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Property profile & analytics
OFF-MARKET
Estimated value
$865,000
Strip malls
1175 New Hvn Ave West Melbourne, FL 32904-4063
Entity Owned
35-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-0643628
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,175 SF
Lot
0.8 ac (34,848 SF)
Zoning code
C2
APN
28-37-05-78-0000E.0-0001.00
UPID
US18-0643628
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
by Request
Comparable Approach
Comparable
$1.04M
Blend (final)
Blend
$865k
Owner & transaction history
Tiki Tee INC · 35 yrs held
Tiki Tee INC
since 1991
1 recorded transaction
Zoning & alternative use
C2 · West Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.4M
+25.3%
Medical building
$1.3M
+16.9%
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 West Melbourne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,120,000
Current use
RETAIL STORES
$1,400,000
Change: +25% · Conversion: Easy
MEDICAL BUILDING
$1,310,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$865k
Range $779k – $952k · ±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
$106 / 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
$13,245
Tax year 2023
Assessed value
$803,290
Assessed 2023
Previous assessed
$797,960
+0.7% YoY
Effective rate
1.65%
On assessed value
Assessed land
$416,520
Assessed improvement
$386,770
Land market value
$416,520
Improvement market value
$386,770
Total market value
$803,290
Applied tax rate
34.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
4
Total area
8,175 SF
Lot
0.8 ac (34,848 SF)
Zoning code
C2
APN
28-37-05-78-0000E.0-0001.00
UPID
US18-0643628
Jurisdiction
BREVARD
Zoning & alternative use
C2 · West Melbourne, FL
Zoning C2 · permitted uses
C2 · West Melbourne, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Melbourne. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.1M
RETAIL STORES
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
MEDICAL BUILDING
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
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
4
Lot
0.8 ac
Current owner
From public records · entity-resolved
Tiki Tee INC
Entity
Free & Clear · 35 yrs held
Mailing address
9113 SOUTHERN BREEZE DR, ORLANDO, FL 32836-5053
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1991
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 1, 1991
$463,600
Tiki Tee INC
Hall,lawrence JR Etu
Warranty Deed
related
—
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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