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Property profile & analytics
OFF-MARKET
Estimated value
$9,600,000
Apartment buildings
1165 Jordan Rd Merritt Island, FL 32953-4416
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-3527589
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1968
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,276 SF
Lot
8.47 ac (368,953 SF)
Zoning code
RU230
APN
24-36-22-00-00783.0-0000.00
UPID
US18-3527589
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
Current use
Occupant on record · Public records
-
Tropical Manor Apartments Inc Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.92M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.90M
Blend (final)
Blend
$9.60M
Owner & transaction history
Hkh Tropical LP · 5 yrs held
Hkh Tropical LP
since 2021
Last sale
$9.3M
6 recorded transactions
Zoning & alternative use
RU230 · Merritt Island, 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 Merritt Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Merritt Island 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
$9,980,000
ML approach
$9,915,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$9.60M
Range $8.64M – $10.56M · ±10% · vs last sale $9.25M (Apr 21 2021)
Last sale anchor
$9.25M
Apr 21 2021
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
$1,319 / 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
$115,680
Tax year 2023
Assessed value
$7,336,930
Assessed 2023
Previous assessed
$7,348,960
-0.2% YoY
Effective rate
1.58%
On assessed value
Assessed land
$187,000
Assessed improvement
$7,149,930
Land market value
$187,000
Improvement market value
$7,149,930
Total market value
$7,336,930
Applied tax rate
2,200.0000
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
1968
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Buildings
11
Stories
2
Units
8
Rooms
346
Bathrooms
2
Total area
7,276 SF
Lot
8.47 ac (368,953 SF)
Zoning code
RU230
APN
24-36-22-00-00783.0-0000.00
UPID
US18-3527589
Jurisdiction
BREVARD
Zoning & alternative use
RU230 · Merritt Island, FL
Zoning RU230 · permitted uses
RU230 · Merritt Island, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Merritt Island. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1968
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
11
Units
8
Rooms
346
Bathrooms
2
Lot
8.47 ac
Current owner
From public records · entity-resolved
Hkh Tropical LP
Entity
Mailing address
325 E HILLCREST DR STE #122, THOUSAND OAKS, CA 91360-7784
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 21, 2021
$9,250,000
Hkh Tropical LP
Tropical Manor Holdings LLC
Special Warranty Deed
$12,255,000 · Bonneville Mortgage Co
Dec 26, 2018
$5,100,000
Tropical Manor Holdings LLC
The Tropical And Shull Manor LLC
Special Warranty Deed
related
$4,160,000 · Berkeley Point Capital LLC
Dec 18, 2001
$3,200,000
Tropical & Shull Manor LLC
Shull Manor Apartments INC
Grant Deed
related
$2,240,000 · Fidelity Federal Bank & Trust
—
—
Tropical Manor Apartments INC
—
Deed Of Trust
related
$230,500 · Community Bank Of The South
—
—
Tropical Manor Apartments INC
—
Deed Of Trust
related
$55,500 · Community Bank Of The South
—
—
Tropical & Shull Manor LLC
—
Deed Of Trust
related
$3,000,000 · Unibank
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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