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Property profile & analytics
OFF-MARKET
Estimated value
$675,000
Warehouses
2003 Hughes Rd, Melbourne, FL 32935-2126
Individually Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-4184539
Property profile
Verified
Property type
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Year built
1986
Construction
FRAME
Total area
7,400 SF
Lot
1.06 ac (46,174 SF)
Zoning code
M2
APN
27-37-18-00-00283.0-0000.00
UPID
US18-4184539
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
$785k
Comparable Approach
Comparable
$724k
Blend (final)
Blend
$675k
Owner & transaction history
Mead L Buckley · 19 yrs held
Mead L Buckley
since 2007
1 recorded transaction
Zoning & alternative use
M2 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.1M
+13.1%
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%
$850,000
6.5%
$785,000
7%
$730,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$955,000
Current use
RETAIL STORES
$1,080,000
Change: +13% · Conversion: Moderate
Blend value · Realmo final
$675k
Range $608k – $743k · ±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
$91 / 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
$7,010
Tax year 2023
Assessed value
$442,420
Assessed 2023
Previous assessed
$415,890
+6.4% YoY
Effective rate
1.58%
On assessed value
Assessed land
$127,460
Assessed improvement
$314,960
Land market value
$127,460
Improvement market value
$314,960
Total market value
$442,420
Applied tax rate
43.0000
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
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Status
Off-Market
Year built
1986
Construction
FRAME
Heating
NONE
Cooling
NONE
Stories
1
Units
2
Total area
7,400 SF
Lot
1.06 ac (46,174 SF)
Zoning code
M2
APN
27-37-18-00-00283.0-0000.00
UPID
US18-4184539
Jurisdiction
BREVARD
Zoning & alternative use
M2 · Melbourne, FL
Zoning M2 · permitted uses
M2 · 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
WAREHOUSE, STORAGE Current
Est. value
$955,000
RETAIL STORES
Est. value
$1.1M
WAREHOUSE, STORAGE Current
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
1986
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
1
Units
2
Lot
1.06 ac
Current owner
From public records · entity-resolved
Mead L Buckley
Individual
Mailing address
7633 HELEN ST, MELBOURNE, FL 32904-6538
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 15, 2007
$536,500
Mead L Buckley
Taylor Homer R Trust
Grant Deed
$171,000 · Taylor Homer R Trust (tr)
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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