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Property profile & analytics
OFF-MARKET
Office buildings
1605 Monterey NE Dr Palm Bay, FL 32905-2315
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-5985175
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
980 SF
Lot
13.77 ac (599,821 SF)
Zoning code
RM20
APN
28-37-22-00-00258.0-0000.00
UPID
US18-5985175
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Pavilions Property Owner LLC · 4 yrs held
Pavilions Property Owner LLC
since 2021
Last sale
$31.5M
7 recorded transactions
Zoning & alternative use
RM20 · Palm Bay, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$469,710
Tax year 2023
Assessed value
$24,647,330
Assessed 2023
Previous assessed
$27,900,450
-11.7% YoY
Effective rate
1.91%
On assessed value
Assessed land
$2,272,050
Assessed improvement
$22,375,280
Land market value
$2,272,050
Improvement market value
$22,375,280
Total market value
$24,647,330
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
Status
Off-Market
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
20
Stories
1
Units
1
Total area
980 SF
Lot
13.77 ac (599,821 SF)
Zoning code
RM20
APN
28-37-22-00-00258.0-0000.00
UPID
US18-5985175
Jurisdiction
BREVARD
Zoning & alternative use
RM20 · Palm Bay, FL
Zoning RM20 · permitted uses
RM20 · Palm Bay, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palm Bay. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1985
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
20
Units
1
Lot
13.77 ac
Current owner
From public records · entity-resolved
Pavilions Property Owner LLC
Entity
Mailing address
201 E 42ND ST RM #1810, NEW YORK, NY 10017-5746
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 4, 2021
$31,500,000
Pavilions Property Owner LLC
The Pavilions At Monterey LLC
Special Warranty Deed
$29,950 · Synovus Bank
Jan 30, 2020
—
Pavilions At Monterey LLC
—
Deed
related
$20,960,000 · Greystone Fndg
Jul 14, 2017
—
Pavilions At Monterey LLC
Pavilions Manor Six LLC
Quit Claim Deed
related
—
Apr 19, 2011
—
Cam Landings At Palm Bay LLC
Blue Valley Apartments INC
Grant Deed
—
Aug 13, 2010
—
Blue Valley Apartments INC
Landings Palm Bay Assocs Coc
Trustees Deed
related
—
May 3, 2006
$12,250,000
Landings Palm Bay Assocs LLC
Msrh Palm Bay LLC
Grant Deed
—
Jan 20, 2004
$6,260,000
Msrh Palm Bay LLC
Crm Bk Co Partners LLC
Grant Deed
$6,300,000 · Gmac Commercial Mortgage Corp
—
—
Landings Palm Bay Assocs LLC
—
Deed Of Trust
related
$9,760,000 · Bulls Capital Partners LLC
—
—
Pavilions At Monterey LLC
—
Loan Modification
related
$20,960,000 · Greystone Fndg
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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