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    2705 Eldron SE Blvd Palm Bay, FL 32909-6068
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    Property profile & analytics

    2705 Eldron SE Blvd, Palm Bay, FL 32909-6068

    View on Map
    • Retail space
    • 9,463 SF
    • 4.04 lot acres
    Off-Market
    Last Sale Mar 2, 2021
    $2,571,612
    Property ID
    US18-6552465
    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
    $2,150,000
    Show details
    Cap Rate Potential
    5.1%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 2705 Eldron SE Blvd

    Year built
    2020
    Construction
    STEEL FRAME
    Lot size
    4.04 lot acres
    Zone code
    NC
    Property type
    Retail space
    APN
    29-37-28-GS-0000B.0-0000.00
    APU
    293728GS0000B0000000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 2, 2021 $2,571,612 John Mary Enterprises Ltd Concept Development INC Special Warranty Deed $1.7M · South State Bank National Associati

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,135,000
      ML approach
      $2,275,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,820,000
      6.5%
      $1,680,000
      7%
      $1,560,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,675,000
      Market price range: $843k - $2.44M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,625,000
      Current use
      COMMERCIAL (GENERAL)
      $2,930,000
      Change: +80% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,115,000
      Change: +30% Conversion: Difficult
      OFFICE BUILDING
      $1,895,000
      Change: +17% Conversion: Easy
      MEDICAL BUILDING
      $1,515,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Bay
    County
    Brevard
    State
    Florida
    Longitude
    -80.636
    Latitude
    27.9339
    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
    $19,340
    $352,650
    $650,100
    $1,002,750
    -
    $352,650
    $650,100
    $1,002,750

    Comparable in this City

    • Value Estimation by Request
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    • Value Estimation
      $1,260,000
      8,538 SF

      3400 Bayside Lks SE Blvd

      RETAIL STORES (PERSONAL SERVICES)
      3400 Bayside Lks SE Blvd, Palm Bay, FL 32909-6813
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    • Value Estimation by Request
      1,200 SF

      1712 Canova SE St

      RETAIL STORES (PERSONAL SERVICES)
      1712 Canova SE St, Palm Bay, FL 32909-3975
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    • Value Estimation
      $2,730,000
      16,122 SF

      3495 Bayside Lks SE Blvd

      RETAIL STORES (PERSONAL SERVICES)
      3495 Bayside Lks SE Blvd, Palm Bay, FL 32909-6814
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    • Value Estimation by Request
      2,500 SF

      3370 Bayside Lakes Blvd

      Individual retail properties
      3370 Bayside Lakes Blvd, Palm Bay, FL 32909
      View Details
    • Value Estimation
      $2,080,000
      9,476 SF

      7161 Babcock SE St

      RETAIL STORES (PERSONAL SERVICES)
      7161 Babcock SE St, Palm Bay, FL 32909-5462
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,260 SF

      Retail Outparcel For Sale

      Retail outparcel property for sale with 5.15% CAP.
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      4,400 SF

      Established Car Dealership with Building

      Turnkey car dealership and body shop with building for sale.
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    • $210,000
      2.75 Acres

      Vacant Land in Deed Restricted Community

      Vacant land suitable for building a new home with horses.
      337 Appaloosa St, Palm Bay, FL 32909
      View Details
    • $41,000
      0.23 Acres

      Vacant Land in Palm Bay

      Vacant land suitable for building a new home.
      336 Tobias St SE, Palm Bay, FL 32909
      View Details
    • $53,000
      0.26 Acres

      Residential Land in Palm Bay

      Residential land for sale in Palm Bay, Florida.
      3011 Forghun Ave SE, Palm Bay, FL 32909
      View Details

    Similar Nearby for Lease

    • $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
    • Contact for pricing
      900 SF

      Retail Space in Bay Lakes

      Retail space available in a suburban golf course community.
      3450 Bayside Lake Blvd SE, Palm Bay, FL 32909
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    • 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
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    • Contact for pricing

      Retail Space in Palm Bay

      Retail spaces with ample parking and easy access.
      3565 Jupiter Blvd SE, Palm Bay, FL 32909
      View Details
    • Contact for pricing

      Prime Outparcel in Palm Bay

      Outparcel for ground lease or build-to-suit near Publix.
      Babcock St & Capital Dr SE, Palm Bay, FL 32909
      View Details
    • 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

    Property Visit Statistics

    • Visits by month
      16.0k
    • Visitors by month
      8.3k
    • Avg Time on site
      13 min
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    Palm Bay, FL 32909-6068
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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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