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Property profile & analytics
OFF-MARKET
Estimated value
$965,000
Office buildings
223 Willard St, Cocoa, FL 32922-8015
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-2431211
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1902
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,822 SF
Lot
0.33 ac (14,375 SF)
Zoning code
CBD
APN
24-36-33-35-00000.0-0001.02
UPID
US18-2431211
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
-
Counseling in Brevard Crisis Center Medical Clinic
-
Barfield Contracting & Assoc., INC Roofing Company General Contractor
-
Scalawag water sports (Bike/Boat/Book/etc) Store
-
Neighborhood Garage Doors Building Supply General Contractor
-
Barvite roofing inc Roofing Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$955k
CAP Approach
CAP
$1.30M
Comparable Approach
Comparable
$986k
Blend (final)
Blend
$965k
Owner & transaction history
Maggie Realty LLC · 4 yrs held
Maggie Realty LLC
since 2021
Last sale
$735,000
7 recorded transactions
Zoning & alternative use
CBD · Cocoa, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$905,000
+2.3%
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 Cocoa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cocoa 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
$1,130,000
ML approach
$955,000
CAP Approach
CAP Return
Estimation
6%
$1,410,000
6.5%
$1,300,000
7%
$1,205,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$885,000
Current use
MEDICAL BUILDING
$905,000
Change: +2% · Conversion: Easy
AUTO REPAIR, GARAGE
$750,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±10% · vs last sale $735k (Oct 8 2021)
Last sale anchor
$735k
Oct 8 2021
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
$166 / 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
$13,621
Tax year 2023
Assessed value
$609,580
Assessed 2023
Previous assessed
$568,850
+7.2% YoY
Effective rate
2.23%
On assessed value
Assessed land
$106,880
Assessed improvement
$502,700
Land market value
$106,880
Improvement market value
$502,700
Total market value
$609,580
Applied tax rate
23.0000
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
1902
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
1
Units
7
Total area
5,822 SF
Lot
0.33 ac (14,375 SF)
Zoning code
CBD
APN
24-36-33-35-00000.0-0001.02
UPID
US18-2431211
Jurisdiction
BREVARD
Zoning & alternative use
CBD · Cocoa, FL
Zoning CBD · permitted uses
CBD · Cocoa, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cocoa. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$885,000
MEDICAL BUILDING
Est. value
$905,000
AUTO REPAIR, GARAGE
Est. value
$750,000
OFFICE BUILDING Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1902
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Units
7
Lot
0.33 ac
Current owner
From public records · entity-resolved
Maggie Realty LLC
Entity
Mailing address
137 S COURTENAY PKWY #830, MERRITT ISLAND, FL 32952-4843
Ownership since
2021
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
Oct 8, 2021
$735,000
Maggie Realty LLC
Kevin A Barfield
Warranty Deed
$254,849 · South State Bank National Associati
Nov 27, 2019
—
Barfield Family Trust
Kevin A Barfield
Quit Claim Deed
related
—
Feb 1, 2017
$660,000
Kevin Barfield
334 West 46th Street LLC
Warranty Deed
$610,000 · Private Individual
May 20, 2004
$490,000
334 West 46th Street LLC
220 King Street LLC
Warranty Deed
—
Mar 29, 2002
$350,000
220 King Street LLC
Jason INC
Grant Deed
—
Aug 2, 2001
$200,000
Jason INC
Tate,bruce
Grant Deed
$160,000 · Public Bank
—
—
Bruce Tate
—
Deed Of Trust
related
$20,000 · Individual
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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