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Property profile & analytics
OFF-MARKET
Estimated value
$2,380,000
Office buildings
5151 Babcock NE St Palm Bay, FL 32905-4610
Entity Owned
6-yr Hold
Free & Clear
Property ID
US18-5946774
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2011
Construction
STEEL FRAME
Total area
10,520 SF
Lot
2.99 ac (130,244 SF)
Zoning code
HC
APN
28-37-27-00-00281.0-0000.00
UPID
US18-5946774
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
$2.35M
Comparable Approach
Comparable
$2.39M
Blend (final)
Blend
$2.38M
Owner & transaction history
Florida Health Care Plan INC · 6 yrs held
Florida Health Care Plan INC
since 2019
7 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
Top alternative use upside
Commercial (general)
$3.3M
+104.8%
Auto repair, garage
$2.4M
+47.8%
Retail stores
$1.8M
+13.5%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,545,000
6.5%
$2,350,000
7%
$2,180,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,590,000
Current use
COMMERCIAL (GENERAL)
$3,255,000
Change: +105% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,350,000
Change: +48% · Conversion: Difficult
RETAIL STORES
$1,805,000
Change: +13% · Conversion: Moderate
MEDICAL BUILDING
$1,685,000
Change: +6% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$1,440,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$2.38M
Range $2.14M – $2.62M · ±10%
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
$226 / 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
$31,741
Tax year 2023
Assessed value
$1,693,430
Assessed 2023
Previous assessed
$1,517,610
+11.6% YoY
Effective rate
1.87%
On assessed value
Assessed land
$429,810
Assessed improvement
$1,263,620
Land market value
$429,810
Improvement market value
$1,263,620
Total market value
$1,693,430
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2011
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
10,520 SF
Lot
2.99 ac (130,244 SF)
Zoning code
HC
APN
28-37-27-00-00281.0-0000.00
UPID
US18-5946774
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
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$2.4M
RETAIL STORES
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
2011
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
2.99 ac
Current owner
From public records · entity-resolved
Florida Health Care Plan INC
Entity
Free & Clear · 6 yrs held
Mailing address
1340 RIDGEWOOD AVE, DAYTONA BEACH, FL 32117-2320
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 31, 2019
$1,700,000
Florida Health Care Plan INC
Tke Real Estate Holdings LLC
Grant Deed
—
Jun 14, 2011
—
Tke Real Estate Holdings LLC
—
Trustees Deed
related
$1,000,000 · Bankfirst
Dec 30, 2010
—
Tke Real Estate Holdings LLC
Regions Bk
Quit Claim Deed
related
—
Dec 30, 2010
$299,000
Tke Real Estate Holdings LLC
Regions Bk
Grant Deed
related
—
Mar 7, 2005
—
Regions Bk
Athanasakos,elizabeth
Warranty Deed
related
—
Dec 17, 2004
$825,000
Amsouth Bank
Athanasakos,elizabeth
Warranty Deed
related
—
Oct 19, 2004
$479,400
Donald A Facciobene
Athanasakos,elizabeth
Warranty Deed
—
Oct 19, 2004
$239,700
Donald A Facciobene
Omalley John B Trust
Warranty Deed
$625,000 · Elizabeth Athanasakos
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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