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Property profile & analytics
OFF-MARKET
Estimated value
$3,885,000
Automotive properties
24 Hbr City Blvd Melbourne, FL 32935-6760
Entity Owned
16-yr Hold
Free & Clear
Property ID
US18-4826969
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
21,283 SF
Lot
7.62 ac (331,927 SF)
Zoning code
C2
APN
27-37-27-28-00000.0-0001.00
UPID
US18-4826969
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
-
Platinumwerks Collision Center Auto Repair Shop
-
Toyota of Melbourne Car Dealership
-
Toyota Parts Auto Parts Store
-
A Lexus Certified Collision Center Auto Repair Shop
-
Toyota of Melbourne Service Center Auto Repair Shop Vehicle Inspection Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.48M
Blend (final)
Blend
$3.89M
Owner & transaction history
Tt Of Brevard INC · 16 yrs held
Tt Of Brevard INC
since 2010
5 recorded transactions
Zoning & alternative use
C2 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$5.9M
+24.1%
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 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
AUTO REPAIR, GARAGE
$4,755,000
Current use
OFFICE BUILDING
$5,905,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$3.89M
Range $3.50M – $4.27M · ±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
$183 / 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
$67,192
Tax year 2023
Assessed value
$3,600,770
Assessed 2023
Previous assessed
$3,517,430
+2.4% YoY
Effective rate
1.87%
On assessed value
Assessed land
$1,419,710
Assessed improvement
$2,181,060
Land market value
$1,419,710
Improvement market value
$2,181,060
Total market value
$3,600,770
Applied tax rate
53.0000
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Buildings
2
Stories
2
Units
1
Total area
21,283 SF
Lot
7.62 ac (331,927 SF)
Zoning code
C2
APN
27-37-27-28-00000.0-0001.00
UPID
US18-4826969
Jurisdiction
BREVARD
Zoning & alternative use
C2 · Melbourne, FL
Zoning C2 · permitted uses
C2 · 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
AUTO REPAIR, GARAGE Current
Est. value
$4.8M
OFFICE BUILDING
Est. value
$5.9M
AUTO REPAIR, GARAGE Current
OFFICE 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
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Buildings
2
Units
1
Lot
7.62 ac
Current owner
From public records · entity-resolved
Tt Of Brevard INC
Entity
Free & Clear · 16 yrs held
Mailing address
505 S FLAGLER DR STE #700, WEST PALM BEACH, FL 33401-5946
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 28, 2011
—
Tt Of Brevard INC
—
Deed Of Trust
related
$50,000,000 · Bank Of America
Jun 8, 2010
$6,558,400
Tt Of Brevard INC
Tt Of Melbourne INC
Grant Deed
—
Jun 8, 2010
—
Tt Of Brevard INC
—
Deed Of Trust
related
$23,790,000 · Bank Of America
Feb 19, 2009
—
Tt Of Brevard INC
—
Deed Of Trust
related
$13,260,000 · Bank Of America
May 11, 2006
$18,000,000
Tt Of Brevard INC
Buchanan Farms INC
Grant Deed
$18,000,000 · Bank Of America
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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