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Property profile & analytics
OFF-MARKET
Estimated value
$3,090,000
Auto shops
135 Palmetto Ave Merritt Island, FL 32953-3461
Entity Owned
4-yr Hold
Free & Clear
Property ID
US18-0368473
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
2001
Construction
FRAME
Total area
13,526 SF
Lot
1.97 ac (85,813 SF)
Zoning code
BU-2
APN
24-36-35-00-00006.0-0000.00
UPID
US18-0368473
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
-
Gerber Collision & Glass Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.09M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.28M
Blend (final)
Blend
$3.09M
Owner & transaction history
Agree Stores LLC · 4 yrs held
Agree Stores LLC
since 2021
Last sale
$3.0M
5 recorded transactions
Zoning & alternative use
BU-2 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.6M
+62.9%
Commercial (general)
$3.2M
+13.7%
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
$3,185,000
ML approach
$3,090,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$2,820,000
Current use
RESTAURANT
$4,595,000
Change: +63% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,205,000
Change: +14% · Conversion: Moderate
OFFICE BUILDING
$2,395,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$3.09M
Range $2.78M – $3.40M · ±10% · vs last sale $2.95M (Sep 23 2021)
Last sale anchor
$2.95M
Sep 23 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
$228 / 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
$22,239
Tax year 2023
Assessed value
$1,247,810
Assessed 2023
Previous assessed
$1,133,750
+10.1% YoY
Effective rate
1.78%
On assessed value
Assessed land
$331,100
Assessed improvement
$916,710
Land market value
$331,100
Improvement market value
$916,710
Total market value
$1,247,810
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
2001
Construction
FRAME
Heating
NONE
Cooling
NONE
Buildings
2
Stories
1
Units
1
Total area
13,526 SF
Lot
1.97 ac (85,813 SF)
Zoning code
BU-2
APN
24-36-35-00-00006.0-0000.00
UPID
US18-0368473
Jurisdiction
BREVARD
Zoning & alternative use
BU-2 · Merritt Island, FL
Zoning BU-2 · permitted uses
BU-2 · 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
AUTO REPAIR, GARAGE Current
Est. value
$2.8M
RESTAURANT
Est. value
$4.6M
COMMERCIAL (GENERAL)
Est. value
$3.2M
OFFICE BUILDING
Est. value
$2.4M
AUTO REPAIR, GARAGE Current
RESTAURANT
COMMERCIAL (GENERAL)
OFFICE 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
2001
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
1.97 ac
Current owner
From public records · entity-resolved
Agree Stores LLC
Entity
Free & Clear · 4 yrs held
Mailing address
70 E LONG LK RD, BLOOMFIELD HILLS, MI 48304-2356
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 23, 2021
$2,950,000
Agree Stores LLC
K&r Properties Of Brevard INC
Warranty Deed
—
Jun 28, 2017
—
K & R Properties Brevard INC
—
Deed
related
$1,220,600 · Florida Busn Bk
Jun 28, 2004
$750,000
Craftmaster Auto Body Lc
Boniface,bernard R
Warranty Deed
$600,000 · Branch Banking & Trust Co
—
—
Craftmaster Auto Body Group In
—
Deed Of Trust
related
$325,000 · Bank Of America
—
—
K & R Properties Brevard INC
—
Deed Of Trust
related
$1,220,600 · Florida Busn Bk
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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