$375,000
Palm Bay, FL 32905
MLS# 658126
Status: Closed
6000 sqft
1 / 12
Property Description
An excellent investment opportunity with growth potential on busy Babcock Street in Palm Bay, Florida. This 6,000 sq ft building is currently leased and Pinch-a-Penny has been in this same location for over 20 years. The 1.56 acre site offers ample space at the rear of the building for additional development or expansion. Based on the listed price the current lease generates an annual net operating income over $46,000, a CAP rate of nearly 8%.
Details
Maps
Location, Tax, and Legal
Tax Account: 2830800
Parcel Number: 28372100000130000000
General County Location: South
Elementary School: Riviera
High School: Palm Bay
Tax Annual Amount: 10096.62
Tax Year: 2012
Tax Legal Description: N 125 FT OF LOT 17 EX RD R/W
Directions: West side of Babcock Street North of Palm Bay Road.
General Property Information
Number Of Buildings: 1
Living Area: 6000
Living Area Source: Public Records
Building Area Total: 6000
Lot Size Acres: 1.56
Lot Size Dimensions: 545 x 125
Lot Size Square Feet: 67953.6
Association YN: No
Garage YN: No
Garage Spaces: 0
Carport YN: No
Carport Spaces: 0
Waterfront YN: No
Senior Community YN: No
Water Body Access YN: No
Pool Private YN: No
List Price/SqFt: 97.5
Sold Price/SqFt: 62.5
Remarks and Miscellaneous
Public Remarks: An excellent investment opportunity with growth potential on busy Babcock Street in Palm Bay, Florida. This 6,000 sq ft building is currently leased and Pinch-a-Penny has been in this same location for over 20 years. The 1.56 acre site offers ample space at the rear of the building for additional development or expansion. Based on the listed price the current lease generates an annual net operating income over $46,000, a CAP rate of nearly 8%.
Appliances
Other: 1
Construction Materials
Frame: 1
Other: 1
Flooring
Vinyl: 1
Levels
One: 1
Listing Terms
Cash: 1
Conventional: 1
Pool Features
None: 1
Financial Data Source
Owner: 1
Income and Expenses
Gross Scheduled Income: 62025
Net Operating Income: 46025
Operating Expense: 16000
Owner Pays
Common Area Maintenance: 1
Insurance: 1
Taxes: 1
Trash Collection: 1
Roof
Metal: 1
Special Listing Conditions
Standard: 1
Utilities
Sewer Connected: 1
Water Available: 1
Water Source
Public: 1
Showing Requirements
Appointment Only: 1
Call Listing Office: 1
No Sign: 1
Showing Considerations
Occupied: 1
Historical Information
Public Historical Remarks 3: Contact: List Agent, Zoning: HC, Site Location-Major Roadway: Y
Contract Information
Current Price: $375,000
Original List Price: 585000
Sold Price: $375,000
Status: Closed
Listing Contract Date: 2013-01-10
Property Sub Type: Multi Family
Location Tax and Legal
Street Number: 4610
Street Direction Prefix: NE
Street Name: Babcock
County: Brevard
State: FL
Postal Code: 32905
MLS Area Major: 330 - Melbourne - Central
Subdivision Name: Lot 32 Ex N 890ft and S 100ft
Status Change Information
Major Change Timestamp: 2013-12-04T18:29:19Z
Major Change Type: Status Change
Status Change Timestamp: 2013-12-04
Purchase Contract Date: 2013-07-19
Close Date: 2013-12-02
Close Price: 375000
Property Features
Appliances: Other
Construction Materials: Frame; Other
Financial Data Source: Owner
Flooring: Vinyl
Levels: One
Listing Terms: Cash; Conventional
Owner Pays: Common Area Maintenance; Insurance; Taxes; Trash Collection
Pool Features: None
Roof: Metal
Special Listing Conditions: Standard
Utilities: Sewer Connected; Water Available
Water Source: Public
Showing Considerations: Occupied
Showing Requirements: Appointment Only; Call Listing Office; No Sign
Listing Office: One Sotheby's Inter Realty
Last Updated: June - 15 - 2026
Information is deemed to be reliable, but is not guaranteed.