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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Retail space
1385 New Hvn Ave West Melbourne, FL 32904-3901
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US18-0317907
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,276 SF
Lot
0.12 ac (5,227 SF)
Zoning code
C2
APN
28-37-05-77-00001.0-0005.00
UPID
US18-0317907
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
$510k
CAP Approach
CAP
$580k
Comparable Approach
Comparable
$430k
Blend (final)
Blend
$505k
Owner & transaction history
Muddymc LLC · 6 yrs held
Muddymc LLC
since 2020
Last sale
$525,000
5 recorded transactions
Zoning & alternative use
C2 · West Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Zoning
Top alternative use upside
Auto repair, garage
$730,000
+30.3%
Office building
$665,000
+18.2%
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
$450,000
ML approach
$510,000
CAP Approach
CAP Return
Estimation
6%
$630,000
6.5%
$580,000
7%
$540,000
Alternative Use
Use
Estimation
RETAIL STORES
$560,000
Current use
AUTO REPAIR, GARAGE
$730,000
Change: +30% · Conversion: Difficult
OFFICE BUILDING
$665,000
Change: +18% · Conversion: Easy
MEDICAL BUILDING
$525,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$505k
Range $455k – $556k · ±10% · vs last sale $525k (Jul 29 2020)
Last sale anchor
$525k
Jul 29 2020
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
$154 / 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
$4,587
Tax year 2023
Assessed value
$249,540
Assessed 2023
Previous assessed
$220,950
+12.9% YoY
Effective rate
1.84%
On assessed value
Assessed land
$64,920
Assessed improvement
$184,620
Land market value
$64,920
Improvement market value
$184,620
Total market value
$249,540
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Stories
2
Units
1
Total area
3,276 SF
Lot
0.12 ac (5,227 SF)
Zoning code
C2
APN
28-37-05-77-00001.0-0005.00
UPID
US18-0317907
Jurisdiction
BREVARD
Zoning & alternative use
C2 · West Melbourne, FLZoning 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
Source
Zoning
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$560,000
AUTO REPAIR, GARAGE
Est. value
$730,000
OFFICE BUILDING
Est. value
$665,000
MEDICAL BUILDING
Est. value
$525,000
RETAIL STORES Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Units
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
Muddymc LLC
Entity
Mailing address
2707 BRADFORDT DR, MELBOURNE, FL 32904-7324
Ownership since
2020
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 31, 2020
—
Muddymc LLC
—
Deed
related
$511,600 · First National Bank
Jul 29, 2020
$525,000
Muddymc LLC
John Laisi
Warranty Deed
$448,000 · First National Bank
Mar 10, 2005
$375,500
John Laisi
Bauer,e M
Warranty Deed
$275,000 · E M Bauer
—
—
Marilyn Bauer
—
Deed Of Trust
related
$121,995 · Bank Of America
—
—
John Laisi
—
Deed Of Trust
related
$204,025 · E Marilyn Bauer
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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