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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Office buildings
2198 Harris NE Ave Palm Bay, FL 32905-4002
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US18-2833794
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,670 SF
Lot
0.72 ac (31,363 SF)
Zoning code
CC
APN
28-37-22-FN-00002.0-0001.00
UPID
US18-2833794
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
$360k
CAP Approach
CAP
$595k
Comparable Approach
Comparable
$534k
Blend (final)
Blend
$540k
Owner & transaction history
2198 Harris Avenue LLC · 6 yrs held
2198 Harris Avenue LLC
since 2019
3 recorded transactions
Zoning & alternative use
CC · Palm Bay, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this district is to permit the development of commercial activities which offer a wide range of goods and services to the surrounding community primarily located at or near the intersection of arterial roadways.
Zone name
Community Commercial
General category
COMMERCIAL
Zone area
1,035.88 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$825,000
+104.8%
Auto repair, garage
$595,000
+47.8%
Retail stores
$460,000
+13.5%
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 Palm Bay submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palm Bay 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
$360,000
CAP Approach
CAP Return
Estimation
6%
$645,000
6.5%
$595,000
7%
$555,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$405,000
Current use
COMMERCIAL (GENERAL)
$825,000
Change: +105% · Conversion: Easy
AUTO REPAIR, GARAGE
$595,000
Change: +48% · Conversion: Difficult
RETAIL STORES
$460,000
Change: +13% · Conversion: Moderate
MEDICAL BUILDING
$425,000
Change: +6% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$365,000
Change: -9% · Conversion: Difficult
WAREHOUSE, STORAGE
$345,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$540k
Range $486k – $594k · ±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
$202 / 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
$5,888
Tax year 2023
Assessed value
$329,140
Assessed 2023
Previous assessed
$269,960
+21.9% YoY
Effective rate
1.79%
On assessed value
Assessed land
$181,310
Assessed improvement
$147,830
Land market value
$181,310
Improvement market value
$147,830
Total market value
$329,140
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
2,670 SF
Lot
0.72 ac (31,363 SF)
Zoning code
CC
APN
28-37-22-FN-00002.0-0001.00
UPID
US18-2833794
Jurisdiction
BREVARD
Zoning & alternative use
CC · Palm Bay, FLZoning CC · permitted uses
CC · Palm Bay, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of this district is to permit the development of commercial activities which offer a wide range of goods and services to the surrounding community primarily located at or near the intersection of arterial roadways.
Zone name
Community Commercial
General category
COMMERCIAL
Zone area
1,035.88 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$405,000
COMMERCIAL (GENERAL)
Est. value
$825,000
AUTO REPAIR, GARAGE
Est. value
$595,000
RETAIL STORES
Est. value
$460,000
MEDICAL BUILDING
Est. value
$425,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$365,000
WAREHOUSE, STORAGE
Est. value
$345,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
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
1982
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
0.72 ac
Current owner
From public records · entity-resolved
2198 Harris Avenue LLC
Entity
Mailing address
13306 LACEBARK PNE RD, ORLANDO, FL 32832-6577
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 22, 2019
$17,400
2198 Harris Avenue LLC
John C Ball
Quit Claim Deed
related
—
May 7, 2002
$195,000
John C Ball
Olde Property Corp
Grant Deed
—
—
—
John C Ball
—
Deed Of Trust
related
$115,000 · Suntrust 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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