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Property profile & analytics
OFF-MARKET
Estimated value
$1,265,000
Grocery and convenience stores
1600 Wickham Rd Melbourne, FL 32935-8118
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-5498167
Property summary
AI-generated overview
This exceptional West Melbourne retail property, located at 1600 S Wickham Road, 32904, presents a unique investment opportunity. The single-story, 1,699 sq ft building sits on a 0.44-acre lot (17,859.6 sq ft), built in 1985. Currently operating as a charming Italian restaurant, the property features a recently remodeled interior with elegant marble countertop tables, new AC units, and a new walk-in cooler. An additional 0.33-acre parcel is available for expansion, offering potential for increased parking or other business enhancements. The inviting space also includes a 164 sq ft open porch, ideal for outdoor dining. A robust security system is in place. The current tenant pays a base rent of $3,000 plus NNN. This property is situated in a high-traffic area of West Melbourne, Florida, making it an attractive investment for both established and aspiring business owners. The asking price is $1,000,000.
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE (W/FUEL PUMP)
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,500 SF
Lot
0.92 ac (40,075 SF)
Zoning code
BU-1
APN
27-36-13-00-00750.0-0000.00
UPID
US18-5498167
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
-
Mimmo's Pizza Ristorante Restaurant
-
Petro Star Investments Llc Financial Advisor
-
bp Car Wash
-
LibertyX Bitcoin ATM Atm
-
ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.18M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$860k
Blend (final)
Blend
$1.27M
Owner & transaction history
A2 Developmebnt Company LLC · 2 yrs held
A2 Developmebnt Company LLC
since 2023
Last sale
$1.5M
5 recorded transactions
Zoning & alternative use
BU-1 · 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
$1,185,000
ML approach
$1,180,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.27M
Range $1.14M – $1.39M · ±10% · vs last sale $1.55M (Jul 26 2023)
Last sale anchor
$1.55M
Jul 26 2023
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
$843 / 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
$8,800
Tax year 2023
Assessed value
$716,360
Assessed 2023
Previous assessed
$716,360
+0.0% YoY
Effective rate
1.23%
On assessed value
Assessed land
$440,000
Assessed improvement
$276,360
Land market value
$440,000
Improvement market value
$276,360
Total market value
$716,360
Applied tax rate
5,300.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE (W/FUEL PUMP)
Status
Off-Market
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
1,500 SF
Lot
0.92 ac (40,075 SF)
Zoning code
BU-1
APN
27-36-13-00-00750.0-0000.00
UPID
US18-5498167
Jurisdiction
BREVARD
Zoning & alternative use
BU-1 · Melbourne, FL
Zoning BU-1 · permitted uses
BU-1 · 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
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
0.92 ac
Current owner
From public records · entity-resolved
A2 Developmebnt Company LLC
Entity
Mailing address
370 S CAMINO GDNS BLVD, BOCA RATON, FL 33432-5816
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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
Jul 26, 2023
$1,546,000
A2 Developmebnt Company LLC
Petro Star Investments LLC
Special Warranty Deed
—
Jul 26, 2023
$3,428,600
Richard M Stern
A2 Development Company LLC
Warranty Deed
$2,400,000 · Clearview FCU
Sep 17, 2008
$1,050,000
Petro Star Investments LLC
Nik-tej INC
Warranty Deed
$958,969 · Rbc Bank (usa)
Aug 5, 2004
$1,027,285
Nik-tej INC
Petroplus America LLC
Warranty Deed
$822,800 · Petroplus America LLC
—
—
Nik-tej INC
—
Deed Of Trust
related
$975,000 · Indian River National 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.
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