908
      View Details
    • $47,900
      0.36 Acres

      Palm Bay Vacant Corner Lot

      Corner lot in a growing community, ideal for building a home.
      Tbd, Palm Bay, FL 32908
      View Details
    • $47,000
      0.23 Acres

      Residential Land in Palm Bay

      Residential land available in Palm Bay, Florida for new home.
      3165 Frantz Ave SW, Palm Bay, FL 32908
      View Details
    • $47,000
      0.23 Acres

      Residential Land in Palm Bay

      Land for residential development in Palm Bay, Florida.
      2751 Leyton Ave SW, Palm Bay, FL 32908
      View Details
    • $47,000
      0.23 Acres

      Vacant Land in Palm Bay

      Vacant land in Port Malabar area, owner financing available.
      854 Bitlis St SW, 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.
    1639 Olympia Ave SW
    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

    Thank You for Inquiry
    1639 Olympia Ave SW, Palm Bay, FL, 32908
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!