New search
Property profile & analytics
OFF-MARKET
Estimated value
$6,345,000
Assisted living facilities
125 Alma Blvd, Merritt Island, FL 32953-4345
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-0493852
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
23,789 SF
Lot
4.9 ac (213,444 SF)
Zoning code
IN(L)
APN
24-36-23-BX-00000.0-0013.00
UPID
US18-0493852
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
-
Rebecca Zavaleta Physician
-
Julie Fleck Physician
-
Lisa Ficarrotta Physician
-
Shauna Boes Physician
-
Monica Hyder Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.06M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.35M
Owner & transaction history
125 Alma Boulevard Fl Owner LLC · 2 yrs held
125 Alma Boulevard Fl Owner LLC
since 2023
Last sale
$6.7M
5 recorded transactions
Zoning & alternative use
IN(L) · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.0M
+854.9%
Office building
$4.0M
+673.3%
Industrial (general)
$3.8M
+632.4%
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
$5,850,000
ML approach
$6,055,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$4,995,000
Change: +855% · Conversion: Difficult
OFFICE BUILDING
$4,045,000
Change: +673% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,830,000
Change: +632% · Conversion: Difficult
Blend value · Realmo final
$6.35M
Range $5.71M – $6.98M · ±10% · vs last sale $6.74M (Sep 13 2023)
Last sale anchor
$6.74M
Sep 13 2023
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
$267 / 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
$39,965
Tax year 2023
Assessed value
$2,303,920
Assessed 2023
Previous assessed
$2,275,000
+1.3% YoY
Effective rate
1.73%
On assessed value
Assessed land
$213,460
Assessed improvement
$2,090,460
Land market value
$213,460
Improvement market value
$2,090,460
Total market value
$2,303,920
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
1
Units
1
Total area
23,789 SF
Lot
4.9 ac (213,444 SF)
Zoning code
IN(L)
APN
24-36-23-BX-00000.0-0013.00
UPID
US18-0493852
Jurisdiction
BREVARD
Zoning & alternative use
IN(L) · Merritt Island, FL
Zoning IN(L) · permitted uses
IN(L) · 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.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$5.0M
OFFICE BUILDING
Est. value
$4.0M
INDUSTRIAL (GENERAL)
Est. value
$3.8M
COMMERCIAL (GENERAL)
OFFICE BUILDING
INDUSTRIAL (GENERAL)
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
1972
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
4.9 ac
Current owner
From public records · entity-resolved
125 Alma Boulevard Fl Owner LLC
Entity
Free & Clear · 2 yrs held
Mailing address
885 3RD AVE FL, NEW YORK, NY 10022-4834
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 13, 2023
$6,735,871
125 Alma Boulevard Fl Owner LLC
Fc Encore Merritt Island LLC
Special Warranty Deed
—
Sep 21, 2016
$6,717,300
Fc Encore Merritt Island LLC
Fc Encore Core Properties LLC
Grant Deed
related
—
Oct 12, 2006
—
Formation Portfolio I LLC
Formation Properties I LLC
Quit Claim Deed
—
Aug 9, 2004
—
Formation Properties I LLC
—
Deed Of Trust
related
$200,000,000 · General Electric Capital Corp
Jan 14, 2002
—
Formation Properties I LLC
Beverly Enterprises Fl INC
Quit Claim 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 125 Alma Blvd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
