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Property profile & analytics
OFF-MARKET
Estimated value
$2,210,000
Strip malls
3150 Babcock St Melbourne, FL 32901-6974
Entity Owned
17-yr Hold
Free & Clear
Property ID
US18-0516359
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
20,204 SF
Lot
1.2 ac (52,272 SF)
Zoning code
CC1
APN
28-37-09-00-00750.0-0000.00
UPID
US18-0516359
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
-
Sunrise Center Florida Tech University Academic Department
-
Holzer Health Center Hospital
-
Youthful Woman (Bike/Boat/Book/etc) Store Cosmetic Store
-
Alternative Connection Tattoo & Piercing Shop
-
Luxo Consulting Marketing & Advertising (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.75M
Blend (final)
Blend
$2.21M
Owner & transaction history
Florida Inst Of Technology INC · 17 yrs held
Florida Inst Of Technology INC
since 2009
2 recorded transactions
Zoning & alternative use
CC1 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.5M
+27.6%
Retail stores
$3.5M
+25.3%
Medical building
$3.2M
+16.9%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,765,000
Current use
OFFICE BUILDING
$3,530,000
Change: +28% · Conversion: Moderate
RETAIL STORES
$3,465,000
Change: +25% · Conversion: Easy
MEDICAL BUILDING
$3,235,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$2.21M
Range $1.99M – $2.43M · ±10%
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
$109 / 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
$3,945
Tax year 2023
Assessed value
$1,634,780
Assessed 2023
Previous assessed
$1,622,000
+0.8% YoY
Effective rate
0.24%
On assessed value
Assessed land
$429,000
Assessed improvement
$1,205,780
Land market value
$429,000
Improvement market value
$1,205,780
Total market value
$1,634,780
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Units
19
Total area
20,204 SF
Lot
1.2 ac (52,272 SF)
Zoning code
CC1
APN
28-37-09-00-00750.0-0000.00
UPID
US18-0516359
Jurisdiction
BREVARD
Zoning & alternative use
CC1 · Melbourne, FL
Zoning CC1 · permitted uses
CC1 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.8M
OFFICE BUILDING
Est. value
$3.5M
RETAIL STORES
Est. value
$3.5M
MEDICAL BUILDING
Est. value
$3.2M
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
RETAIL STORES
MEDICAL 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
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
19
Lot
1.2 ac
Current owner
From public records · entity-resolved
Florida Inst Of Technology INC
Entity
Free & Clear · 17 yrs held
Mailing address
150 W UNIVERSITY BLVD, MELBOURNE, FL 32901-8995
Ownership since
2009
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
Feb 13, 2009
$2,250,000
Florida Inst Of Technology INC
Fu Hwa INC
Warranty Deed
—
—
—
Florida Inst Of Technology INC
—
Deed Of Trust
related
$1,680,000 · Bankfirst
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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