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Property profile & analytics
OFF-MARKET
Estimated value
$620,000
Medical Office Space
2795 New Hvn Ave, West Melbourne, FL 32904-3705
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US18-2865291
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1994
Construction
STEEL FRAME
Total area
5,098 SF
Lot
0.51 ac (22,216 SF)
Zoning code
C1
APN
28-37-06-51-00010.0-0001.00
UPID
US18-2865291
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
by Request
Comparable Approach
Comparable
$729k
Blend (final)
Blend
$620k
Owner & transaction history
Kensington Properties LLC · 13 yrs held
Kensington Properties LLC
since 2012
6 recorded transactions
Zoning & alternative use
C1 · West Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.0M
+26.7%
Retail stores
$875,000
+7.2%
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
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
MEDICAL BUILDING
$815,000
Current use
OFFICE BUILDING
$1,035,000
Change: +27% · Conversion: Easy
RETAIL STORES
$875,000
Change: +7% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$700,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$620k
Range $558k – $682k · ±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
$122 / 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
$11,264
Tax year 2023
Assessed value
$780,210
Assessed 2023
Previous assessed
$715,630
+9.0% YoY
Effective rate
1.44%
On assessed value
Assessed land
$288,830
Assessed improvement
$491,380
Land market value
$288,830
Improvement market value
$491,380
Total market value
$780,210
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
Medical Office Space
Use group
DENTAL BUILDING
Status
Off-Market
Year built
1994
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
5,098 SF
Lot
0.51 ac (22,216 SF)
Zoning code
C1
APN
28-37-06-51-00010.0-0001.00
UPID
US18-2865291
Jurisdiction
BREVARD
Zoning & alternative use
C1 · West Melbourne, FL
Zoning C1 · permitted uses
C1 · 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
$815,000
OFFICE BUILDING
Est. value
$1.0M
RETAIL STORES
Est. value
$875,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$700,000
MEDICAL BUILDING Current
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
1994
Construction
STEEL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
0.51 ac
Current owner
From public records · entity-resolved
Kensington Properties LLC
Entity
Mailing address
3457 CAPPIO DR, MELBOURNE, FL 32940-1315
Ownership since
2012
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
Aug 28, 2012
$320,000
Kensington Properties LLC
Routledge,edward F & Andree
Warranty Deed
—
Apr 30, 2003
$350,000
Edward F Routledge
Reed Management Of Brevard INC
Grant Deed
$280,000 · Riverside National Bank Fl
—
—
Edward F Routledge
—
Deed Of Trust
related
$349,366 · Riverside National Bank
—
—
Edward F Routledge
—
Deed Of Trust
related
$25,000 · Riverside National Bank
—
—
Edward F Routledge
—
Deed Of Trust
related
$90,000 · Riverside National Bank
—
—
Edward F Routledge
—
Deed Of Trust
related
$25,000 · Riverside National Bank
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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