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Property profile & analytics
OFF-MARKET
Estimated value
$25,330,000
Office buildings
2222 Hbr City Blvd Melbourne, FL 32901-5594
Entity Owned
15-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-0602533
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
2009
Construction
CONCRETE
Total area
219,361 SF
Lot
3.63 ac (158,123 SF)
Zoning code
CC3
APN
28-37-02-00-00500.0-0000.00
UPID
US18-0602533
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
-
Etta L. Walters, MA Alternative Medicine Practice Spa & Massage Center
-
Back Center: Dr. Merhab Physician
-
Kalman Arthur D DO Geriatric Care Provider
-
Godefroy Hardy St-Pierre Physician
-
Dr. David H. Todd, DO Alternative Medicine Practice Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$30.70M
Blend (final)
Blend
$25.33M
Owner & transaction history
Crane Creek Mob LLC · 15 yrs held
Crane Creek Mob LLC
since 2011
3 recorded transactions
Zoning & alternative use
CC3 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$38,315,000
Current use
RETAIL STORES
$37,630,000
Change: -2% · Conversion: Moderate
MEDICAL BUILDING
$35,100,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$25.33M
Range $22.80M – $27.86M · ±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
$115 / 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
$375,367
Tax year 2023
Assessed value
$21,048,910
Assessed 2023
Previous assessed
$20,858,680
+0.9% YoY
Effective rate
1.78%
On assessed value
Assessed land
$946,100
Assessed improvement
$20,102,810
Land market value
$946,100
Improvement market value
$20,102,810
Total market value
$21,048,910
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
PROFESSIONAL BUILDING
Status
Off-Market
Year built
2009
Construction
CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
6
Units
6
Total area
219,361 SF
Lot
3.63 ac (158,123 SF)
Zoning code
CC3
APN
28-37-02-00-00500.0-0000.00
UPID
US18-0602533
Jurisdiction
BREVARD
Zoning & alternative use
CC3 · Melbourne, FL
Zoning CC3 · permitted uses
CC3 · 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
OFFICE BUILDING Current
Est. value
$38.3M
RETAIL STORES
Est. value
$37.6M
MEDICAL BUILDING
Est. value
$35.1M
OFFICE BUILDING Current
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
6
Units
6
Lot
3.63 ac
Current owner
From public records · entity-resolved
Crane Creek Mob LLC
Entity
Mailing address
4500 DORR ST, TOLEDO, OH 43615-4040
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
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
Feb 4, 2011
$36,585,000
Crane Creek Mob LLC
Towne Hynes Of Crane Creek LLC
Deed Of Trust
$33,000,000 · General Electric Capital Corp
May 9, 2007
$2,000,000
Towne Hynes Of Crane Creek LLC
Hynes Properties LLC
Warranty Deed
—
Jun 6, 2000
$450,000
Hynes Properties LLC
Schweich,lawrence & Bonita J
Grant Deed
$425,000 · First Union National Bank
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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