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Property profile & analytics
OFF-MARKET
Estimated value
$2,935,000
Strip malls
1891 Patrick Dr Indian Harbour Beach, FL 32937-4377
Entity Owned
Free & Clear
Property ID
US18-0283980
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
27,057 SF
Lot
1.46 ac (63,598 SF)
Zoning code
B1
APN
27-37-11-00-00280.0-0000.00
UPID
US18-0283980
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
$2.16M
Blend (final)
Blend
$2.94M
Owner & transaction history
1873 S Patrick LLC
1873 S Patrick LLC
since 2025
Last sale
$4.1M
6 recorded transactions
Zoning & alternative use
B1 · Indian Harbour Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.6M
+25.3%
Medical building
$4.3M
+16.9%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$3,705,000
Current use
RETAIL STORES
$4,640,000
Change: +25% · Conversion: Easy
MEDICAL BUILDING
$4,330,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$2.94M
Range $2.64M – $3.23M · ±10% · vs last sale $4.10M (Jun 2 2025)
Last sale anchor
$4.10M
Jun 2 2025
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
$108 / 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
$25,221
Tax year 2023
Assessed value
$1,576,120
Assessed 2023
Previous assessed
$1,505,510
+4.7% YoY
Effective rate
1.60%
On assessed value
Assessed land
$669,380
Assessed improvement
$906,740
Land market value
$669,380
Improvement market value
$906,740
Total market value
$1,576,120
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
21
Total area
27,057 SF
Lot
1.46 ac (63,598 SF)
Zoning code
B1
APN
27-37-11-00-00280.0-0000.00
UPID
US18-0283980
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$3.7M
RETAIL STORES
Est. value
$4.6M
MEDICAL BUILDING
Est. value
$4.3M
NEIGHBORHOOD: SHOPPING CENTER Current
RETAIL STORES
MEDICAL 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
1963
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
21
Lot
1.46 ac
Current owner
From public records · entity-resolved
1873 S Patrick LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 690146, VERO BEACH, FL 32969-0146
Ownership since
2025
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
Sep 2, 2025
$4,100,000
1873 S Patrick LLC
Deatra Farmer
Warranty Deed
—
Jul 1, 2016
—
Deatra Farmer
Mcguire,deatra
Quit Claim Deed
related
—
Feb 2, 2006
—
Keck C G Tr
Culbertson,kathryn J
Quit Claim Deed
related
—
Feb 2, 2006
$1,350,000
Deatra L Mcguire
Arbogast,m H
Warranty Deed
$1,012,500 · Florida Business Bank
—
—
Deatra L Mcguire
—
Deed Of Trust
related
$796,852 · Florida Business Bank
—
—
Beachside Doubles INC
—
Deed Of Trust
related
$1,531 · Florida Business Bank
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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