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Property profile & analytics
OFF-MARKET
Estimated value
$4,515,000
Retail space
3090 New Hvn Ave West Melbourne, FL 32904-3658
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US18-3875017
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
15,360 SF
Lot
0.96 ac (41,818 SF)
Zoning code
C1
APN
28-36-01-01-00000.0-000A.01
UPID
US18-3875017
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
$4.46M
CAP Approach
CAP
$2.73M
Comparable Approach
Comparable
$3.00M
Blend (final)
Blend
$4.52M
Owner & transaction history
Wba Portfolio Owner Fund IV Galaxy · 6 yrs held
Wba Portfolio Owner Fund IV Galaxy
since 2020
Last sale
$5.3M
2 recorded transactions
Zoning & alternative use
C1 · West Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Zoning
Top alternative use upside
Restaurant
$5.9M
+122.7%
Commercial (general)
$4.8M
+80.5%
Auto repair, garage
$3.4M
+30.3%
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
$4,530,000
ML approach
$4,455,000
CAP Approach
CAP Return
Estimation
6%
$2,950,000
6.5%
$2,725,000
7%
$2,530,000
Alternative Use
Use
Estimation
RESTAURANT
$5,870,000
Change: +123% · Conversion: Easy
COMMERCIAL (GENERAL)
$4,755,000
Change: +80% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,430,000
Change: +30% · Conversion: Difficult
OFFICE BUILDING
$3,115,000
Change: +18% · Conversion: Easy
Blend value · Realmo final
$4.52M
Range $4.06M – $4.97M · ±10% · vs last sale $5.29M (Aug 4 2020)
Last sale anchor
$5.29M
Aug 4 2020
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
$294 / 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
$27,729
Tax year 2023
Assessed value
$1,738,630
Assessed 2023
Previous assessed
$1,714,650
+1.4% YoY
Effective rate
1.59%
On assessed value
Assessed land
$502,730
Assessed improvement
$1,235,900
Land market value
$502,730
Improvement market value
$1,235,900
Total market value
$1,738,630
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
15,360 SF
Lot
0.96 ac (41,818 SF)
Zoning code
C1
APN
28-36-01-01-00000.0-000A.01
UPID
US18-3875017
Jurisdiction
BREVARD
Zoning & alternative use
C1 · West Melbourne, FLZoning 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
Source
Zoning
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$5.9M
COMMERCIAL (GENERAL)
Est. value
$4.8M
AUTO REPAIR, GARAGE
Est. value
$3.4M
OFFICE BUILDING
Est. value
$3.1M
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
0.96 ac
Current owner
From public records · entity-resolved
Wba Portfolio Owner Fund IV Galaxy
Entity
Mailing address
125 S WACKER DR STE #1220, CHICAGO, IL 60606-4430
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 4, 2020
$5,292,900
Wba Portfolio Owner Fund IV Galaxy
Walgreen Co
Special Warranty Deed
$225,000,000 · Goldman Sachs Bank USA
Oct 3, 2008
$106,250
Brevard County Florida
Walgreen
Warranty Deed
—
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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