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Property profile & analytics
OFF-MARKET
Estimated value
$4,150,000
Warehouses
2885 Electronics Dr Melbourne, FL 32935-2162
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US19-0769890
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
21,091 SF
Lot
2.95 ac (128,502 SF)
Zoning code
M2
APN
27-37-18-00-00269.0-0000.00
UPID
US19-0769890
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
-
All About Automotive LLC Auto Repair Shop
-
American Safety Products Building Supply General Contractor
-
Dro’s Barbershop Barber Shop
-
Crystal Clean Blinds (Bike/Boat/Book/etc) Store Home Decor Store
-
Bay Space - Electronics Drive Business Park
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.15M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.28M
Blend (final)
Blend
$4.15M
Owner & transaction history
Electronics Melbourne Owner LLC · 3 yrs held
Electronics Melbourne Owner LLC
since 2022
Last sale
$4.1M
7 recorded transactions
Zoning & alternative use
M2 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.5M
+139.8%
Office building
$5.9M
+114.8%
Auto repair, garage
$4.7M
+73.0%
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
$4,245,000
ML approach
$4,150,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,725,000
Current use
COMMERCIAL (GENERAL)
$6,530,000
Change: +140% · Conversion: Difficult
OFFICE BUILDING
$5,850,000
Change: +115% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,715,000
Change: +73% · Conversion: Easy
MEDICAL BUILDING
$3,375,000
Change: +24% · Conversion: Difficult
RETAIL STORES
$3,080,000
Change: +13% · Conversion: Moderate
Blend value · Realmo final
$4.15M
Range $3.74M – $4.57M · ±10% · vs last sale $4.10M (Nov 23 2022)
Last sale anchor
$4.10M
Nov 23 2022
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
$197 / 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
$45,302
Tax year 2023
Assessed value
$2,006,690
Assessed 2023
Previous assessed
$1,909,230
+5.1% YoY
Effective rate
2.26%
On assessed value
Assessed land
$329,980
Assessed improvement
$1,676,710
Land market value
$329,980
Improvement market value
$1,676,710
Total market value
$2,006,690
Applied tax rate
43.0000
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Buildings
3
Stories
1
Units
20
Total area
21,091 SF
Lot
2.95 ac (128,502 SF)
Zoning code
M2
APN
27-37-18-00-00269.0-0000.00
UPID
US19-0769890
Jurisdiction
BREVARD
Zoning & alternative use
M2 · Melbourne, FL
Zoning M2 · permitted uses
M2 · 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
WAREHOUSE, STORAGE Current
Est. value
$2.7M
COMMERCIAL (GENERAL)
Est. value
$6.5M
OFFICE BUILDING
Est. value
$5.9M
AUTO REPAIR, GARAGE
Est. value
$4.7M
MEDICAL BUILDING
Est. value
$3.4M
RETAIL STORES
Est. value
$3.1M
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1988
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Units
20
Lot
2.95 ac
Current owner
From public records · entity-resolved
Electronics Melbourne Owner LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2801 SW 31ST AVE STE 2B, COCONUT GROVE, FL 33133-3540
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 23, 2022
$4,100,000
Electronics Melbourne Owner LLC
Boozer Properties LLC
Warranty Deed
—
Jul 30, 2014
$1,250,000
Boozer Properties LLC
Commerce Center Melbourne LLC
Warranty Deed
—
Dec 28, 2006
—
Melbourne Commerce Center LLC
Markogiannakis,pantelis
Warranty Deed
—
Dec 28, 2006
$1,875,000
Commerce Center Melbourne LLC
Melbourne Commerce Center LLC
Warranty Deed
$1,406,250 · Sovereign Bank
Mar 24, 2000
$1,160,000
Melbourne Commerce Center
Maren Realty INC
Grant Deed
$535,000 · Seller
Jun 1, 1985
$663,000
Self Strge Melbourne
Bsf,realty Co
Warranty Deed
related
$255,438
—
—
Commerce Center Melbourne LLC
—
Deed Of Trust
related
$1,245,439 · Sovereign 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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