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    880 Malabar SE Rd Palm Bay, FL 32907-3207
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    Property profile & analytics

    880 Malabar SE Rd, Palm Bay, FL 32907-3207

    View on Map
    • Grocery and convenience stores
    • 4,970 SF
    • 1.49 lot acres
    Off-Market
    Last Sale May 19, 2023
    Property ID
    US18-4933970
    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.
    Value Estimations
    $760,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 880 Malabar SE Rd

    Year built
    2015
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.49 lot acres
    Zone code
    RC
    Property type
    Grocery and convenience stores
    APN
    29-37-05-GJ-00305.0-0009.00
    APU
    293705GJ003050000900

    Description

    This exceptional 823,719.6 square foot commercial land parcel presents a unique investment opportunity in the desirable Malabar, Florida area. Located at 0000 W Of 880 Malabar Road, zip code 32950, this expansive property offers nearly 20 acres of buildable land, providing ample space for a wide range of commercial ventures. The property is zoned for commercial use (specific zoning details should be independently verified). Built in 1963, the existing structure on the property requires demolition, presenting a blank canvas for a new development. The single-story building currently on site is not suitable for continued use. Buyers should conduct their own due diligence regarding zoning regulations and permitted uses. The location offers convenient access to local amenities, including shopping and dining options, while still maintaining a connection to the charming community of Malabar. This substantial acreage is perfect for developers seeking a large-scale project, offering the potential for a variety of uses, from custom homes to commercial developments or even specialized facilities. The property's size and location make it a highly attractive investment opportunity in a growing Florida market. The asking price is $1,300,000. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $485,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,038,000
      Market price range: $486k - $1.47M

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

    Location Insight

    • Map
    • Local Demand
    City
    Palm Bay
    County
    Brevard
    State
    Florida
    Longitude
    -80.648
    Latitude
    27.9983
    CBSA code
    37340
    CBSA name
    PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $31,606
    $453,250
    $1,043,900
    $1,497,150
    -
    $453,250
    $1,043,900
    $1,497,150

    Comparable in this City

    • Value Estimation
      $6,245,000
      55,910 SF

      1110 Malabar SE Rd

      GROCERY, SUPERMARKET
      1110 Malabar SE Rd, Palm Bay, FL 32907-3253
      View Details
    • Value Estimation
      $525,000
      2,992 SF

      1185 Malabar NE Rd

      CONVENIENCE STORE (W/FUEL PUMP)
      1185 Malabar NE Rd, Palm Bay, FL 32907-3257
      View Details
    • Value Estimation
      $1,505,000
      3,912 SF

      1090 Malabar SE Rd

      CONVENIENCE STORE (W/FUEL PUMP)
      1090 Malabar SE Rd, Palm Bay, FL 32907-3251
      View Details
    • Value Estimation
      $800,000
      4,582 SF

      1180 Malabar SE Rd

      CONVENIENCE STORE (W/FUEL PUMP)
      1180 Malabar SE Rd, Palm Bay, FL 32907-3256
      View Details
    • Value Estimation
      $825,000
      5,992 SF

      5995 Babcock NE St

      CONVENIENCE STORE (W/FUEL PUMP)
      5995 Babcock NE St, Palm Bay, FL 32907-2428
      View Details
    • Value Estimation
      $790,000
      5,436 SF

      900 Malabar SW Rd

      CONVENIENCE STORE (W/FUEL PUMP)
      900 Malabar SW Rd, Palm Bay, FL 32907-6800
      View Details

    Similar Nearby for Sale

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      Residential Lot in Palm Bay

      Residential lot suitable for building or investment in Palm Bay.
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      Vacant Land in Palm Bay

      4.63 acres of vacant land, ideal for building.
      Vars St NW, Palm Bay, FL 32907
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Parcels Near Publix Center

      Retail development parcels with high visibility and access.
      St Johns Heritage Pkwy & Malabar Rd NW, Palm Bay, FL 32907
      View Details
    • Contact for pricing
      4,389 SF

      Retail Space in Palm Bay

      Retail space available at busy intersection in Palm Bay, FL.
      142 Malabar Rd Sw, Palm Bay, FL 32907
      View Details
    • $5,246 /Mo
      18,505 SF

      Palm Bay Professional Office Space

      First-floor office with reception, offices, bullpen, and conference room.
      490 Centre Lake Dr NE, Palm Bay, FL 32907
      View Details
    • Contact for pricing

      Palm Bay Office Space Available

      Office space available for rent in Palm Bay, Florida.
      6100 Minton Rd, Palm Bay, FL 32907
      View Details
    • Contact for pricing
      4,557 SF

      Palm Bay Office Space Available

      Office space with high traffic location and ample parking.
      6050 Babcock St Southeast, Palm Bay, FL 32907
      View Details
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    Palm Bay, FL 32907-3207
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    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
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    880 Malabar SE Rd, Palm Bay, FL, 32907
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