5015 Babcock StPalm Bay, FL 32905

Property Details for 5015 Babcock St

Year built

1990

Lot size

1.30 AC

Property size (Sq ft)

6,100 SF

Zone code

HC

Property type

Specialty properties

Property subtype

Other shopping centers

APN

28-37-27-00-00279.0-0000.00

APU

9223372036854775807

Description

This 1.3-acre development site, located at 5015 Babcock Street NE in Palm Bay, Florida (zip code 32905), presents a compelling investment opportunity. Zoned HC (Highway Commercial), this rectangular parcel boasts 202 feet of frontage on Babcock Street and a depth of 280 feet. The property offers convenient access to Babcock Street via a driveway with a median cut, and includes 20 existing parking spaces. An eight-inch water line is already in place. The land is largely cleared, filled, and sits above street grade. This location benefits from high traffic volume

• CAP approach

  CAP return

  Valuation

  6%

  $2,464,492

  6.5%

  $2,274,916

  7%

  $2,112,422

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,413,865

  Geo Method

  $2,413,865

• Alternative Use

  Use

  Valuation

  Residential

  $1,918,976

  Hospitality

  $1,757,772

  Educational

  $1,462,446

  Medical

  $1,512,742

  Retail

  $2,274,916

Location Insight

City

Palm Bay

County

Brevard

State

Florida

Latitude

28.0256

Longitude

-80.6214

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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