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Property profile & analytics
OFF-MARKET
Estimated value
$805,000
Medical Office Space
215 Cone Rd Merritt Island, FL 32952-3114
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US18-4843635
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,405 SF
Lot
0.75 ac (32,670 SF)
Zoning code
BU2
APN
25-36-02-34-00000.0-0008.00
UPID
US18-4843635
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
Current use
Occupant on record · Public records
-
Pancito Fe MD Physician Medical Clinic
-
Vantage Oncology Affiliated Centers Physician
-
Rahul Chopra, MD Medical Clinic
-
Todd Panarese, MD Medical Clinic
-
Dr. Silas J. Charles, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.05M
Comparable Approach
Comparable
$565k
Blend (final)
Blend
$805k
Owner & transaction history
215 Cone Road Owner LLC · 7 yrs held
215 Cone Road Owner LLC
since 2019
7 recorded transactions
Zoning & alternative use
BU2 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.3M
+52.7%
Auto repair, garage
$1.1M
+34.3%
Office building
$920,000
+9.9%
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 Merritt Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Merritt Island 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%
$1,135,000
6.5%
$1,045,000
7%
$970,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$840,000
Current use
COMMERCIAL (GENERAL)
$1,280,000
Change: +53% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,125,000
Change: +34% · Conversion: Difficult
OFFICE BUILDING
$920,000
Change: +10% · Conversion: Easy
RETAIL STORES
$870,000
Change: +4% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$745,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$805k
Range $725k – $886k · ±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
$149 / 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
$20,536
Tax year 2023
Assessed value
$1,497,050
Assessed 2023
Previous assessed
$1,421,450
+5.3% YoY
Effective rate
1.37%
On assessed value
Assessed land
$98,470
Assessed improvement
$1,398,580
Land market value
$98,470
Improvement market value
$1,398,580
Total market value
$1,497,050
Applied tax rate
2,200.0000
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
Medical Office Space
Use group
DENTAL BUILDING
Status
Off-Market
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
1
Units
1
Total area
5,405 SF
Lot
0.75 ac (32,670 SF)
Zoning code
BU2
APN
25-36-02-34-00000.0-0008.00
UPID
US18-4843635
Jurisdiction
BREVARD
Zoning & alternative use
BU2 · Merritt Island, FLZoning BU2 · permitted uses
BU2 · Merritt Island, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$840,000
COMMERCIAL (GENERAL)
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.1M
OFFICE BUILDING
Est. value
$920,000
RETAIL STORES
Est. value
$870,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$745,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
0.75 ac
Current owner
From public records · entity-resolved
215 Cone Road Owner LLC
Entity
Mailing address
4280 GALT OCEAN DR APT 25D, FORT LAUDERDALE, FL 33308-6153
Ownership since
2019
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
Mar 5, 2019
$1,960,000
215 Cone Road Owner LLC
Pts Of Brevard County INC
Special Warranty Deed
$1,078,000 · Trustone Financial FCU
Aug 15, 2018
—
Pts Of Brevard County INC
—
Deed
related
$250,000 · Seacoast Nat'l Bk
May 1, 2017
—
Pts Of Brevard County INC
—
Loan Modification
related
$2,942,319 · Seacoast Nat'l Bk
Jun 14, 2016
—
Pts Of Brevard County INC
—
Deed
related
$2,146,401 · Seacoast Nat'l Bk
—
—
Pts Of Brevard County INC
—
Deed Of Trust
related
$131,000 · First National Bank Central Fl
—
—
Pts Of Brevard County INC
—
Loan Modification
related
$2,146,401 · Seacoast Nat'l Bk
—
—
Pts Of Brevard County INC
—
Deed Of Trust
related
$250,000 · Seacoast Nat'l 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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