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Property profile & analytics
OFF-MARKET
Estimated value
$610,000
Office buildings
1885 Aurora Rd Melbourne, FL 32935-4159
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-3255690
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1945
Construction
WOOD
Total area
1,836 SF
Lot
1 ac (43,560 SF)
Zoning code
BU-2
APN
27-37-17-50-0000A.0-0003.00
UPID
US18-3255690
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
-
OTD! OUT THE DOOR! Cars and Carts Car Dealership
-
EV-1 Cart Co Golf Cart Dealer
-
Brevard All Season Lawn Care, LLC Landscaping
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$580k
CAP Approach
CAP
$410k
Comparable Approach
Comparable
$605k
Blend (final)
Blend
$610k
Owner & transaction history
1885 Aurora LLC · 2 yrs held
1885 Aurora LLC
since 2023
Last sale
$625,000
6 recorded transactions
Zoning & alternative use
BU-2 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$570,000
+11.6%
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
$630,000
ML approach
$580,000
CAP Approach
CAP Return
Estimation
6%
$445,000
6.5%
$410,000
7%
$380,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$510,000
Current use
COMMERCIAL (GENERAL)
$570,000
Change: +12% · Conversion: Easy
AUTO REPAIR, GARAGE
$410,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$610k
Range $549k – $671k · ±10% · vs last sale $625k (Oct 6 2023)
Last sale anchor
$625k
Oct 6 2023
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
$332 / 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
$3,791
Tax year 2023
Assessed value
$245,240
Assessed 2023
Previous assessed
$243,490
+0.7% YoY
Effective rate
1.55%
On assessed value
Assessed land
$222,920
Assessed improvement
$22,320
Land market value
$222,920
Improvement market value
$22,320
Total market value
$245,240
Applied tax rate
4,200.0000
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
1945
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
1,836 SF
Lot
1 ac (43,560 SF)
Zoning code
BU-2
APN
27-37-17-50-0000A.0-0003.00
UPID
US18-3255690
Jurisdiction
BREVARD
Zoning & alternative use
BU-2 · Melbourne, FL
Zoning BU-2 · permitted uses
BU-2 · 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
OFFICE BUILDING Current
Est. value
$510,000
COMMERCIAL (GENERAL)
Est. value
$570,000
AUTO REPAIR, GARAGE
Est. value
$410,000
OFFICE BUILDING Current
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
1945
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
1 ac
Current owner
From public records · entity-resolved
1885 Aurora LLC
Entity
Free & Clear · 2 yrs held
Mailing address
5266 INDIGO XING DR, ROCKLEDGE, FL 32955-6052
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 6, 2023
$450,000
1885 Aurora LLC
Grace Savage
Warranty Deed
—
Aug 26, 2019
$100
Albert,j Bosco Trust
Bosco,albert
Warranty Deed
related
—
Sep 10, 2018
—
Albert Bosco
Bosco,albert J & Amy D
Quit Claim Deed
related
—
Jan 19, 2018
$118,526
Albert J Bosco
Improte Stephen J
Warranty Deed
—
Apr 6, 2010
—
Albert J Bosco
Bosco,albert J
Quit Claim Deed
related
—
Nov 19, 2004
—
Stephen J Improte
Improte,stephen J & Maryann
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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