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Property profile & analytics
OFF-MARKET
Estimated value
$2,470,000
Strip malls
1851 Palm Bay Rd Ne Ste 1a Palm Bay, FL 32905-2923
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US18-4755486
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
21,584 SF
Lot
2.2 ac (95,832 SF)
Zoning code
CC
APN
28-37-22-00-00261.0-0000.00
UPID
US18-4755486
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
$3.37M
Blend (final)
Blend
$2.47M
Owner & transaction history
Palm Bay Village Inv LLC · 18 yrs held
Palm Bay Village Inv LLC
since 2008
7 recorded transactions
Zoning & alternative use
CC · Palm Bay, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3.7M
+25.3%
Medical building
$3.5M
+16.9%
Office building
$3.3M
+10.4%
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
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
NEIGHBORHOOD: SHOPPING CENTER
$2,955,000
Current use
RETAIL STORES
$3,705,000
Change: +25% · Conversion: Easy
MEDICAL BUILDING
$3,455,000
Change: +17% · Conversion: Difficult
OFFICE BUILDING
$3,265,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$2.47M
Range $2.22M – $2.72M · ±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
$114 / 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
$27,512
Tax year 2023
Assessed value
$1,646,350
Assessed 2023
Previous assessed
$1,225,680
+34.3% YoY
Effective rate
1.67%
On assessed value
Assessed land
$526,220
Assessed improvement
$1,120,130
Land market value
$526,220
Improvement market value
$1,120,130
Total market value
$1,646,350
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
10
Total area
21,584 SF
Lot
2.2 ac (95,832 SF)
Zoning code
CC
APN
28-37-22-00-00261.0-0000.00
UPID
US18-4755486
Jurisdiction
BREVARD
Zoning & alternative use
CC · Palm Bay, FL
Zoning CC · permitted uses
CC · 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.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$3.0M
RETAIL STORES
Est. value
$3.7M
MEDICAL BUILDING
Est. value
$3.5M
OFFICE BUILDING
Est. value
$3.3M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
MEDICAL BUILDING
OFFICE BUILDING
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
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
10
Lot
2.2 ac
Current owner
From public records · entity-resolved
Palm Bay Village Inv LLC
Entity
Mailing address
3332 WESTMORELAND DR, TAMPA, FL 33618-2161
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 6, 2026
—
Ld Outdoor Assetco LLC
—
Deed
related
$196,000 · Wilmington Trust NA
Feb 14, 2020
—
Palm Bay Vlg Invs LLC
—
Deed
related
$1,481,250 · Gte Fin'l
Apr 12, 2019
—
Palm Bay Village Investment LLC
—
Deed
related
$150,000 · Central Bank
Jun 19, 2008
$1,425,000
Palm Bay Village Inv LLC
Rugby Associates Lllp
Warranty Deed
$1,300,000 · Central Bank & Trust
Feb 6, 2003
$925,000
Rugby Associates Lllp
Palm B C V
Grant Deed
—
—
—
Rugby Associates Lllp
—
Deed Of Trust
related
$1,000,000 · Citibank Fsb
—
—
Palm Bay Vlg Invs LLC
—
Deed Of Trust
related
$1,481,250 · Gte Fin'l
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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