Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Strip malls
2261 New Hvn Ave West Melbourne, FL 32904-3805
Entity Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-5902647
Property summary
AI-generated overview
This exceptional investment opportunity presents a thriving Woody's Bar-B-Q franchise located at 2261 W New Haven Ave, West Melbourne, FL 32904. The property, situated on a sizable 10.3-acre lot, boasts a prime end-cap location within a Publix-anchored shopping center on heavily trafficked Highway 192. The single-story building, constructed in 1984, offers 4,000 square feet of well-maintained space. This established business has enjoyed nine years of successful operation, and the sale includes all furniture, fixtures, and equipment (FF&E). The asking price for this turnkey operation is $299,000. This represents a rare chance to acquire a profitable, established restaurant with significant growth potential in a high-traffic area. The property's size and location within a well-established shopping center provide excellent visibility and accessibility for customers. This is an ideal opportunity for an experienced restaurateur or investor seeking a proven business model in a desirable market. The property is located in Brevard County, Florida.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,800 SF
Lot
10.3 ac (448,668 SF)
Zoning code
CP
APN
28-37-06-00-00755.0-0000.00
UPID
US18-5902647
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
$575k
Comparable Approach
Comparable
$612k
Blend (final)
Blend
$580k
Owner & transaction history
Windover Station LLC · 10 yrs held
Windover Station LLC
since 2015
2 recorded transactions
Zoning & alternative use
CP · West Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$865,000
+126.2%
Auto repair, garage
$625,000
+63.2%
Office building
$570,000
+48.1%
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%
$620,000
6.5%
$575,000
7%
$535,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$385,000
Current use
COMMERCIAL (GENERAL)
$865,000
Change: +126% · Conversion: Easy
AUTO REPAIR, GARAGE
$625,000
Change: +63% · Conversion: Difficult
OFFICE BUILDING
$570,000
Change: +48% · Conversion: Moderate
RETAIL STORES
$480,000
Change: +25% · Conversion: Easy
MEDICAL BUILDING
$450,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$580k
Range $522k – $638k · ±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
$207 / 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
$144,799
Tax year 2023
Assessed value
$8,322,280
Assessed 2023
Previous assessed
$8,243,660
+1.0% YoY
Effective rate
1.74%
On assessed value
Assessed land
$3,026,920
Assessed improvement
$5,295,360
Land market value
$3,026,920
Improvement market value
$5,295,360
Total market value
$8,322,280
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
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Buildings
3
Stories
1
Units
2
Total area
2,800 SF
Lot
10.3 ac (448,668 SF)
Zoning code
CP
APN
28-37-06-00-00755.0-0000.00
UPID
US18-5902647
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
$385,000
COMMERCIAL (GENERAL)
Est. value
$865,000
AUTO REPAIR, GARAGE
Est. value
$625,000
OFFICE BUILDING
Est. value
$570,000
RETAIL STORES
Est. value
$480,000
MEDICAL BUILDING
Est. value
$450,000
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
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
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
3
Units
2
Lot
10.3 ac
Current owner
From public records · entity-resolved
Windover Station LLC
Entity
Free & Clear · 10 yrs held
Mailing address
11501 NORTHLAKE DR, CINCINNATI, OH 45249-1669
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 4, 2015
$18,000,000
Windover Station LLC
Pmat Melbourne LLC
Grant Deed
—
Oct 10, 2005
$8,100,000
Pmat Melbourne LLC
Eastern Retail Holdings LP
Special Warranty Deed
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2261 New Hvn Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
