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Property profile & analytics
OFF-MARKET
Estimated value
$1,325,680,000
Medical Office Space
229 Sebastian Blvd Sebastian, FL 32958-4616
Individually Owned
24-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-0504255
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,834 SF
Lot
0.39 ac (16,988 SF)
Zoning code
C-512
APN
31-38-12-00004-4850-00005.0
UPID
US18-0504255
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
-
Edward R Blecker PA Medical Clinic
-
Edgar R. Blecker, MD, PA Physician
-
River Blossom Wellness Counselor Mental Health Service
-
Rachel Sobek Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.44B
Blend (final)
Blend
$1.33B
Owner & transaction history
Edgar Blecker · 24 yrs held
Edgar Blecker
since 2002
1 recorded transaction
Zoning & alternative use
C-512 · Sebastian, 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 Sebastian submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sebastian 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
Blend value · Realmo final
$1.33B
Range $1.19B – $1.46B · ±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
$345,769 / 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
$7,809
Tax year 2023
Assessed value
$422,774
Assessed 2023
Previous assessed
$425,396
-0.6% YoY
Effective rate
1.85%
On assessed value
Assessed land
$79,419
Assessed improvement
$343,355
Land market value
$79,419
Improvement market value
$343,355
Total market value
$422,774
Applied tax rate
2.0000
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
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
2
Total area
3,834 SF
Lot
0.39 ac (16,988 SF)
Zoning code
C-512
APN
31-38-12-00004-4850-00005.0
UPID
US18-0504255
Jurisdiction
INDIAN RIVER
Zoning & alternative use
C-512 · Sebastian, FL
Zoning C-512 · permitted uses
C-512 · Sebastian, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sebastian. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
2
Lot
0.39 ac
Current owner
From public records · entity-resolved
Edgar Blecker
Individual
Free & Clear · 24 yrs held
Mailing address
739 HOLDEN AVE, SEBASTIAN, FL 32958-5043
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 1, 2002
$48,000
Edgar Blecker
Sardo,thomas & Eleanor
Grant 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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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