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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    906 Cotorro Rd Palm Bay, FL 32909

    • Commercial real estate
    For Sale
    View listing
    $65,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5414272
    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 906 Cotorro Rd

    Property type
    Commercial real estate

    Description

    This exceptional 10,019 square foot vacant lot presents a unique investment opportunity in Palm Bay, Florida. Located at 906 Cotorro Road SE, zip code 32909, this property is zoned for both commercial and residential use, offering considerable flexibility for developers. The lot is situated in a well-maintained area with convenient access to paved roads and city water. Its prime location offers proximity to a range of amenities, including Columbia Elementary School, Southwest Middle School, Bayside High School, and Eastern Florida State College, ensuring a strong potential for residential development. Furthermore, the close proximity to shopping centers, recreational parks, and restaurants enhances its appeal for commercial ventures. The asking price for this versatile property is $65,000. This represents a compelling opportunity to capitalize on the growing demand for both residential and commercial spaces in this desirable Palm Bay location. The property's size and zoning make it suitable for a variety of development projects, from single-family homes to small commercial buildings. Interested parties are encouraged to conduct their own due diligence and explore the possibilities this land offers. The lot is conveniently located in Unit 11.

    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
    -80.646773
    Latitude
    27.973278

    Comparable in this City

    • $64,799

      Palm Bay Commercial Land Investment

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      3057 Tropical Cir, Palm Bay, FL 32909
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    • $85,000

      Palm Bay Commercial Land Opportunity

      10,019 SF Lot, Water & Sewer
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    • $79,000

      Palm Bay Commercial Land - $79K

      Buildable 0.4-acre lot, prime location.
      2961 Palisades Dr, Palm Bay, FL 32909
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    • $85,000

      Palm Bay Commercial Land - $85k

      Prime .46-acre lot, ideal for residential or commercial development.
      3238 Aspen Rd, Palm Bay, FL 32909
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    • $74,900

      Palm Bay Commercial/Residential Land

      10,019 SF lot, city water, driveway.
      3630 Jupiter Blvd, Palm Bay, FL 32909
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    • $75,000

      Palm Bay Commercial Land Investment

      10,890 SF lot, city water, canal views.
      246 Brantley St, Palm Bay, FL 32909
      View Details

    Similar Nearby for Sale

    • $64,799

      Palm Bay Commercial Land Investment

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    • $85,000

      Palm Bay Commercial Land Opportunity

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      799 Empress St, Palm Bay, FL 32909
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    • $79,000

      Palm Bay Commercial Land - $79K

      Buildable 0.4-acre lot, prime location.
      2961 Palisades Dr, Palm Bay, FL 32909
      View Details
    • $85,000

      Palm Bay Commercial Land - $85k

      Prime .46-acre lot, ideal for residential or commercial development.
      3238 Aspen Rd, Palm Bay, FL 32909
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    • $74,900

      Palm Bay Commercial/Residential Land

      10,019 SF lot, city water, driveway.
      3630 Jupiter Blvd, Palm Bay, FL 32909
      View Details
    • $75,000

      Palm Bay Commercial Land Investment

      10,890 SF lot, city water, canal views.
      246 Brantley St, Palm Bay, FL 32909
      View Details

    Similar Nearby for Lease

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    906 Cotorro Rd
    Palm Bay, FL 32909
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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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