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Property profile & analytics
OFF-MARKET
Estimated value
$1,650,000
Apartment buildings
159 University Blvd 301-303 Melbourne, FL 32901-7027
Individually Owned
7-yr Hold
Free & Clear
Property ID
US18-0573939
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2019
Construction
WOOD
Total area
19,560 SF
Lot
3.92 ac (170,755 SF)
Zoning code
I1
APN
28-37-10-00-00505.0-0000.00
UPID
US18-0573939
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
-
University Commons Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.65M
Owner & transaction history
University Commons Melbourne L · 7 yrs held
University Commons Melbourne L
since 2018
2 recorded transactions
Zoning & alternative use
I1 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$84 / 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
$143,947
Tax year 2023
Assessed value
$8,040,220
Assessed 2023
Previous assessed
$9,622,410
-16.4% YoY
Effective rate
1.79%
On assessed value
Assessed land
$1,365,000
Assessed improvement
$6,675,220
Land market value
$1,365,000
Improvement market value
$6,675,220
Total market value
$8,040,220
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2019
Construction
WOOD
Heating
FORCED AIR
Cooling
YES
Buildings
5
Stories
3
Units
8
Total area
19,560 SF
Lot
3.92 ac (170,755 SF)
Zoning code
I1
APN
28-37-10-00-00505.0-0000.00
UPID
US18-0573939
Jurisdiction
BREVARD
Zoning & alternative use
I1 · Melbourne, FL
Zoning I1 · permitted uses
I1 · 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
2019
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
5
Units
8
Lot
3.92 ac
Current owner
From public records · entity-resolved
University Commons Melbourne L
Individual
Free & Clear · 7 yrs held
Mailing address
801 N ORANGE AVE STE #518, ORLANDO, FL 32801-5202
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 29, 2018
$1,352,000
University Commons Melbourne L
New Shiloh Christian Ctr INC
Warranty Deed
—
—
—
Shiloh Christian Center INC
—
Deed Of Trust
related
$2,900,000 · Florida Business Bank
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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