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Property profile & analytics
OFF-MARKET
Estimated value
$7,320,000
Warehouses
2495 Palm Bay NE Rd Palm Bay, FL 32905-3353
Entity Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-6189370
Property profile
Verified
Property type
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Year built
1977
Construction
CONCRETE
Total area
76,380 SF
Lot
5 ac (217,800 SF)
Zoning code
LI
APN
28-37-23-00-00257.0-0000.00
UPID
US18-6189370
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
$8.10M
Comparable Approach
Comparable
$7.01M
Blend (final)
Blend
$7.32M
Owner & transaction history
FLORIDA INSTITUTE TECHNOLOGY INC
FLORIDA INSTITUTE TECHNOLOGY INC
Zoning & alternative use
LI · Palm Bay, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$11.6M
+17.1%
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 Palm Bay submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palm Bay 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%
$8,770,000
6.5%
$8,095,000
7%
$7,520,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$9,865,000
Current use
OFFICE BUILDING
$11,550,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$7.32M
Range $6.59M – $8.05M · ±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
$96 / 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
$537
Tax year 2023
Assessed value
$2,715,370
Assessed 2023
Previous assessed
$2,621,100
+3.6% YoY
Effective rate
0.02%
On assessed value
Assessed land
$239,580
Assessed improvement
$2,475,790
Land market value
$239,580
Improvement market value
$2,475,790
Total market value
$2,715,370
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
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Status
Off-Market
Year built
1977
Construction
CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
2
Units
1
Total area
76,380 SF
Lot
5 ac (217,800 SF)
Zoning code
LI
APN
28-37-23-00-00257.0-0000.00
UPID
US18-6189370
Jurisdiction
BREVARD
Zoning & alternative use
LI · Palm Bay, FL
Zoning LI · permitted uses
LI · Palm Bay, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palm Bay. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$9.9M
OFFICE BUILDING
Est. value
$11.6M
WAREHOUSE, STORAGE 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
1977
Construction
CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
2
Units
1
Lot
5 ac
Current owner
From public records · entity-resolved
FLORIDA INSTITUTE TECHNOLOGY INC
Entity
Free & Clear · 0 yrs held
Mailing address
150 W UNIVERSITY BLVD, MELBOURNE, FL 32901-8995
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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