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Property profile & analytics
OFF-MARKET
Estimated value
$1,285,000
Medical Office Space
1706 Berglund Ln, Melbourne, FL 32940-6474
Entity Owned
8-yr Hold
Free & Clear
Property ID
US18-6441388
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,894 SF
Lot
2.01 ac (87,556 SF)
Zoning code
BU-1
APN
25-36-34-00-00510.0-0000.00
UPID
US18-6441388
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
-
Dr. Hong S. Jeong, MD Physician
-
Viera Heart & Vascular Clinic Medical Clinic
-
Danielle Mcdonough Physician
-
Hong S. Viera Heart And Vascular Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.29M
Owner & transaction history
Cureplex LLC · 8 yrs held
Cureplex LLC
since 2017
5 recorded transactions
Zoning & alternative use
BU-1 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.7M
+7.2%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,585,000
Current use
RETAIL STORES
$1,695,000
Change: +7% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,355,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$1.29M
Range $1.16M – $1.41M · ±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
$130 / 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
$36,738
Tax year 2023
Assessed value
$2,326,550
Assessed 2023
Previous assessed
$2,036,260
+14.3% YoY
Effective rate
1.58%
On assessed value
Assessed land
$612,500
Assessed improvement
$1,714,050
Land market value
$612,500
Improvement market value
$1,714,050
Total market value
$2,326,550
Applied tax rate
430.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Units
3
Total area
9,894 SF
Lot
2.01 ac (87,556 SF)
Zoning code
BU-1
APN
25-36-34-00-00510.0-0000.00
UPID
US18-6441388
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.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.6M
RETAIL STORES
Est. value
$1.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.4M
MEDICAL BUILDING Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Units
3
Lot
2.01 ac
Current owner
From public records · entity-resolved
Cureplex LLC
Entity
Free & Clear · 8 yrs held
Mailing address
1706 BERGLUND LN, MELBOURNE, FL 32940-6474
Ownership since
2017
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
Jan 10, 2019
—
Cureplex LLC
—
Deed
related
$2,338,273 · Jpmorgan Chase Bank NA
Dec 11, 2017
$450,000
Cureplex LLC
Td Bk NA
Grant Deed
—
Nov 17, 2010
$790,000
Td Bk NA
Riverside Natl Bk Of Fl
Quit Claim Deed
related
—
Oct 20, 2005
$872,100
Riverside Natl Bk Of Florida
App Ptshp
Warranty Deed
—
Jun 24, 2004
$750,000
Ptshp App
Viera
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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