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Property profile & analytics
OFF-MARKET
Estimated value
$9,845,000
Office buildings
1111 General Aviation Dr Melbourne, FL 32935-6316
Entity Owned
Absentee Owner
Free & Clear
Property ID
US18-7279880
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2012
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
44,160 SF
Lot
11.93 ac (519,671 SF)
Zoning code
M1
APN
27-37-28-00-00253.0-0000.00
UPID
US18-7279880
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$9.86M
Comparable Approach
Comparable
$10.13M
Blend (final)
Blend
$9.85M
Owner & transaction history
MELBOURNE AIRPORT AUTHORITY, CITY
MELBOURNE AIRPORT AUTHORITY, CITY
Zoning & alternative use
M1 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$13.7M
+11.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Melbourne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Melbourne submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$10,685,000
6.5%
$9,860,000
7%
$9,155,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$12,250,000
Current use
COMMERCIAL (GENERAL)
$13,675,000
Change: +12% · Conversion: Easy
AUTO REPAIR, GARAGE
$9,865,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$9.85M
Range $8.86M – $10.83M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$223 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$167,919
Tax year 2023
Assessed value
$9,651,580
Assessed 2023
Previous assessed
$8,105,430
+19.1% YoY
Effective rate
1.74%
On assessed value
Assessed land
$1,559,010
Assessed improvement
$8,092,570
Land market value
$1,559,010
Improvement market value
$8,092,570
Total market value
$9,651,580
Applied tax rate
53.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
2012
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
3
Stories
2
Units
1
Total area
44,160 SF
Lot
11.93 ac (519,671 SF)
Zoning code
M1
APN
27-37-28-00-00253.0-0000.00
UPID
US18-7279880
Jurisdiction
BREVARD
Zoning & alternative use
M1 · Melbourne, FL
Zoning M1 · permitted uses
M1 · Melbourne, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Melbourne. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$12.3M
COMMERCIAL (GENERAL)
Est. value
$13.7M
AUTO REPAIR, GARAGE
Est. value
$9.9M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2012
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
3
Units
1
Lot
11.93 ac
Current owner
From public records · entity-resolved
MELBOURNE AIRPORT AUTHORITY, CITY
Individual
Free & Clear · 0 yrs held
Mailing address
1 AIR TERMINAL PKWY STE #220, MELBOURNE, FL 32901-1865
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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