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Property profile & analytics
OFF-MARKET
Estimated value
$4,305,000
Office buildings
1835 Patrick Dr, Indian Harbour Beach, FL 32937-4326
Entity Owned
10-yr Hold
Free & Clear
Property ID
US18-6709674
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2022
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
16,537 SF
Lot
3.13 ac (136,343 SF)
Zoning code
B1
APN
27-37-11-00-00253.0-0000.00
UPID
US18-6709674
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
$3.70M
Comparable Approach
Comparable
$4.92M
Blend (final)
Blend
$4.31M
Owner & transaction history
City Of Indian Harbour Beach · 10 yrs held
City Of Indian Harbour Beach
since 2016
4 recorded transactions
Zoning & alternative use
B1 · Indian Harbour Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.3M
+74.8%
Commercial (general)
$5.1M
+41.6%
Auto repair, garage
$3.7M
+2.2%
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 Indian Harbour Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Indian Harbour Beach 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%
$4,000,000
6.5%
$3,695,000
7%
$3,430,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,615,000
Current use
RESTAURANT
$6,320,000
Change: +75% · Conversion: Moderate
COMMERCIAL (GENERAL)
$5,120,000
Change: +42% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,695,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$4.31M
Range $3.87M – $4.74M · ±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
$260 / 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
$537
Tax year 2023
Assessed value
$3,573,140
Assessed 2023
Previous assessed
$1,430,060
+149.9% YoY
Effective rate
0.02%
On assessed value
Assessed land
$1,430,060
Assessed improvement
$2,143,080
Land market value
$1,430,060
Improvement market value
$2,143,080
Total market value
$3,573,140
Applied tax rate
41.0000
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
2022
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
16,537 SF
Lot
3.13 ac (136,343 SF)
Zoning code
B1
APN
27-37-11-00-00253.0-0000.00
UPID
US18-6709674
Jurisdiction
BREVARD
Zoning & alternative use
B1 · Indian Harbour Beach, FL
Zoning B1 · permitted uses
B1 · Indian Harbour Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Indian Harbour Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.6M
RESTAURANT
Est. value
$6.3M
COMMERCIAL (GENERAL)
Est. value
$5.1M
AUTO REPAIR, GARAGE
Est. value
$3.7M
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2022
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
3.13 ac
Current owner
From public records · entity-resolved
City Of Indian Harbour Beach
Entity
Free & Clear · 10 yrs held
Mailing address
2055 S PATRICK DR, INDIAN HARBOUR BEACH, FL 32937-4447
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 24, 2016
$495,000
City Of Indian Harbour Beach
Webber Richard B
Grant Deed
—
Jun 24, 2016
—
Richard B Webber
Makar,wasfi A & Vivian E
Quit Claim Deed
related
—
Apr 5, 2012
—
Wasfi A Makar
—
Deed Of Trust
related
$2,000,000 · Hli Invs & Funding-fund 1 LLC
Nov 9, 1999
$150,000
Gleason Brothers & Co
Isabelle L Gleason Estate
Quit Claim Deed
related
—
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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