Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1831 Patrick Dr Indian Harbour Beach, FL 32937-4326

    • Retail space
    • 9,301 SF
    • 1.39 lot acres
    OFF-MARKET
    Value Estimations
    $1,465,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-6170419
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 1831 Patrick Dr

    Year built
    2014
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.39 lot acres
    Property size
    9,301 SF
    Property type
    Retail space
    APN
    27-37-11-00-00338.0-0000.00
    APU
    9223372036854775807

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,785,000
      6.5%
      $1,650,000
      7%
      $1,530,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,647,000
      Market price range: $829k - $2.40M
      AI Estimate
      $1,097,000
      Market price range: $452k - $1.54M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,595,000
      Current use
      AUTO REPAIR, GARAGE
      $2,080,000
      Change: +30% Conversion: Difficult
      OFFICE BUILDING
      $2,035,000
      Change: +27% Conversion: Easy
      MEDICAL BUILDING
      $1,490,000
      Change: -7% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Indian Harbour Beach
    County
    Brevard
    State
    Florida
    Longitude
    -80.5998
    Latitude
    28.1554
    CBSA code
    37340
    CBSA name
    PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $18,971
    $635,750
    $483,570
    $1,119,320
    -
    $635,750
    $483,570
    $1,119,320

    Comparable in this City

    • Value Estimation
      $1,515,000
      9,106 SF

      601 Eau Gallie Blvd

      RETAIL STORES (PERSONAL SERVICES) • 9,106 SF
      601 Eau Gallie Blvd, Indian Harbour Beach, FL 32937-4248
      View Details
    • Value Estimation by Request
      1,680 SF

      560 Hwy A1a

      RETAIL STORES (PERSONAL SERVICES) • 1,680 SF
      560 Hwy A1a, Satellite Beach, FL 32937-2346
      View Details
    • Value Estimation by Request
      930 SF

      586 Hwy A1a

      RETAIL STORES (PERSONAL SERVICES) • 930 SF
      586 Hwy A1a, Satellite Beach, FL 32937-2355
      View Details
    • Value Estimation
      $1,075,000
      6,405 SF

      303 Eau Gallie Blvd

      RETAIL STORES (PERSONAL SERVICES) • 6,405 SF
      303 Eau Gallie Blvd, Indian Harbour Beach, FL 32937-4836
      View Details
    • Value Estimation
      $1,900,000
      11,341 SF

      1426 Hwy A1a

      RETAIL STORES (PERSONAL SERVICES) • 11,341 SF
      1426 Hwy A1a, Satellite Beach, FL 32937-5401
      View Details
    • Value Estimation by Request
      780 SF

      588 Hwy A1a

      RETAIL STORES (PERSONAL SERVICES) • 780 SF
      588 Hwy A1a, Satellite Beach, FL 32937-2355
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,029 SF

      Prime Beachside Retail & Fuel Center

      High-traffic C-Store & Gas Station in Satellite Beach, FL
      1904 Patrick Dr, Indian Harbour Beach, FL 32937
      View Details
    • $885,000
      Pending

      Prime Commercial Land in Satellite Beach

      High-visibility commercial site near Port Canaveral with diverse development potential.
      304 Highway A1A, Satellite Beach, FL 32937
      View Details
    • $650,000
      2,220 SF

      Coastal Duplex in Satellite Beach

      Well-maintained duplex near the ocean with strong rental demand.
      517 Jackson Ave, Satellite Beach, FL 32937
      View Details
    • $1,495,000
      1.31 Acres

      Indian Harbour Beach Commercial Land

      1.31-acre commercial parcel in Indian Harbour Beach, Florida.
      201 Mediterranean Way, Indian Harbour Beach, FL 32937
      View Details
    • $275,000
      Pending

      New Warehouses Under Construction

      New warehouse units under construction, completion approximately October 2022.
      102 Tomahawk Dr, Indian Harbour Beach, FL 32937
      View Details
    • $624,000
      Pending

      Renovated Duplex with Income Potential

      Fully renovated duplex in Satellite Beach with income potential.
      525/527 Wilson Ave, Satellite Beach, FL 32937
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,829 SF

      Retail Spaces on Patrick Drive

      Retail spaces available in high-visibility shopping center on Patrick Drive.
      1847 S Patrick Dr, Indian Harbour Beach, FL 32937
      View Details
    • Contact for pricing

      Retail Space on Eau Gallie

      Retail space available on E. Eau Gallie Boulevard.
      961 East Eau Gallie Blvd, Melbourne, FL 32937
      View Details
    • Contact for pricing
      6,000 SF

      Retail Space Near Coastal Activities

      Retail space near beaches with high traffic and local residents.
      243 E Eau Gallie Blvd, Indian Harbour Beach, FL 32937
      View Details
    • $22 SF/Yr
      10,519 SF

      A1A Retail Spaces, Satellite Beach

      High-traffic retail/office suites.
      1324 Florida A1A, Satellite Beach, FL 32937
      View Details
    • $22 SF/Yr
      1,971 SF

      Highway A1A Retail Opportunity

      Prime Retail Space, High Traffic Area
      1324 Highway A1A, Satellite Beach, FL 32937
      View Details
    • $22 SF/Yr
      10,591 SF

      A1A Retail Space, Satellite Beach

      Prime Retail/Office Space, High Traffic Area
      1324 Florida A1A, Satellite Beach, FL 32937
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1831 Patrick Dr
    Indian Harbour Beach, FL 32937-4326
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!