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Property profile & analytics
OFF-MARKET
Estimated value
$650,000
Turn key restaurants
315 Ocean Ave Melbourne Beach, FL 32951-2519
Entity Owned
3-yr Hold
Free & Clear
Property ID
US18-3519400
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,193 SF
Lot
0.21 ac (9,148 SF)
Zoning code
6B
APN
28-38-08-FY-00003.0-0005.00
UPID
US18-3519400
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
$600k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$650k
Owner & transaction history
Vuke LLC · 3 yrs held
Vuke LLC
since 2022
Last sale
$670,000
2 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
Method
Estimation
Statistic approach
$660,000
ML approach
$600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$840,000
Current use
COMMERCIAL (GENERAL)
$680,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$650k
Range $585k – $715k · ±10% · vs last sale $670k (Dec 29 2022)
Last sale anchor
$670k
Dec 29 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
$296 / 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
$8,330
Tax year 2023
Assessed value
$527,370
Assessed 2023
Previous assessed
$222,840
+136.7% YoY
Effective rate
1.58%
On assessed value
Assessed land
$130,500
Assessed improvement
$396,870
Land market value
$130,500
Improvement market value
$396,870
Total market value
$527,370
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Rooms
2
Total area
2,193 SF
Lot
0.21 ac (9,148 SF)
Zoning code
6B
APN
28-38-08-FY-00003.0-0005.00
UPID
US18-3519400
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
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$840,000
COMMERCIAL (GENERAL)
Est. value
$680,000
RESTAURANT Current
COMMERCIAL (GENERAL)
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
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Rooms
2
Lot
0.21 ac
Current owner
From public records · entity-resolved
Vuke LLC
Entity
Free & Clear · 3 yrs held
Mailing address
109 CASSEEKEE TRL, MELBOURNE BEACH, FL 32951-3343
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 29, 2022
$670,000
Vuke LLC
Beachside Eats LLC
Warranty Deed
—
May 17, 2018
$325,000
Beachside Eats LLC
Trader,edward L JR & Lynda L
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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