1900 Dairy Rd West Melbourne, FL 32904-4046
Entity Owned
12-yr Hold
Free & Clear
Estimated value (blended)
$3.54M
Range $3.19M – $3.89M (±10%)
Property ID
US18-5919759
Property summary
AI-generated overview
Oakwood Square, located at 1900-1970 Dairy Rd, West Melbourne, FL 32904, offers versatile office space for lease. This three-building complex, totaling 46,884 square feet, features a variety of unit sizes, ranging from 1,545 to 2,184 contiguous square feet, with a total of 3,729 square feet currently vacant. The property sits on a 4.4-acre lot and is classified as a Class B building constructed in 1985. The single-story buildings offer ample parking. The property is zoned City of West Melbourne Commercial New Haven (C-NH) in Brevard County and is conveniently located in the Space Coast submarket, providing easy access to Melbourne, Palm Bay, beaches, and surrounding areas via Interstate 95, US 192, and US 1. The property boasts a variety of configurations, suitable for both open spaces and multi-office setups. Recent improvements include all roofs replaced in 2016, buildings painted in 2018, and parking lot resurfacing in 2022. The property is suitable for traditional, executive, medical, and creative office uses, as well as light retail. Base rent starts at $15 per square foot, NNN, plus an estimated $2.57 per square foot for CAM. The APN is 28-37-05-00-18.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
CONCRETE
Total area
16,952 SF
Lot
4.4 ac (191,664 SF)
Zoning code
C1
APN
28-37-05-00-00018.0-0000.00
UPID
US18-5919759
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.79M
Comparable Approach
Comparable
$4.23M
Blend (final)
Blend
$3.54M
Owner & transaction history
since 2014
3 recorded transactions
Zoning & alternative use
C1 · West Melbourne, FL
Top alternative use upside
Commercial (general)
$5.3M
+52.8%
Auto repair, garage
$3.8M
+10.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 6 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$3.54M
Value range
$3.19M – $3.89M
±10% around blend
Estimated value / SF
$209 / SF
Confidence
High
6 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
60
$3.19M
blend $3.54M
$3.89M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
16,952 SF
Lot area
4.4 ac
Year built
1985
Stories
1
APN
28-37-05-00-00018.0-0000.00
Assessed value
$2,583,120
Annual tax
$45,332
3
Income approach: direct capitalization
Partial preview
Income approach indication
$3.79M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$4.10M
@ 6.5% CAP return
$3.79M
@ 7% CAP return
$3.52M
4
Sales comparison
Partial preview
Sales approach indication
$5.58M
Weighted, 6 comps · high confidence
Evidence
6 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
3.7 mi away · 19,155 SF
6.9 mi away · 14,091 SF
14.2 mi away · 12,663 SF
21.8 mi away · 18,730 SF
22.1 mi away · 14,138 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$3.54M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 17 sales
$203
+3%
County 529 sales
$189
+11%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $209/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+53%
vs current-use indication
Auto Repair, Garage
Office Building · current use
Retail Stores
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 6 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.58M
Move the market yield to see immediate price impact.
Value / SF
$152
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$163k
$3.25M
$2.32M
$1.81M
$181k
$3.62M
$2.58M
$2.01M
$199k
$3.98M
$2.84M
$2.21M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
6 found
High confidence · county-verified
Closest comparable
$8.43M
3.7 mi · Jan 2026 · $440/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$45,332
Tax year 2023
Assessed value
$2,583,120
Assessed 2023
Previous assessed
$2,543,660
+1.6% YoY
Effective rate
1.75%
On assessed value
Assessed land
$503,200
Assessed improvement
$2,079,920
Land market value
$503,200
Improvement market value
$2,079,920
Total market value
$2,583,120
Applied tax rate
52.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1985
Construction
CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Buildings
3
Stories
1
Units
9
Total area
16,952 SF
Lot
4.4 ac (191,664 SF)
Zoning code
C1
APN
28-37-05-00-00018.0-0000.00
UPID
US18-5919759
Jurisdiction
BREVARD
Zoning & alternative use
C1 · West Melbourne, FLZoning C1 · permitted uses
C1 · West Melbourne, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1985
Construction
CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
3
Units
9
Lot
4.4 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
C1
Jurisdiction
West Melbourne, FL
Recorded code
C1
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for C1 in West Melbourne, FL.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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