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Entity Owned Property summary
This fee-simple ownership opportunity presents a 16,844-square-foot Walgreens located at 1213 Palm Bay Rd NE, Melbourne, FL 32905. The property sits on a 2.33-acre lot with 72 parking spaces and benefits from a prominent location at a signalized intersection with high daily traffic volume (71,500 vehicles). Built in 2000 and renovated in 2010, the building is zoned for general commercial use and features a 100% occupancy rate under a 15-year absolute NNN lease with Walgreens, commencing… February 20, 2024, and expiring February 28, 2039. The lease includes 12 five-year renewal options and provides for 5% rental increases every five years, ensuring consistent NOI growth. The current Net Operating Income (NOI) is $273,996, yielding a 6.00% cap rate at an asking price of $4,567,000. The property boasts a strong tenant credit with a corporate guarantee and benefits from its location within a dense retail corridor featuring national retailers such as Walmart, Target, and Publix. The 5-mile trade area has a population exceeding 153,300 residents and 64,000 employees, with an average household income of $77,668. This investment offers a management-free opportunity with significant long-term growth potential. The property's APN is 28-37-21-00-00261.0-0000.00.
Ownership intelligence
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with a plan.
Debts
Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.
Property tax · 2023
Value estimate
· Oct 2026Realmo valuation models over county records and 5 qualifying comparable sales.
Recently sold
Cap rate analysis
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recorded sales · 15 properties nearbyComparable nearby
Similar Nearby for Sale
Similar Nearby for Lease
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $199/month
- GBA
- 16,844 SF
- Lot area
- 2.33 ac
- Year built
- 2000
- Stories
- 1
- APN
- 28-37-21-00-00261.0-0000.00
- Zoning
- C1
- Assessed value · 2023
- $2,007,570
- Annual tax · 2023
- $38,282
- Auto Repair, Garage
- Retail Stores · current use
- Medical Building
- Office Building
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $199/month
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Registration is required before the official district profile is shown.
Official district profile
The provisions of this district are intended to apply to an area adjacent to arterial and major collector streets and convenient to major residential areas. The types of uses permitted are intended to serve consumer need…
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
Registration is required before any owner information is shown.
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with a plan - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
The mortgage data comes with a plan: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
- 10 Targeted Leads
- 1 Full Property Report
- Lead Lists by Intent
- Signals & Scores
- Building Details
- Value Estimation
- Cap Rate Evaluation
- Liens & Mortgages
- Ownership & Contacts
- Local Market trends
-
Zoning Insight— not in this plan -
Location Analytics— not in this plan
- 300 Targeted Leads a month
- 30 Full Property Reports
- Lead Lists by Intent
- Signals & Scores
- Building Details
- Value Estimation
- Cap Rate Evaluation
- Liens & Mortgages
- Ownership & Contacts
- Local Market trends
- Zoning Insight
-
Location Analytics— not in this plan
- 1,500 Targeted Leads a month
- 150 Full Property Reports
- Lead Lists by Intent
- Signals & Scores
- Building Details
- Value Estimation
- Cap Rate Evaluation
- Liens & Mortgages
- Ownership & Contacts
- Local Market trends
- Zoning Insight
- Location Analytics
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Sample leads
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Off Market
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Off Market
1201, CAPTAINS BAY RD, AK
Absentee
1201, CAPTAINS BAY RD, AK
Sample leads
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Off Market
1404, ATS, AK
Loan from 20067.7% rateColumbia State Bank
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Off Market
1503, BALLYHOO RD, AK
Loan from 2009Columbia State Bank
1503, BALLYHOO RD, AK
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Off Market
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Loan from 2019Northrim Bank
721 E, DEPOT DR, AK
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Off Market
AK
Loan from 2008Bmo Capital Markets Corp
AK
Still being built. It lands here next, beside the two above.
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