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Property profile & analytics
OFF-MARKET
Estimated value
$14,140,000
Strip malls
1305 Babcock St Melbourne, FL 32901-3068
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-6131859
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
65,908 SF
Lot
17.92 ac (780,595 SF)
Zoning code
CP
APN
27-37-34-50-00000.0-000A.03
UPID
US18-6131859
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
-
Spirit Halloween (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.24M
CAP Approach
CAP
$13.51M
Comparable Approach
Comparable
$14.39M
Blend (final)
Blend
$14.14M
Owner & transaction history
Brookwood Msc LLC · 2 yrs held
Brookwood Msc LLC
since 2023
Last sale
$14.3M
5 recorded transactions
Zoning & alternative use
CP · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$20.4M
+126.2%
Auto repair, garage
$14.7M
+63.2%
Office building
$11.5M
+27.6%
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 Melbourne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs 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
$10,965,000
ML approach
$9,235,000
CAP Approach
CAP Return
Estimation
6%
$14,630,000
6.5%
$13,505,000
7%
$12,540,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$9,025,000
Current use
COMMERCIAL (GENERAL)
$20,405,000
Change: +126% · Conversion: Easy
AUTO REPAIR, GARAGE
$14,725,000
Change: +63% · Conversion: Difficult
OFFICE BUILDING
$11,510,000
Change: +28% · Conversion: Moderate
RETAIL STORES
$11,305,000
Change: +25% · Conversion: Easy
MEDICAL BUILDING
$10,545,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$14.14M
Range $12.73M – $15.55M · ±10% · vs last sale $14.33M (Dec 12 2023)
Last sale anchor
$14.33M
Dec 12 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
$215 / 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
$188,040
Tax year 2023
Assessed value
$8,741,430
Assessed 2023
Previous assessed
$8,720,840
+0.2% YoY
Effective rate
2.15%
On assessed value
Assessed land
$2,419,690
Assessed improvement
$6,321,740
Land market value
$2,419,690
Improvement market value
$6,321,740
Total market value
$8,741,430
Applied tax rate
53.0000
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
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Buildings
3
Stories
1
Units
5
Total area
65,908 SF
Lot
17.92 ac (780,595 SF)
Zoning code
CP
APN
27-37-34-50-00000.0-000A.03
UPID
US18-6131859
Jurisdiction
BREVARD
Zoning & alternative use
CP · Melbourne, FL
Zoning CP · permitted uses
CP · Melbourne, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Melbourne. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$9.0M
COMMERCIAL (GENERAL)
Est. value
$20.4M
AUTO REPAIR, GARAGE
Est. value
$14.7M
OFFICE BUILDING
Est. value
$11.5M
RETAIL STORES
Est. value
$11.3M
MEDICAL BUILDING
Est. value
$10.5M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
3
Units
5
Lot
17.92 ac
Current owner
From public records · entity-resolved
Brookwood Msc LLC
Entity
Mailing address
138 CONANT ST, BEVERLY, MA 01915-1672
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
Dec 12, 2023
$14,330,000
Brookwood Msc LLC
Ddr Melbourne LLC
Special Warranty Deed
$15,800,000 · Berkshire Bank
Dec 12, 2018
$11,400,000
Ddr Melbourne LLC
Ddrm Melbourne Shopping Ctr Ll
Grant Deed
—
Nov 2, 2018
$11,400,000
Ddr Melbourne LLC
Ddrm Melbourne Shopping Ctr Ll
Grant Deed
related
—
Jul 3, 2007
—
Ddrm Melbourne Shopping Center
Ddr Southeast Melbourne LLC
Grant Deed
$885,000,000 · Lasalle National Bank
Oct 1, 1999
$375,000
Suntrust Bank Central Florida
Melbourne Shopping Centers INC
Grant 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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