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Property profile & analytics
FOR SALE
Office buildings
5240 Babcock St NE Palm Bay, FL 32905
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-4428073
For Sale
1 / 8
Contact for pricing
5240 Babcock St NE, Palm Bay, FL 32905
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
45,982 SF
Lot
3.55 ac (154,638 SF)
Zoning code
CC
APN
28-37-28-75-00000.0-000A.00
UPID
US18-4428073
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
$4.42M
Blend (final)
Blend
$4.78M
Owner & transaction history
5240 Professional Center LLC · 7 yrs held
5240 Professional Center LLC
since 2018
7 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
Retail stores
$7.9M
+13.5%
Medical building
$7.4M
+5.8%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$6,950,000
Current use
RETAIL STORES
$7,890,000
Change: +13% · Conversion: Moderate
MEDICAL BUILDING
$7,360,000
Change: +6% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$6,295,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$4.78M
Range $4.30M – $5.25M · ±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
$104 / 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
$35,776
Tax year 2023
Assessed value
$1,910,860
Assessed 2023
Previous assessed
$1,910,860
+0.0% YoY
Effective rate
1.87%
On assessed value
Assessed land
$714,430
Assessed improvement
$1,196,430
Land market value
$714,430
Improvement market value
$1,196,430
Total market value
$1,910,860
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 (MULTI-STORY)
Status
For Sale
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Stories
3
Units
12
Total area
45,982 SF
Lot
3.55 ac (154,638 SF)
Zoning code
CC
APN
28-37-28-75-00000.0-000A.00
UPID
US18-4428073
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
OFFICE BUILDING Current
Est. value
$7.0M
RETAIL STORES
Est. value
$7.9M
MEDICAL BUILDING
Est. value
$7.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.3M
OFFICE BUILDING Current
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
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
3
Units
12
Lot
3.55 ac
Current owner
From public records · entity-resolved
5240 Professional Center LLC
Entity
Mailing address
626 OLD DIXIE HWY SW, VERO BEACH, FL 32962-4536
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 31, 2023
—
5240 Professional Center LLC
—
Deed
related
$2,000,000 · Standard Insurance Co
Sep 6, 2018
$2,462,500
5240 Professional Center LLC
M & R United INC
Warranty Deed
—
Apr 2, 2013
—
M & R United INC
Palumbo Thomas J Trust
Trustees Deed
related
—
Feb 25, 2010
—
Palumbo Thomas J Trust
Palumbo Thomas J Trust
Quit Claim Deed
related
—
Oct 14, 2005
—
Palumbo Thomas J Trust
Palumbo,thomas J
Quit Claim Deed
related
—
Nov 17, 2004
—
Thomas J Palumbo
Palumbo Thomas J Trust
Quit Claim Deed
related
—
Jun 18, 1999
$3,000,000
Palumbo Trust
Palm Bay Securities INC
Grant Deed
$778,668 · Indian River National Bank
—
—
Palm Bay Securities INC
—
Deed Of Trust
related
$329,825 · Indian River National Bank
—
—
Thomas J Palumbo
—
Deed Of Trust
related
$900,000 · Catherine P Sandifer
—
—
Palumbo Thomas J Trust
—
Deed Of Trust
related
$155,000 · Moore Robert K Trust (tr)
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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