Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    261 Thor SE Ave Palm Bay, FL 32909-3500
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    261 Thor SE Ave Palm Bay, FL 32909-3500

    View on Map
    • Warehouses
    • 4,170 SF
    • 0.56 lot acres
    Off-Market
    Last Sale Nov 3, 2024
    $700,000
    Property ID
    US18-5077560
    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
    $570,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 261 Thor SE Ave

    Year built
    2002
    Construction
    FRAME
    Lot size
    0.56 lot acres
    Property size
    4,170 SF
    Property type
    Warehouses
    APN
    29-37-03-26-01985.0-0014.00
    APU
    9223372036854775807

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $745,000
      6.5%
      $685,000
      7%
      $640,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $509,000
      Market price range: $361k - $882k
      AI Estimate
      $483,000
      Market price range: $157k - $940k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $520,000
      Current use
      AUTO REPAIR, GARAGE
      $870,000
      Change: +66% Conversion: Easy
      OFFICE BUILDING
      $790,000
      Change: +51% Conversion: Difficult
      RETAIL STORES
      $670,000
      Change: +28% Conversion: Moderate
      MEDICAL BUILDING
      $645,000
      Change: +24% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $575,000
      Change: +10% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Bay
    County
    Brevard
    State
    Florida
    Longitude
    -80.6186
    Latitude
    27.9933
    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
    $4,525
    $30,250
    $214,460
    $244,710
    -
    $30,250
    $214,460
    $244,710

    Comparable in this City

    • Value Estimation
      $6,170,000
      64,316 SF

      1415 Foundation Park SE Blvd

      STORAGE YARD, OPEN STORAGE • 64,316 SF
      1415 Foundation Park SE Blvd, Palm Bay, FL 32909-2104
      View Details
    • Value Estimation
      $1,175,000
      6,480 SF

      6350 Babcock SE St

      MINI-WAREHOUSE, STORAGE • 6,480 SF
      6350 Babcock SE St, Palm Bay, FL 32909-3905
      View Details
    • Value Estimation
      $665,000
      6,282 SF

      1707 Canova SE St

      WAREHOUSE, STORAGE • 6,282 SF
      1707 Canova SE St, Palm Bay, FL 32909-3925
      View Details
    • Value Estimation
      $1,000,000
      8,750 SF

      478 Martin SE Rd, Unit 4

      WAREHOUSE, STORAGE • 8,750 SF
      478 Martin SE Rd, Palm Bay, FL 32909-4034
      View Details
    • Value Estimation by Request
      1,500 SF

      1766 Canova SE St

      WAREHOUSE, STORAGE • 1,500 SF
      1766 Canova SE St, Palm Bay, FL 32909-3915
      View Details
    • Value Estimation
      $670,000
      6,040 SF

      1865 Canova SE St

      STORAGE YARD, OPEN STORAGE • 6,040 SF
      1865 Canova SE St, Palm Bay, FL 32909-3914
      View Details

    Similar Nearby for Sale

    • $47,000
      0.23 Acres

      Residential Land in Palm Bay

      Residential land for new home construction near beaches and amenities.
      3271 Fresno Ave SE, Palm Bay, FL 32909
      View Details
    • $47,000
      0.23 Acres

      Residential Land in Palm Bay

      Residential land for sale in Palm Bay, Florida.
      436 Forbes St SE, Palm Bay, FL 32909
      View Details
    • $55,000
      0.38 Acres

      Vacant Land in Palm Bay

      Residential land for sale in a desirable Palm Bay community.
      466 Sauders Rd SE, Palm Bay, FL 32909
      View Details
    • $60,000
      0.23 Acres

      Vacant Land for Dream Home

      Vacant land to build your dream home with no restrictions.
      2920 Gaffney Ave SE, Palm Bay, FL 32909
      View Details
    • $38,500

      Vacant Lot in Palm Bay

      Prime vacant lot for custom home in desirable Palm Bay.
      2470 San Filippo Dr SE, Palm Bay, FL 32909
      View Details
    • $45,000

      Palm Bay Vacant Lot

      Vacant lot suitable for a single-family home or investment.
      1461 Tidewell St SE, Palm Bay, FL 32909
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Palm Bay Flex Space Available

      Office, work area, and roll-up door near Babcock St.
      1707 Canova St SE, Palm Bay, FL 32909
      View Details
    • $1,050 /Mo
      1,200 SF

      Office/Warehouse Unit For Rent

      1200 SF office/warehouse unit with loading door available for rent.
      360 Thor Ave SE, Palm Bay, FL 32909
      View Details
    • Contact for pricing

      Palm Bay Flex Space Available

      2,000 SF flex space for lease in Palm Bay.
      1798 Agora Cir SE, Palm Bay, FL 32909
      View Details
    • $1,100 /Mo
      2,300 SF

      Retail Space in Palm Bay

      Retail space available for lease in Palm Bay, Florida.
      1707 Canova St Se, Palm Bay, FL 32909
      View Details
    • Contact for pricing

      Retail Space in Palm Bay

      Retail spaces for lease in a high-traffic Palm Bay location.
      3565 Jupiter Blvd SE, Palm Bay, FL 32909
      View Details
    • $3,500 /Mo
      81,022 SF

      New Retail/Office Space Available

      Prime retail/office space in a newly constructed building.
      70 San Filippo Dr SE, Palm Bay, FL 32909
      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.
    261 Thor SE Ave
    Palm Bay, FL 32909-3500
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!