Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    722 Spoonbill St Palm Bay, FL 32908

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5538524
    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.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 722 Spoonbill St

    Property type
    Commercial real estate

    Description

    This exceptional .23-acre commercial and residential land parcel, located at 722 Spoonbill Street SW in Palm Bay, Florida, presents a unique investment opportunity. The property boasts a generous 10,019 square feet of buildable land, offering significant potential for various development projects. Its strategic location in the desirable Southwest Palm Bay area provides convenient access to a wealth of amenities, including shopping centers, diverse dining options, and highly-rated schools. The property's proximity to the Indian River and nearby beaches adds to its appeal, offering residents and businesses a desirable lifestyle and recreational opportunities. The asking price for this prime piece of real estate is $29,880. This property is zoned for both commercial and residential use, providing flexibility for a wide range of development possibilities. Given its size, location, and dual zoning, this lot is expected to attract considerable interest and is anticipated to sell quickly. The property's address is verified as 722 Spoonbill Street SW, Palm Bay, FL 32908, with GPS coordinates of 27.92473 latitude and -80.690815 longitude. This is a rare opportunity to acquire a versatile and well-situated property in a thriving Florida community. Don't miss out on this chance to secure a valuable asset in a rapidly growing market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Bay
    County
    Brevard
    State
    Florida
    Longitude
    -80.690815
    Latitude
    27.92473

    Comparable in this City

    • $45,000

      Palm Bay Commercial Land Investment

      10,454 SF Lot, $45,000
      000 Gerry Rd, Palm Bay, FL 32908
      View Details
    • Contact for pricing

      Palm Bay Commercial Land Investment

      10,019 SF lot, recreational use.
      1512 Kerman St, Palm Bay, FL 32908
      View Details
    • $45,000

      Palm Bay Commercial Land - $45K

      10,019 sq ft lot, ideal commercial/residential.
      513 Halifax St, Palm Bay, FL 32908
      View Details
    • $42,500

      Palm Bay Commercial Land

      0.23-acre lot, build your dream.
      1380 Gibbs Rd, Palm Bay, FL 32908
      View Details
    • Contact for pricing

      Palm Bay Commercial Land Investment

      10,890 SF Lot, Prime Location
      2791 Valentine Ave, Palm Bay, FL 32908
      View Details
    • $43,000

      Palm Bay Commercial Land Opportunity

      0.31-acre lot, ideal for mixed-use development.
      2828 Sage Ave, Palm Bay, FL 32908
      View Details

    Similar Nearby for Sale

    • $45,000

      Palm Bay Commercial Land Investment

      10,454 SF Lot, $45,000
      000 Gerry Rd, Palm Bay, FL 32908
      View Details
    • Contact for pricing

      Palm Bay Commercial Land Investment

      10,019 SF lot, recreational use.
      1512 Kerman St, Palm Bay, FL 32908
      View Details
    • $45,000

      Palm Bay Commercial Land - $45K

      10,019 sq ft lot, ideal commercial/residential.
      513 Halifax St, Palm Bay, FL 32908
      View Details
    • $42,500

      Palm Bay Commercial Land

      0.23-acre lot, build your dream.
      1380 Gibbs Rd, Palm Bay, FL 32908
      View Details
    • Contact for pricing

      Palm Bay Commercial Land Investment

      10,890 SF Lot, Prime Location
      2791 Valentine Ave, Palm Bay, FL 32908
      View Details
    • $43,000

      Palm Bay Commercial Land Opportunity

      0.31-acre lot, ideal for mixed-use development.
      2828 Sage Ave, Palm Bay, FL 32908
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5 SF

      Commercially Zoned Land on Malabar

      Commercially zoned land with extensive development possibilities and excellent visibility.
      1843 Malabar Rd, Palm Bay, FL 32908
      View Details
    • Contact for pricing

      Commercially Zoned Land for Lease

      Commercially zoned land with high visibility available for lease.
      1840 Kara Pl, Palm Bay, FL 32908
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    722 Spoonbill St
    Palm Bay, FL 32908
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.