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Property profile & analytics
OFF-MARKET
Estimated value
$2,995,000
Office buildings
1501 Robert J Conlan NE Blvd Palm Bay, FL 32905-3502
Trust Owned
16-yr Hold
Free & Clear
Property ID
US18-2458131
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
29,098 SF
Lot
1.72 ac (74,923 SF)
Zoning code
HC
APN
28-37-23-00-00003.0-0000.00
UPID
US18-2458131
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.79M
Blend (final)
Blend
$3.00M
Owner & transaction history
1533 Richards Dr Trust · 16 yrs held
1533 Richards Dr Trust
since 2009
1 recorded transaction
Zoning & alternative use
HC · Palm Bay, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this district is to permit highway oriented businesses and regional scale facilities located along or near the intersection of major arterials and transportation nodes.
Zone name
Highway Commercial
General category
COMMERCIAL
Zone area
247.17 ac
Source
Realmo
Top alternative use upside
Medical building
$4.7M
+5.8%
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 Palm Bay submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palm Bay 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,400,000
Current use
MEDICAL BUILDING
$4,655,000
Change: +6% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$3,985,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$3.00M
Range $2.70M – $3.29M · ±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
$103 / 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
$22,938
Tax year 2023
Assessed value
$1,254,590
Assessed 2023
Previous assessed
$1,099,150
+14.1% YoY
Effective rate
1.83%
On assessed value
Assessed land
$289,030
Assessed improvement
$965,560
Land market value
$289,030
Improvement market value
$965,560
Total market value
$1,254,590
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Units
12
Total area
29,098 SF
Lot
1.72 ac (74,923 SF)
Zoning code
HC
APN
28-37-23-00-00003.0-0000.00
UPID
US18-2458131
Jurisdiction
BREVARD
Zoning & alternative use
HC · Palm Bay, FLZoning HC · permitted uses
HC · Palm Bay, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of this district is to permit highway oriented businesses and regional scale facilities located along or near the intersection of major arterials and transportation nodes.
Zone name
Highway Commercial
General category
COMMERCIAL
Zone area
247.17 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$4.4M
MEDICAL BUILDING
Est. value
$4.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.0M
OFFICE BUILDING Current
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
12
Lot
1.72 ac
Current owner
From public records · entity-resolved
1533 Richards Dr Trust
Trust
Free & Clear · 16 yrs held
Mailing address
19151 FOX LNDG DR, BOCA RATON, FL 33434-5157
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 29, 2009
—
1533 Richards Dr Trust
Ankney,cynthia L
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.
Try Rey
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