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Property profile & analytics
OFF-MARKET
Estimated value
$6,450,000
Individual retail properties
1257 New Hvn Ave West Melbourne, FL 32904
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-2911192
Property profile
Verified
Property type
Individual retail properties
Use group
GYM, HEALTH SPA
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
45,755 SF
Lot
5.28 ac (229,997 SF)
Zoning code
C2
APN
28-37-05-00-00767.0-0000.00
UPID
US18-2911192
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
$6.73M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.45M
Owner & transaction history
Midtown Melbourne LLC · 5 yrs held
Midtown Melbourne LLC
since 2021
Last sale
$6.2M
3 recorded transactions
Zoning & alternative use
C2 · West 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 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
$6,680,000
ML approach
$6,730,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$8,590,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$5,705,000
Change: 0% · Conversion: Difficult
RESTAURANT
$5,490,000
Change: 0% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,295,000
Change: 0% · Conversion: Difficult
MEDICAL BUILDING
$4,390,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,325,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$6.45M
Range $5.81M – $7.10M · ±10% · vs last sale $6.19M (Jun 18 2021)
Last sale anchor
$6.19M
Jun 18 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
$141 / 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
$49,427
Tax year 2023
Assessed value
$3,000,910
Assessed 2023
Previous assessed
$2,943,030
+2.0% YoY
Effective rate
1.65%
On assessed value
Assessed land
$1,679,860
Assessed improvement
$1,321,050
Land market value
$1,679,860
Improvement market value
$1,321,050
Total market value
$3,000,910
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
Individual retail properties
Use group
GYM, HEALTH SPA
Status
Off-Market
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
45,755 SF
Lot
5.28 ac (229,997 SF)
Zoning code
C2
APN
28-37-05-00-00767.0-0000.00
UPID
US18-2911192
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
INDUSTRIAL (GENERAL)
Est. value
$8.6M
OFFICE BUILDING
Est. value
$5.7M
RESTAURANT
Est. value
$5.5M
WAREHOUSE, STORAGE
Est. value
$5.3M
MEDICAL BUILDING
Est. value
$4.4M
AUTO REPAIR, GARAGE
Est. value
$4.3M
INDUSTRIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
WAREHOUSE, STORAGE
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
5.28 ac
Current owner
From public records · entity-resolved
Midtown Melbourne LLC
Entity
Mailing address
5379 VICENZA WAY, SAN JOSE, CA 95138-2341
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 18, 2021
$6,191,000
Midtown Melbourne LLC
Pnd Melbourne LLC
Special Warranty Deed
$3,970,000 · South State Bank NA
Sep 25, 2019
$3,450,000
Pnd Melbourne LLC
Tru 2005 Re I LLC
Special Warranty Deed
$2,478,750 · Cadence Bank NA
Jan 27, 2006
—
Tru 2005 Re I LLC
Toys R Us Delaware INC
Warranty Deed
—
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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