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Property profile & analytics
OFF-MARKET
Estimated value
$20,960,000
Apartment buildings
1615 Flower Mound Ln 1, Cocoa, FL 32922-6332
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-6069323
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2009
Construction
WOOD FRAME
Total area
160,394 SF
Lot
13.34 ac (581,090 SF)
Zoning code
RU-2-10
APN
24-36-30-00-00010.0-0000.00
UPID
US18-6069323
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
$25.26M
Comparable Approach
Comparable
$24.29M
Blend (final)
Blend
$20.96M
Owner & transaction history
Cocoa Leased Housing Associates II · 1 yrs held
Cocoa Leased Housing Associates II
since 2024
Last sale
$19.2M
3 recorded transactions
Zoning & alternative use
RU-2-10 · Cocoa, 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 Cocoa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cocoa 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
$16,900,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$27,365,000
6.5%
$25,260,000
7%
$23,455,000
Blend value · Realmo final
$20.96M
Range $18.86M – $23.06M · ±10% · vs last sale $19.18M (Aug 7 2024)
Last sale anchor
$19.18M
Aug 7 2024
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
$131 / 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
$53,868
Tax year 2023
Assessed value
$5,635,160
Assessed 2023
Previous assessed
$7,329,370
-23.1% YoY
Effective rate
0.96%
On assessed value
Assessed land
$800,400
Assessed improvement
$4,834,760
Land market value
$800,400
Improvement market value
$4,834,760
Total market value
$5,635,160
Applied tax rate
23.0000
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
2009
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
20
Stories
1
Total area
160,394 SF
Lot
13.34 ac (581,090 SF)
Zoning code
RU-2-10
APN
24-36-30-00-00010.0-0000.00
UPID
US18-6069323
Jurisdiction
BREVARD
Zoning & alternative use
RU-2-10 · Cocoa, FL
Zoning RU-2-10 · permitted uses
RU-2-10 · Cocoa, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cocoa. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2009
Construction
WOOD FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
20
Lot
13.34 ac
Current owner
From public records · entity-resolved
Cocoa Leased Housing Associates II
Entity
Mailing address
2905 NWNW BLVD STE #150, MINNEAPOLIS, MN 55441-2644
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 7, 2024
$19,175,000
Cocoa Leased Housing Associates II
Cocoa Leased Housing Associates I L
Special Warranty Deed
$11,675,000 · Walker & Dunlop LLC
Nov 14, 2022
$17,100,000
Cocoa Leased Housing Associates I L
Oak Meadows Limited Partnership
Special Warranty Deed
—
Dec 31, 2007
$2,400,000
Meadows Oak
Frey,wilbur & Joyce
Grant Deed
$10,490,000 · Brevard County Housing Finance
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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