1945 Palm Bay NE Rd Palm Bay, FL 32905-2926
Property profile & analytics
1945 Palm Bay NE Rd, Palm Bay, FL 32905-2926
- Office buildings
- 12,190 SF
- 2.69 lot acres
Property ID
US18-5915741
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.
Location Intelligence
Current Use by Public Records
- Office buildings
Property Details for 1945 Palm Bay NE Rd
- Year built
- 1984
- Construction
- WOOD
- Lot size
- 2.69 lot acres
- Zone code
- CC
- Property type
- Office buildings
- APN
- 28-37-22-00-00274.0-0000.00
- APU
- 9223372036854775807
Description
This exceptional value-add investment opportunity presents two vacant commercial buildings totaling 21,720 square feet situated on a 2.69-acre lot in Palm Bay, Florida. Built in 1984 and 1985, the property boasts a prime location with 150 feet of frontage on Palm Bay Road and 500 feet of depth, offering excellent visibility and accessibility. The property features 75 striped parking spaces with potential for expansion, a two-sided lighted sign, and convenient access via Palm Bay Road and Pinewood Drive. City of Palm Bay utilities are in place. The property is zoned CC and is ideally positioned amidst a thriving mix of office, retail, restaurant, and residential uses, just minutes from major employers like L3Harris Corp., DRS, and Intersil. A 7-Eleven convenience store is located at the southwest corner, further enhancing the property's strategic location. The half-acre on-site retention area adds to the property's functionality. This property presents a unique chance to acquire a substantial commercial asset with significant upside potential. The asking price is $2,400,000, translating to $110.50 per square foot. The property's APN is 28-37-22-00-274.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,100,000
- ML approach
- $2,100,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,950,000
- 6.5%
- $2,720,000
- 7%
- $2,530,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,652,000
- AI Estimate
- $2,421,000
Market price range: $1.17M - $2.77MMarket price range: $892k - $2.77M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $1,845,000 Current use
- COMMERCIAL (GENERAL)
- $2,890,000 Change: +57% Conversion: Easy
- AUTO REPAIR, GARAGE
- $2,540,000 Change: +38% Conversion: Difficult
- RETAIL STORES
- $1,960,000 Change: +6% Conversion: Moderate
- MEDICAL BUILDING
- $1,890,000 Change: +3% Conversion: Easy
- NEIGHBORHOOD: SHOPPING CENTER
- $1,680,000 Change: -9% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Palm Bay
- County
- Brevard
- State
- Florida
- Longitude
- -80.614
- Latitude
- 28.0361
- 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
$30,897
$540,540
$1,093,950
$1,634,490
-
$540,540
$1,093,950
$1,634,490
