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Property profile & analytics
FOR LEASE
Strip malls
1874 N Wickham Rd Melbourne, FL 32934
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US18-6004919
For Lease
1 / 2
$6,315,000
1874 N Wickham Rd, Melbourne, FL 32934
View Listing →
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1982
Construction
WOOD
Total area
45,603 SF
Lot
13.24 ac (576,734 SF)
Zoning code
C1
APN
27-36-13-01-00000.0-0021.00
UPID
US18-6004919
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
$4.46M
Blend (final)
Blend
$6.32M
Owner & transaction history
Ats Northgate LLC · 10 yrs held
Ats Northgate LLC
since 2015
3 recorded transactions
Zoning & alternative use
C1 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$10.2M
+63.2%
Medical building
$7.3M
+16.9%
Retail stores
$6.7M
+6.7%
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
NEIGHBORHOOD: SHOPPING CENTER
$6,245,000
Current use
AUTO REPAIR, GARAGE
$10,190,000
Change: +63% · Conversion: Difficult
MEDICAL BUILDING
$7,295,000
Change: +17% · Conversion: Difficult
RETAIL STORES
$6,660,000
Change: +7% · Conversion: Easy
Blend value · Realmo final
$6.32M
Range $5.68M – $6.95M · ±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
$138 / 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
$129,356
Tax year 2023
Assessed value
$6,111,020
Assessed 2023
Previous assessed
$6,100,000
+0.2% YoY
Effective rate
2.12%
On assessed value
Assessed land
$2,594,620
Assessed improvement
$3,516,400
Land market value
$2,594,620
Improvement market value
$3,516,400
Total market value
$6,111,020
Applied tax rate
53.0000
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
For Lease
Year built
1982
Construction
WOOD
Heating
FORCED AIR
Cooling
YES
Buildings
4
Stories
1
Units
16
Total area
45,603 SF
Lot
13.24 ac (576,734 SF)
Zoning code
C1
APN
27-36-13-01-00000.0-0021.00
UPID
US18-6004919
Jurisdiction
BREVARD
Zoning & alternative use
C1 · Melbourne, FL
Zoning C1 · permitted uses
C1 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$6.2M
AUTO REPAIR, GARAGE
Est. value
$10.2M
MEDICAL BUILDING
Est. value
$7.3M
RETAIL STORES
Est. value
$6.7M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1982
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
4
Units
16
Lot
13.24 ac
Current owner
From public records · entity-resolved
Ats Northgate LLC
Entity
Mailing address
PO BOX 56855, JACKSONVILLE, FL 32241-6855
Ownership since
2015
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
Mar 28, 2025
—
Northgate At Melbourne LLC
—
Deed
related
$6,000,000 · Popular Bank
Aug 31, 2015
$7,500,000
Ats Northgate LLC
Benbrooke Northgate Ptrs LLC
Grant Deed
$6,438,750 · Branch Bk&tr
Jan 12, 2005
$6,550,000
Benbrooke Northgate Partners LLC
Kimco Melbourne LLC
Special Warranty Deed
$5,900,000 · Wells Fargo Bank NA
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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