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    Property profile & analytics

    2060 Palm Bay NE Rd Palm Bay, FL 32905-2931

    • Office buildings
    • 4,225 SF
    • 0.51 lot acres
    OFF-MARKET
    Value Estimations
    $660,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-4597306
    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

    • Office buildings

    Property Details for 2060 Palm Bay NE Rd

    Year built
    1979
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.51 lot acres
    Property size
    4,225 SF
    Zone code
    CC
    Property type
    Office buildings
    APN
    28-37-22-00-00756.0-0000.00
    APU
    9223372036854775807

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $692,000
      Market price range: $406k - $961k
      AI Estimate
      $632,000
      Market price range: $309k - $961k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $640,000
      Current use
      AUTO REPAIR, GARAGE
      $945,000
      Change: +48% Conversion: Difficult
      RETAIL STORES
      $725,000
      Change: +13% Conversion: Moderate
      MEDICAL BUILDING
      $675,000
      Change: +6% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $580,000
      Change: -9% Conversion: Difficult
      WAREHOUSE, STORAGE
      $545,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Bay
    County
    Brevard
    State
    Florida
    Longitude
    -80.6123
    Latitude
    28.0346
    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
    $7,553
    $129,420
    $297,130
    $426,550
    -
    $129,420
    $297,130
    $426,550

    Comparable in this City

    • Value Estimation by Request
      330 SF

      2795 Palm Bay NE Rd

      OFFICE BUILDING • 330 SF
      2795 Palm Bay NE Rd, Palm Bay, FL 32905-4215
      View Details
    • Value Estimation
      $2,255,000
      9,987 SF

      1510 Bottlebrush NE Dr

      OFFICE BUILDING • 9,987 SF
      1510 Bottlebrush NE Dr, Palm Bay, FL 32905-3111
      View Details
    • Value Estimation
      $565,000
      3,726 SF

      2191 Julian NE Ave

      OFFICE BUILDING (MULTI-STORY) • 3,726 SF
      2191 Julian NE Ave, Palm Bay, FL 32905-4041
      View Details
    • Value Estimation
      $760,000
      3,500 SF

      1430 Knecht NE Rd

      PROFESSIONAL BUILDING • 3,500 SF
      1430 Knecht NE Rd, Palm Bay, FL 32905-3932
      View Details
    • Value Estimation
      $625,000
      2,970 SF

      4888 Babcock NE St

      OFFICE BUILDING • 2,970 SF
      4888 Babcock NE St, Palm Bay, FL 32905-2810
      View Details
    • Value Estimation
      $1,575,000
      6,968 SF

      4951 Babcock NE St

      OFFICE BUILDING • 6,968 SF
      4951 Babcock NE St, Palm Bay, FL 32905-2821
      View Details

    Similar Nearby for Sale

    • $325,000
      1,870 SF

      Palm Bay Office Building Investment

      1,870 SF Office, Vacant, Seller Financing
      2179 Julian Ave, Palm Bay, FL 32905
      View Details
    • $299,000
      1,870 SF

      Palm Bay Office/Medical Condo

      1,870 SF office/medical condo in northeast Palm Bay, Florida.
      2179 Julian Ave NE, Palm Bay, FL 32905
      View Details
    • $300,000
      1,150 SF

      2115 Palm Bay Rd

      Office properties & Spaces • 1,150 SF
      2115 Palm Bay Rd, Palm Bay, FL 32905
      View Details
    • $395,000
      1,870 SF

      Palm Bay Commercial Opportunity

      Well-maintained commercial space suitable for medical, dental, or professional office.
      2179 Julian Ave NE, Palm Bay, FL 32905
      View Details
    • $2,900,000
      7.10 Acres

      Palm Bay Commercial Land Opportunity

      7+ acres for commercial or mixed-use development in Palm Bay.
      1790 Palm Bay Rd NE, Palm Bay, FL 32905
      View Details
    • $109,900
      0.78 Acres

      Cleared Lot Near Intercoastal

      Cleared 0.78-acre lot near US1 and Intercoastal in Palm Bay.
      2350 Shenandoah Rd NE, Palm Bay, FL 32905
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      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
    • $19 SF/Yr
      396 SF

      Modern Move-In Ready Office Space

      Modern office space with utilities included in Palm Bay.
      2475 Palm Bay Rd NE, Palm Bay, FL 32905
      View Details
    • $9 SF/Yr
      171,000 SF

      Woodlake Commerce Park Office Space

      8,150 SF Office, Flexible Layout
      2330 Commerce Park Dr, Palm Bay, FL 32905
      View Details
    • $1,400 /Mo
      83,635 SF

      Palm Bay Commercial Space Available

      1150 sqft commercial space in high-traffic area.
      2105 Palm Bay Rd NE, Palm Bay, FL 32905
      View Details
    • $21 SF/Yr
      17,760 SF

      Arlington Shopping Plaza: Prime Palm Bay Retail

      Palm Bay retail space, 740 sq ft available.
      2000-2040 Palm Bay Rd, Palm Bay, FL 32905
      View Details
    • $9 SF/Yr

      Office Space in Woodlake Park

      Office space with hard wall offices and conference rooms.
      2330 Commerce Park Dr, Palm Bay, FL 32905
      View Details
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    Palm Bay, FL 32905-2931
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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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