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Property profile & analytics
OFF-MARKET
Estimated value
$865,000
Medical Office Space
2600 New Hvn Ave, West Melbourne, FL 32904-3702
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-0174784
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1952
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,429 SF
Lot
0.61 ac (26,572 SF)
Zoning code
CP
APN
28-37-06-00-00267.0-0000.00
UPID
US18-0174784
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
$865k
CAP Approach
CAP
$860k
Comparable Approach
Comparable
$575k
Blend (final)
Blend
$865k
Owner & transaction history
Salty Veterinary Enterprises LLC · 2 yrs held
Salty Veterinary Enterprises LLC
since 2024
Last sale
$865,000
6 recorded transactions
Zoning & alternative use
CP · West Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.4M
+93.5%
Auto repair, garage
$990,000
+39.6%
Office building
$900,000
+26.7%
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
$865,000
ML approach
$865,000
CAP Approach
CAP Return
Estimation
6%
$930,000
6.5%
$860,000
7%
$795,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$710,000
Current use
COMMERCIAL (GENERAL)
$1,370,000
Change: +94% · Conversion: Easy
AUTO REPAIR, GARAGE
$990,000
Change: +40% · Conversion: Difficult
OFFICE BUILDING
$900,000
Change: +27% · Conversion: Easy
RETAIL STORES
$760,000
Change: +7% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$605,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$865k
Range $779k – $952k · ±10% · vs last sale $865k (Mar 18 2024)
Last sale anchor
$865k
Mar 18 2024
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
$195 / 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
$9,189
Tax year 2023
Assessed value
$614,720
Assessed 2023
Previous assessed
$614,720
+0.0% YoY
Effective rate
1.49%
On assessed value
Assessed land
$316,800
Assessed improvement
$297,920
Land market value
$316,800
Improvement market value
$297,920
Total market value
$614,720
Applied tax rate
52.0000
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
1952
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
4,429 SF
Lot
0.61 ac (26,572 SF)
Zoning code
CP
APN
28-37-06-00-00267.0-0000.00
UPID
US18-0174784
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
MEDICAL BUILDING Current
Est. value
$710,000
COMMERCIAL (GENERAL)
Est. value
$1.4M
AUTO REPAIR, GARAGE
Est. value
$990,000
OFFICE BUILDING
Est. value
$900,000
RETAIL STORES
Est. value
$760,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$605,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1952
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
0.61 ac
Current owner
From public records · entity-resolved
Salty Veterinary Enterprises LLC
Entity
Mailing address
107 DELAND AVE, INDIALANTIC, FL 32903-3501
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2024
$865,000
Salty Veterinary Enterprises LLC
Welton Property Management LLC
Warranty Deed
$1,384,000 · Td Bank NA
Jun 20, 2019
—
Welton Property Management LLC
—
Deed
related
$315,000 · Zb NA
Oct 25, 2013
—
Td Bk NA
Blevins,frank & Sharon Coc
Trustees Deed
related
—
Sep 11, 2013
—
Azeem Baksh
Baksh,azeem
Quit Claim Deed
related
—
Aug 8, 2005
$500,000
Roger L Welton
Constance M Mannes
Warranty Deed
$475,800 · Wachovia Sba Lending INC
—
—
Welton Property Management LLC
—
Deed Of Trust
related
—
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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