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Property profile & analytics
OFF-MARKET
Estimated value
$1,770,000
Industrial properties
275 Magnolia Ave Merritt Island, FL 32952-4820
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US18-1841378
Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,380 SF
Lot
0.55 ac (23,958 SF)
Zoning code
BU1
APN
24-36-35-31-0000K.0-0008.00
UPID
US18-1841378
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
-
PIP Printing (Bike/Boat/Book/etc) Store Printing Service
-
My Absolute Pilates II Gym & Fitness Center
-
Olney Patricia Law Firm
-
Tangles On The Island Hair Salon Hair Salon
-
Marlin Funding Group Inc Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.03M
Comparable Approach
Comparable
$1.74M
Blend (final)
Blend
$1.77M
Owner & transaction history
Alexandra M V Bobinski · 6 yrs held
Alexandra M V Bobinski
since 2019
6 recorded transactions
Zoning & alternative use
BU1 · Merritt Island, 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 Merritt Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Merritt Island 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%
$2,200,000
6.5%
$2,030,000
7%
$1,885,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,695,000
Current use
AUTO REPAIR, GARAGE
$2,375,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$1.77M
Range $1.59M – $1.95M · ±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
$156 / 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
$11,221
Tax year 2023
Assessed value
$574,360
Assessed 2023
Previous assessed
$569,240
+0.9% YoY
Effective rate
1.95%
On assessed value
Assessed land
$79,200
Assessed improvement
$495,160
Land market value
$79,200
Improvement market value
$495,160
Total market value
$574,360
Applied tax rate
2,200.0000
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
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Status
Off-Market
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Units
12
Total area
11,380 SF
Lot
0.55 ac (23,958 SF)
Zoning code
BU1
APN
24-36-35-31-0000K.0-0008.00
UPID
US18-1841378
Jurisdiction
BREVARD
Zoning & alternative use
BU1 · Merritt Island, FL
Zoning BU1 · permitted uses
BU1 · Merritt Island, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Merritt Island. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.4M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
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
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
12
Lot
0.55 ac
Current owner
From public records · entity-resolved
Alexandra M V Bobinski
Individual
Mailing address
275 MAGNOLIA AVE STE #8, MERRITT ISLAND, FL 32952-4839
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
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
Feb 4, 2026
—
Von B LLC
—
Deed
related
$300,000 · Sunrise Bank
Sep 10, 2020
—
Von B LLC
—
Deed
related
$350,000 · Sunrise Bank
Nov 27, 2019
—
Alexandra M V Bobinski
Starkey Carol J Trust
Quit Claim Deed
—
Sep 24, 2014
—
Starkey,carol J Trust
Starkey,carol J
Quit Claim Deed
related
—
—
—
Carol J Starkey
—
Deed Of Trust
related
$320,000 · Harbor Fsb
—
—
Carol J Starkey
—
Deed Of Trust
related
$150,000 · Harbor Fsb
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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