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Property profile & analytics
OFF-MARKET
Estimated value
$1,140,000
Strip malls
200 Miramar Ave Indialantic, FL 32903-3262
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-2904128
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,130 SF
Lot
0.23 ac (10,019 SF)
Zoning code
C
APN
27-38-31-EO-00028.0-0013.00
UPID
US18-2904128
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
$1.25M
CAP Approach
CAP
$1.46M
Comparable Approach
Comparable
$1.07M
Blend (final)
Blend
$1.14M
Owner & transaction history
Alamiramar LLC · 4 yrs held
Alamiramar LLC
since 2021
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
C · Indialantic, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of a commercial district is to serve as a centralized area for business, retail, and service-related activities. It is designed to support economic growth, foster entrepreneurship, and provide accessible goods and services to the community. Commercial districts aim to create vibrant, walkable environments that attract residents, workers, and visit…
Zone name
Commercial
General category
COMMERCIAL
Zone area
23.93 ac
Source
Realmo
Top alternative use upside
Auto repair, garage
$1.6M
+63.2%
Office building
$1.4M
+46.4%
Retail stores
$1.2M
+25.3%
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 Indialantic submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Indialantic 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
$1,185,000
ML approach
$1,245,000
CAP Approach
CAP Return
Estimation
6%
$1,585,000
6.5%
$1,460,000
7%
$1,355,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$975,000
Current use
AUTO REPAIR, GARAGE
$1,595,000
Change: +63% · Conversion: Difficult
OFFICE BUILDING
$1,430,000
Change: +46% · Conversion: Moderate
RETAIL STORES
$1,225,000
Change: +25% · Conversion: Easy
MEDICAL BUILDING
$1,140,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$1.14M
Range $1.03M – $1.25M · ±10% · vs last sale $1.10M (Aug 26 2021)
Last sale anchor
$1.10M
Aug 26 2021
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
$160 / 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
$16,195
Tax year 2023
Assessed value
$892,430
Assessed 2023
Previous assessed
$842,440
+5.9% YoY
Effective rate
1.81%
On assessed value
Assessed land
$187,500
Assessed improvement
$704,930
Land market value
$187,500
Improvement market value
$704,930
Total market value
$892,430
Applied tax rate
54.0000
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
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Units
3
Total area
7,130 SF
Lot
0.23 ac (10,019 SF)
Zoning code
C
APN
27-38-31-EO-00028.0-0013.00
UPID
US18-2904128
Jurisdiction
BREVARD
Zoning & alternative use
C · Indialantic, FLZoning C · permitted uses
C · Indialantic, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of a commercial district is to serve as a centralized area for business, retail, and service-related activities. It is designed to support economic growth, foster entrepreneurship, and provide accessible goods and services to the community. Commercial districts aim to create vibrant, walkable environments that attract residents, workers, and visitors while encouraging investment and sustainable urban development.
Zone name
Commercial
General category
COMMERCIAL
Zone area
23.93 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$975,000
AUTO REPAIR, GARAGE
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.4M
RETAIL STORES
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
3
Lot
0.23 ac
Current owner
From public records · entity-resolved
Alamiramar LLC
Entity
Mailing address
7707 KIAWAH WAY, MELBOURNE BEACH, FL 32951-3989
Ownership since
2021
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
Aug 26, 2021
$1,100,000
Alamiramar LLC
Margor LLC
Warranty Deed
—
May 30, 2017
—
Margor LLC
Gordon,jennifer
Warranty Deed
related
—
May 8, 2017
—
Jennifer Gordon
Martis,richard D
Quit Claim Deed
related
—
Jul 22, 2009
$55,700
Richard D Martis
Heinze,jacqueline A
Quit Claim Deed
related
—
Jul 2, 2009
—
Record Owner
Heinze,frank D III
Grant Deed
related
—
May 1, 1980
$90,000
Victor Zelazny
Faulkner,homer JR
Warranty Deed
related
—
—
—
Frank D Heinze III
—
Deed Of Trust
related
$120,000 · Wachovia 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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