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Property profile & analytics
OFF-MARKET
Estimated value
$870,000
Strip malls
2099 Palm Bay NE Rd Palm Bay, FL 32905-2971
Entity Owned
5-yr Hold
Free & Clear
Property ID
US18-4051348
Property summary
AI-generated overview
This thriving smoke shop presents a unique investment opportunity on Palm Bay Road. The property is a single-tenant retail space encompassing 1,260 square feet within a larger 3,780 square foot building. The business boasts impressive inside retail sales averaging approximately $22,000 per month, further supplemented by lottery commission and income from other machines. This established business offers a strong track record and consistent revenue stream. The current monthly rent is $2,500. The asking price includes a $40,000 business goodwill value, reflecting the established clientele and operational success. This turnkey operation is ideal for an investor seeking a profitable, established business with significant earning potential. The property's location on Palm Bay Road ensures high visibility and accessibility to a substantial customer base. The sale includes the existing inventory and fixtures, allowing for a seamless transition for the new owner. This is a rare opportunity to acquire a profitable, established business with a proven history of success in a desirable location. Serious inquiries only. Financial statements are available upon request. This is a fantastic opportunity for a savvy investor looking for a strong return on investment.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,140 SF
Lot
0.46 ac (20,038 SF)
Zoning code
CC
APN
28-37-22-01-00002.0-0002.00
UPID
US18-4051348
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$920k
CAP Approach
CAP
$850k
Comparable Approach
Comparable
$944k
Blend (final)
Blend
$870k
Owner & transaction history
Rp & Lm Enterprises INC · 5 yrs held
Rp & Lm Enterprises INC
since 2021
Last sale
$785,000
4 recorded transactions
Zoning & alternative use
CC · Palm Bay, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this district is to permit the development of commercial activities which offer a wide range of goods and services to the surrounding community primarily located at or near the intersection of arterial roadways.
Zone name
Community Commercial
General category
COMMERCIAL
Zone area
1,035.88 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$980,000
+72.1%
Auto repair, garage
$865,000
+51.4%
Retail stores
$665,000
+16.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Palm Bay submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palm Bay submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$945,000
ML approach
$920,000
CAP Approach
CAP Return
Estimation
6%
$920,000
6.5%
$850,000
7%
$790,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$570,000
Current use
COMMERCIAL (GENERAL)
$980,000
Change: +72% · Conversion: Easy
AUTO REPAIR, GARAGE
$865,000
Change: +51% · Conversion: Difficult
RETAIL STORES
$665,000
Change: +17% · Conversion: Easy
MEDICAL BUILDING
$645,000
Change: +13% · Conversion: Difficult
OFFICE BUILDING
$625,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$870k
Range $783k – $957k · ±10% · vs last sale $785k (Jan 7 2021)
Last sale anchor
$785k
Jan 7 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$210 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$10,778
Tax year 2023
Assessed value
$578,730
Assessed 2023
Previous assessed
$501,710
+15.4% YoY
Effective rate
1.86%
On assessed value
Assessed land
$138,880
Assessed improvement
$439,850
Land market value
$138,880
Improvement market value
$439,850
Total market value
$578,730
Applied tax rate
34.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
3
Total area
4,140 SF
Lot
0.46 ac (20,038 SF)
Zoning code
CC
APN
28-37-22-01-00002.0-0002.00
UPID
US18-4051348
Jurisdiction
BREVARD
Zoning & alternative use
CC · Palm Bay, FLZoning CC · permitted uses
CC · Palm Bay, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of this district is to permit the development of commercial activities which offer a wide range of goods and services to the surrounding community primarily located at or near the intersection of arterial roadways.
Zone name
Community Commercial
General category
COMMERCIAL
Zone area
1,035.88 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$570,000
COMMERCIAL (GENERAL)
Est. value
$980,000
AUTO REPAIR, GARAGE
Est. value
$865,000
RETAIL STORES
Est. value
$665,000
MEDICAL BUILDING
Est. value
$645,000
OFFICE BUILDING
Est. value
$625,000
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
3
Lot
0.46 ac
Current owner
From public records · entity-resolved
Rp & Lm Enterprises INC
Entity
Free & Clear · 5 yrs held
Mailing address
1241 OLDE BAILEY LN, WEST MELBOURNE, FL 32904-8006
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 7, 2021
$785,000
Rp & Lm Enterprises INC
Shalimar Homes INC
Warranty Deed
—
Mar 25, 2014
—
Shalimar Homes INC
Shakir,abdul R & Azizah R
Quit Claim Deed
related
—
—
—
Abdul R Shakir
—
Deed Of Trust
related
$186,000 · Wachovia Bank NA
—
—
Cindy Mckee
—
Deed Of Trust
related
$20,170 · Barnett Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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