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Property profile & analytics
OFF-MARKET Estimated value $1,605,000
Commercial land

620 Malabar SW Rd Palm Bay, FL 32907

4.19 ac lot
Entity Owned 3-yr Hold Free & Clear
Property ID
US18-6930105
Property summary
AI-generated overview

This exceptional Palm Bay commercial property offers 2,025 square feet of versatile space, ideal for a single tenant. Situated on a 0.24-acre lot, this single-story building (APN: 29-37-06-04-00000.0-0004.Xa) features a thoughtfully designed layout perfect for office use. The current configuration includes a welcoming reception area, a multi-purpose waiting or conference room, a spacious open area, three private offices providing ample privacy, two bathrooms for convenience, and a dedicated break room/lounge for employee relaxation. The flooring is a combination of laminate and carpet. The property benefits from two recently installed air conditioning units, ensuring year-round comfort. Tenants are welcome to make interior modifications at their own expense, subject to owner approval. Ample open parking is available for employees and clients. A comprehensive security system, including monitoring and exterior cameras, provides peace of mind. The lease terms include a minimum two-year commitment with a two-year option. Rent is due on the first of each month, with a five-day grace period and a 10% late fee. Note that the occupant will be responsible for a monthly association fee of $1200. This property presents a fantastic opportunity for businesses seeking a well-maintained and secure space in a desirable Palm Bay location.

Property profile
Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Lot 4.19 ac (182,516 SF)
Zoning code CC
APN 29-36-02-00-00002.0-0000.00
UPID US18-6930105
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
$1.80M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.61M
Owner & transaction history
H&p Corporation Of Melbourne · 3 yrs held
H&p Corporation Of Melbourne
since 2023
Last sale
$1.4M
7 recorded transactions
2023
$1.4M
2020
Price N/A
2020
$1.1M
2005
Price N/A
2005
Price N/A
2005
$550,000
1969
Price N/A
Zoning & alternative use
CC · Palm Bay, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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