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Property profile & analytics
OFF-MARKET
Estimated value
$4,675,000
Strip malls
205 Palm Bay Rd Ne Ste 135 West Melbourne, FL 32904-8612
Entity Owned
17-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-5914820
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2009
Construction
CONCRETE
Total area
34,080 SF
Lot
17.97 ac (782,773 SF)
Zoning code
CP
APN
28-37-19-01-00000.0-0016.00
UPID
US18-5914820
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
by Request
Blend (final)
Blend
$4.68M
Owner & transaction history
Kohls Department Stores INC · 17 yrs held
Kohls Department Stores INC
since 2008
7 recorded transactions
Zoning & alternative use
CP · West Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$7.6M
+63.2%
Office building
$6.9M
+48.1%
Retail stores
$5.8M
+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 West Melbourne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$4,665,000
Current use
AUTO REPAIR, GARAGE
$7,615,000
Change: +63% · Conversion: Difficult
OFFICE BUILDING
$6,910,000
Change: +48% · Conversion: Moderate
RETAIL STORES
$5,845,000
Change: +25% · Conversion: Easy
MEDICAL BUILDING
$5,455,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$4.68M
Range $4.21M – $5.14M · ±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
$137 / 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
$290,927
Tax year 2023
Assessed value
$19,251,850
Assessed 2023
Previous assessed
$18,982,410
+1.4% YoY
Effective rate
1.51%
On assessed value
Assessed land
$3,068,890
Assessed improvement
$16,182,960
Land market value
$3,068,890
Improvement market value
$16,182,960
Total market value
$19,251,850
Applied tax rate
34.0000
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
2009
Construction
CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Buildings
4
Stories
1
Units
6
Total area
34,080 SF
Lot
17.97 ac (782,773 SF)
Zoning code
CP
APN
28-37-19-01-00000.0-0016.00
UPID
US18-5914820
Jurisdiction
BREVARD
Zoning & alternative use
CP · West Melbourne, FL
Zoning CP · permitted uses
CP · West Melbourne, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Melbourne. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$4.7M
AUTO REPAIR, GARAGE
Est. value
$7.6M
OFFICE BUILDING
Est. value
$6.9M
RETAIL STORES
Est. value
$5.8M
MEDICAL BUILDING
Est. value
$5.5M
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
2009
Construction
CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
4
Units
6
Lot
17.97 ac
Current owner
From public records · entity-resolved
Kohls Department Stores INC
Entity
Free & Clear · 17 yrs held
Mailing address
2030 HAMILTON PL BLVD STE #500, CHATTANOOGA, TN 37421-6000
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2018
—
West Melbourne Town Center LLC
—
Loan Modification
related
$43,346,932 · Us Bk
Nov 17, 2014
—
West Melbourne Town Center LLC
—
Loan Modification
related
$57,825,300 · Us Bk
Nov 14, 2011
—
West Melbourne Town Center LLC
—
Deed Of Trust
related
$42,487,177 · Us Bank NA
Sep 2, 2008
$3,642,900
Kohls Department Stores INC
West Melbourne Town Center LLC
Warranty Deed
—
Aug 14, 2008
—
West Melbourne Town Center LLC
—
Loan Modification
related
$134,200,000 · Us Bk
Nov 16, 2005
—
Norpak Corp
Norpak Corp
Quit Claim Deed
related
—
—
—
West Melbourne Town Center LLC
—
Loan Modification
related
$41,068,000 · Us Bank NA
—
—
West Melbourne Town Center LLC
—
Loan Modification
related
$60,104,232 · Us Bk
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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