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Property profile & analytics
OFF-MARKET
Estimated value
$2,965,000
Apartment buildings
115 Seminole Ave Melbourne, FL 32901-2958
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-6044719
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
16,384 SF
Lot
0.57 ac (24,829 SF)
Zoning code
R3
APN
28-37-04-01-0000G.0-0001.00
UPID
US18-6044719
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
$3.06M
CAP Approach
CAP
$2.58M
Comparable Approach
Comparable
$4.12M
Blend (final)
Blend
$2.97M
Owner & transaction history
115 Aria Apartment Homes LLC · 3 yrs held
115 Aria Apartment Homes LLC
since 2022
Last sale
$2.9M
3 recorded transactions
Zoning & alternative use
R3 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$3,005,000
ML approach
$3,060,000
CAP Approach
CAP Return
Estimation
6%
$2,795,000
6.5%
$2,580,000
7%
$2,395,000
Blend value · Realmo final
$2.97M
Range $2.67M – $3.26M · ±10% · vs last sale $2.90M (Oct 28 2022)
Last sale anchor
$2.90M
Oct 28 2022
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
$181 / 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
$40,210
Tax year 2023
Assessed value
$2,194,830
Assessed 2023
Previous assessed
$1,518,520
+44.5% YoY
Effective rate
1.83%
On assessed value
Assessed land
$122,850
Assessed improvement
$2,071,980
Land market value
$122,850
Improvement market value
$2,071,980
Total market value
$2,194,830
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Stories
2
Units
26
Bathrooms
1
Total area
16,384 SF
Lot
0.57 ac (24,829 SF)
Zoning code
R3
APN
28-37-04-01-0000G.0-0001.00
UPID
US18-6044719
Jurisdiction
BREVARD
Zoning & alternative use
R3 · Melbourne, FL
Zoning R3 · permitted uses
R3 · 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.
Building & site characteristics
From public records
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Units
26
Bathrooms
1
Lot
0.57 ac
Current owner
From public records · entity-resolved
115 Aria Apartment Homes LLC
Entity
Mailing address
610 SYCAMORE ST STE #205, KISSIMMEE, FL 34747-5425
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2022
$2,900,000
115 Aria Apartment Homes LLC
Mindell Garden Apartments LLC
Warranty Deed
$2,030,000 · Midflorida Cu
Aug 28, 2015
$775,000
Mindell Garden Apartments LLC
Sdrussell LLC
Warranty Deed
$185,000 · Centerstate Bk/fl
Jun 21, 2007
$1,150,000
Sdr LLC
Mindell Gardens Partnership
Corporation Deed
$990,000 · Wachovia Bank NA
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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