Back to Search
Property profile & analytics
OFF-MARKET
Commercial land
311 Ocean Ave 5 Melbourne Beach, FL 32951-2574
Entity Owned
5-yr Hold
Free & Clear
Property ID
US18-2989622
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1947
Construction
WOOD FRAME
Total area
2,159 SF
Lot
0.25 ac (10,890 SF)
Zoning code
6B
APN
28-38-08-FY-00003.0-0006.00
UPID
US18-2989622
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
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Blue Ocean Three LLC · 5 yrs held
Blue Ocean Three LLC
since 2021
Last sale
$300,000
6 recorded transactions
Zoning & alternative use
6B · Melbourne Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
gle-Family Residential District 7A-32 2-RS Single-Family Residential District 7A-33 3-RS Single-Family Residential District 7A-34 4-RM Multi-Family Residential District 7A-35 5-RMO Oceanfront Multi-Family District 7A-36 6-B Downtown Business District 7A-37 7-C General Commercial District 7A-38 8-B Residential-Business Zone 7A-39 9-I Institutional District 7A…
Zone name
Downtown Business
General category
COMMERCIAL
Zone area
13.02 ac
Source
CHAPTER 7A: ZONING
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 Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Melbourne Beach 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$1,990
Tax year 2023
Assessed value
$130,500
Assessed 2023
Previous assessed
$130,500
+0.0% YoY
Effective rate
1.52%
On assessed value
Assessed land
$130,500
Land market value
$130,500
Total market value
$130,500
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1947
Construction
WOOD FRAME
Heating
YES
Cooling
YES
Stories
2
Total area
2,159 SF
Lot
0.25 ac (10,890 SF)
Zoning code
6B
APN
28-38-08-FY-00003.0-0006.00
UPID
US18-2989622
Jurisdiction
BREVARD
Zoning & alternative use
6B · Melbourne Beach, FLZoning 6B · permitted uses
6B · Melbourne Beach, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
gle-Family Residential District 7A-32 2-RS Single-Family Residential District 7A-33 3-RS Single-Family Residential District 7A-34 4-RM Multi-Family Residential District 7A-35 5-RMO Oceanfront Multi-Family District 7A-36 6-B Downtown Business District 7A-37 7-C General Commercial District 7A-38 8-B Residential-Business Zone 7A-39 9-I Institutional District 7A-40 Churches, temples, places of worship, libraries, museums and schools in Residen
Zone name
Downtown Business
General category
COMMERCIAL
Zone area
13.02 ac
Source
CHAPTER 7A: ZONING
Building & site characteristics
From public records
Year built
1947
Construction
WOOD FRAME
Heating
YES
Cooling
Yes
Stories
2
Lot
0.25 ac
Current owner
From public records · entity-resolved
Blue Ocean Three LLC
Entity
Free & Clear · 5 yrs held
Mailing address
1508 PNE ST, MELBOURNE BEACH, FL 32951-2642
Ownership since
2021
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
Jul 7, 2021
$300,000
Blue Ocean Three LLC
Bnc Management LLC
Warranty Deed
—
Apr 25, 2018
$399,900
Bcn Management LLC
Lane,glen C
Warranty Deed
—
Oct 3, 2016
$325,000
Glen C Lane
Ocean Melbourne LLC
Warranty Deed
$290,000 · Private Individual
Dec 4, 2015
$280,000
Ocean Melbourne LLC
Claflin,patricia C
Warranty Deed
—
Oct 3, 2008
—
Patricia C Claflin
Claflin,patricia C
Quit Claim Deed
related
—
—
—
Robert E Maier
—
Deed Of Trust
related
$102,000 · 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 311 Ocean Ave, Unit 5?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
