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Property profile & analytics
OFF-MARKET
Estimated value
$9,650,000
Assisted living facilities
3033 Sarno Rd Melbourne, FL 32934-7229
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US18-3437711
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1994
Construction
WOOD
Total area
61,852 SF
Lot
7.95 ac (346,302 SF)
Zoning code
CP
APN
27-36-24-00-00750.1-0000.00
UPID
US18-3437711
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
-
Melbourne Opco Department Store
-
Marissa Minich Physician
-
Kevin Ramlogan Physician
-
Consulate Helth care Housing Complex
-
nursing and rehabilitation Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.24M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.65M
Owner & transaction history
Thomas Joseph Demarse · 1 yrs held
Thomas Joseph Demarse
since 2025
Last sale
$9.5M
7 recorded transactions
Zoning & alternative use
CP · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$11.6M
+291.4%
Commercial (general)
$11.5M
+289.1%
Restaurant
$8.6M
+188.8%
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
$9,980,000
ML approach
$8,240,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$11,610,000
Change: +291% · Conversion: Difficult
COMMERCIAL (GENERAL)
$11,545,000
Change: +289% · Conversion: Difficult
RESTAURANT
$8,565,000
Change: +189% · Conversion: Difficult
OFFICE BUILDING
$8,210,000
Change: +177% · Conversion: Difficult
WAREHOUSE, STORAGE
$7,855,000
Change: +165% · Conversion: Difficult
RETAIL STORES
$7,280,000
Change: +145% · Conversion: Difficult
AUTO REPAIR, GARAGE
$6,800,000
Change: +129% · Conversion: Difficult
Blend value · Realmo final
$9.65M
Range $8.69M – $10.62M · ±10% · vs last sale $9.48M (Feb 24 2025)
Last sale anchor
$9.48M
Feb 24 2025
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
$90,359
Tax year 2023
Assessed value
$4,448,560
Assessed 2023
Previous assessed
$4,448,560
+0.0% YoY
Effective rate
2.03%
On assessed value
Assessed land
$1,083,530
Assessed improvement
$3,365,030
Land market value
$1,083,530
Improvement market value
$3,365,030
Total market value
$4,448,560
Applied tax rate
53.0000
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
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1994
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
63
Total area
61,852 SF
Lot
7.95 ac (346,302 SF)
Zoning code
CP
APN
27-36-24-00-00750.1-0000.00
UPID
US18-3437711
Jurisdiction
BREVARD
Zoning & alternative use
CP · Melbourne, FL
Zoning CP · permitted uses
CP · 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
INDUSTRIAL (GENERAL)
Est. value
$11.6M
COMMERCIAL (GENERAL)
Est. value
$11.5M
RESTAURANT
Est. value
$8.6M
OFFICE BUILDING
Est. value
$8.2M
WAREHOUSE, STORAGE
Est. value
$7.9M
RETAIL STORES
Est. value
$7.3M
AUTO REPAIR, GARAGE
Est. value
$6.8M
INDUSTRIAL (GENERAL)
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
WAREHOUSE, STORAGE
RETAIL STORES
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
1994
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
63
Lot
7.95 ac
Current owner
From public records · entity-resolved
Thomas Joseph Demarse
Individual
Mailing address
PO BOX 92129, SOUTHLAKE, TX 76092-0102
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 24, 2025
—
Thomas Joseph Demarse
Janice Demarse
Deed
related
—
Jul 19, 2024
—
Crea Melbourne LLC
—
Deed
related
$64,000,000 · Metropolitan Commercial Bank
Feb 10, 2022
$9,481,000
Crea Melbourne LLC
Re Melbourne LLC
Special Warranty Deed
—
Aug 20, 2018
$8,874,000
Re Melbourne LLC
Tandem Health Care Of Florida
Grant Deed
—
Aug 20, 2018
—
Re Melbourne LLC
—
Loan Modification
related
$43,522,026 · Private Individual
Aug 28, 2012
—
Tandem Health Care Of Florida LLC
—
Deed Of Trust
related
$55,938,061 · General Electric Capital Corp
Apr 9, 2009
—
Tandem Health Care LLC
—
Deed Of Trust
related
$385,000,000 · Capitalsource Finance LLC
Aug 16, 2006
—
Re Bayonet Point INC
—
Deed Of Trust
related
$385,000,000 · Capitalsource Finance LLC
—
—
Re Bayonet Point LLC
—
Loan Modification
related
$404,805,963 · Fa-scd Snf Investors I LLC
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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