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Property profile & analytics
OFF-MARKET
Estimated value
$675,000
Turn key restaurants
1510 New Hvn Ave Melbourne, FL 32904-3964
Entity Owned
18-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-8982291
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1986
Construction
WOOD
Total area
8,780 SF
Lot
1.54 ac (67,082 SF)
Zoning code
CP
APN
28-37-05-00-00260.0-0000.00
UPID
US18-8982291
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
-
The Burger Experience Restaurant
-
The Wing Experience Restaurant
-
Smokey Bones Melbourne Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$470k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$881k
Blend (final)
Blend
$675k
Owner & transaction history
Spirit Master Funding IV LLC · 18 yrs held
Spirit Master Funding IV LLC
since 2008
4 recorded transactions
Zoning & alternative use
CP · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
$470,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$675k
Range $608k – $743k · ±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
$77 / 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
$36,617
Tax year 2023
Assessed value
$1,961,750
Assessed 2023
Previous assessed
$1,942,830
+1.0% YoY
Effective rate
1.87%
On assessed value
Assessed land
$872,080
Assessed improvement
$1,089,670
Land market value
$872,080
Improvement market value
$1,089,670
Total market value
$1,961,750
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1986
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
8,780 SF
Lot
1.54 ac (67,082 SF)
Zoning code
CP
APN
28-37-05-00-00260.0-0000.00
UPID
US18-8982291
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.
Building & site characteristics
From public records
Year built
1986
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
1.54 ac
Current owner
From public records · entity-resolved
Spirit Master Funding IV LLC
Entity
Free & Clear · 18 yrs held
Mailing address
2999 NE 191ST ST STE #500, AVENTURA, FL 33180-3384
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
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
Mar 3, 2008
$2,788,000
Spirit Master Funding IV LLC
Gmr Restaurants Of Pennsylvania I
Grant Deed
—
Mar 3, 2008
—
Gmri-sb Properties LLC
Gmri INC
Quit Claim Deed
related
—
Nov 30, 2001
$1,550,000
Gmri INC
Cgr Management Corp
Grant Deed
—
Jul 1, 1997
$919,300
Cgr Management Corp
Cooker Restaurant Corp
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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