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Property profile & analytics
OFF-MARKET
Estimated value
$790,000
Apartment buildings
3241 Babcock St Melbourne, FL 32901
Entity Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-8985458
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2016
Construction
WOOD
Total area
7,516 SF
Lot
2.61 ac (113,692 SF)
Zoning code
CP
APN
28-37-10-00-00501.0-0000.00
UPID
US18-8985458
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
$595k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$598k
Blend (final)
Blend
$790k
Owner & transaction history
Babcock Street LLC · 7 yrs held
Babcock Street LLC
since 2019
6 recorded transactions
Zoning & alternative use
CP · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$595,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$790k
Range $711k – $869k · ±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
$105 / 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
$104,722
Tax year 2023
Assessed value
$5,808,140
Assessed 2023
Previous assessed
$5,808,140
+0.0% YoY
Effective rate
1.80%
On assessed value
Assessed land
$913,500
Assessed improvement
$4,894,640
Land market value
$913,500
Improvement market value
$4,894,640
Total market value
$5,808,140
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
2016
Construction
WOOD
Heating
YES
Cooling
YES
Buildings
6
Stories
3
Units
4
Rooms
6
Total area
7,516 SF
Lot
2.61 ac (113,692 SF)
Zoning code
CP
APN
28-37-10-00-00501.0-0000.00
UPID
US18-8985458
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.
Building & site characteristics
From public records
Year built
2016
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
3
Buildings
6
Units
4
Rooms
6
Lot
2.61 ac
Current owner
From public records · entity-resolved
Babcock Street LLC
Entity
Free & Clear · 7 yrs held
Mailing address
801 N ORANGE AVE STE #518, ORLANDO, FL 32801-5202
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
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
Apr 9, 2019
$100
Babcock Street LLC
Cotorro Properties LLC
Quit Claim Deed
related
—
Mar 11, 2019
$1,650,000
Cotorro Properties LLC
Tdc Realty Brevard LLC
Grant Deed
—
Aug 18, 2017
$750,000
Tdc Reality Brevard LLC
Melbourne Commons LLC
Grant Deed
—
Jan 8, 2016
$1,700,000
Melbourne Commons LLC
Realtrack INC
Warranty Deed
—
Aug 25, 2008
$797,500
Realtrack INC
Sovereign Wj LLC
Grant Deed
—
Jul 6, 2005
$1,871,800
Sovereign Wj LLC
Eaco Corp
Grant Deed
$76,032,000 · Capitalsource Finance 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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