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Property profile & analytics
OFF-MARKET
Shopping centers
2898 Palm Bay NE Rd Palm Bay, FL 32905
Entity Owned
16-yr Hold
Free & Clear
Property ID
US18-6043629
Property profile
Verified
Property type
Shopping centers
Use group
SHOPPING CENTER COMMON AREA
Year built
1961
Total area
394 SF
Lot
0.21 ac (9,148 SF)
Zoning code
HC
APN
28-37-24-25-00018.0-0001.00
UPID
US18-6043629
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
City Of Palm Bay · 16 yrs held
City Of Palm Bay
since 2010
4 recorded transactions
Zoning & alternative use
HC · Palm Bay, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this district is to permit highway oriented businesses and regional scale facilities located along or near the intersection of major arterials and transportation nodes.
Zone name
Highway Commercial
General category
COMMERCIAL
Zone area
247.17 ac
Source
Realmo
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
Assessed value
$47,030
Assessed 2023
Previous assessed
$48,880
-3.8% YoY
Assessed land
$34,650
Assessed improvement
$12,380
Land market value
$34,650
Improvement market value
$12,380
Total market value
$47,030
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
Shopping centers
Use group
SHOPPING CENTER COMMON AREA
Status
Off-Market
Year built
1961
Heating
NONE
Cooling
YES
Stories
1
Units
1
Total area
394 SF
Lot
0.21 ac (9,148 SF)
Zoning code
HC
APN
28-37-24-25-00018.0-0001.00
UPID
US18-6043629
Jurisdiction
BREVARD
Zoning & alternative use
HC · Palm Bay, FLZoning HC · permitted uses
HC · 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 highway oriented businesses and regional scale facilities located along or near the intersection of major arterials and transportation nodes.
Zone name
Highway Commercial
General category
COMMERCIAL
Zone area
247.17 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1961
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
City Of Palm Bay
Entity
Free & Clear · 16 yrs held
Mailing address
120 MALABAR RD SE, PALM BAY, FL 32907-3009
Ownership since
2010
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
Apr 28, 2010
—
City Of Palm Bay
Powell,frank C III
Warranty Deed
—
Dec 10, 2009
—
Bayfront Cmnty Redev District
City Of Palm Bay
Quit Claim Deed
related
—
Nov 24, 2004
—
Frank C Powell III
Shave,w L JR
Grant Deed
related
—
Aug 17, 2004
—
Frank C Powell III
Shave,w L JR
Grant Deed
related
—
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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