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Property profile & analytics
OFF-MARKET
Estimated value
$520,000
Office buildings
1385 Wickham Rd, West Melbourne, FL 32904-2444
Entity Owned
8-yr Hold
Free & Clear
Property ID
US18-2830353
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,025 SF
Lot
0.35 ac (15,246 SF)
Zoning code
C1A
APN
28-36-01-01-00000.0-000D.07
UPID
US18-2830353
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
$325k
CAP Approach
CAP
$675k
Comparable Approach
Comparable
$665k
Blend (final)
Blend
$520k
Owner & transaction history
Itg 1385 S Wickham Rd LLC · 8 yrs held
Itg 1385 S Wickham Rd LLC
since 2018
4 recorded transactions
Zoning & alternative use
C1A · West Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$675,000
+10.2%
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
by Request
ML approach
$325,000
CAP Approach
CAP Return
Estimation
6%
$730,000
6.5%
$675,000
7%
$625,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$615,000
Current use
AUTO REPAIR, GARAGE
$675,000
Change: +10% · Conversion: Difficult
RETAIL STORES
$520,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$520k
Range $468k – $572k · ±10%
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
$172 / 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
$5,974
Tax year 2023
Assessed value
$406,130
Assessed 2023
Previous assessed
$354,870
+14.4% YoY
Effective rate
1.47%
On assessed value
Assessed land
$84,610
Assessed improvement
$321,520
Land market value
$84,610
Improvement market value
$321,520
Total market value
$406,130
Applied tax rate
52.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
3,025 SF
Lot
0.35 ac (15,246 SF)
Zoning code
C1A
APN
28-36-01-01-00000.0-000D.07
UPID
US18-2830353
Jurisdiction
BREVARD
Zoning & alternative use
C1A · West Melbourne, FL
Zoning C1A · permitted uses
C1A · 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
OFFICE BUILDING Current
Est. value
$615,000
AUTO REPAIR, GARAGE
Est. value
$675,000
RETAIL STORES
Est. value
$520,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
0.35 ac
Current owner
From public records · entity-resolved
Itg 1385 S Wickham Rd LLC
Entity
Free & Clear · 8 yrs held
Mailing address
1385 S WICKHAM RD, MELBOURNE, FL 32904-2444
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 31, 2018
$420,000
Itg 1385 S Wickham Rd LLC
Pinecrest Properties LLC
Warranty Deed
—
Jun 1, 2006
$6,200
Brevard County
Pinecrest Properties LLC
Warranty Deed
—
Apr 7, 2003
$72,500
Pinecrest Properties LLC
Rossetter,tr
Grant Deed
—
Apr 2, 1998
$75,000
Rossetter Trust
Brett,joseph J
Grant 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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