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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Medical Office Space
333 Sheridan Rd Melbourne, FL 32901-3152
Entity Owned
6-yr Hold
Free & Clear
Property ID
US18-4780217
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,956 SF
Lot
0.41 ac (17,860 SF)
Zoning code
RP
APN
27-37-34-51-00000.0-0345.00
UPID
US18-4780217
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
-
Melbourne Dermatology Physician Medical Clinic
-
Hornell Stephen MD Physician Medical Clinic
-
Melbourne Dermatology Center | Dr. Adam H. Wiener DO, FAOCD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$682k
Blend (final)
Blend
$590k
Owner & transaction history
Pine Oak Sher LLC · 6 yrs held
Pine Oak Sher LLC
since 2020
2 recorded transactions
Zoning & alternative use
RP · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$865,000
+9.2%
Retail stores
$850,000
+7.2%
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
MEDICAL BUILDING
$795,000
Current use
OFFICE BUILDING
$865,000
Change: +9% · Conversion: Easy
RETAIL STORES
$850,000
Change: +7% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$680,000
Change: -14% · Conversion: Difficult
WAREHOUSE, STORAGE
$640,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$590k
Range $531k – $649k · ±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
$119 / 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
$10,802
Tax year 2023
Assessed value
$596,330
Assessed 2023
Previous assessed
$596,330
+0.0% YoY
Effective rate
1.81%
On assessed value
Assessed land
$225,000
Assessed improvement
$371,330
Land market value
$225,000
Improvement market value
$371,330
Total market value
$596,330
Applied tax rate
53.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
2
Total area
4,956 SF
Lot
0.41 ac (17,860 SF)
Zoning code
RP
APN
27-37-34-51-00000.0-0345.00
UPID
US18-4780217
Jurisdiction
BREVARD
Zoning & alternative use
RP · Melbourne, FL
Zoning RP · permitted uses
RP · 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
MEDICAL BUILDING Current
Est. value
$795,000
OFFICE BUILDING
Est. value
$865,000
RETAIL STORES
Est. value
$850,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$680,000
WAREHOUSE, STORAGE
Est. value
$640,000
MEDICAL BUILDING Current
OFFICE BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
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
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
2
Lot
0.41 ac
Current owner
From public records · entity-resolved
Pine Oak Sher LLC
Entity
Free & Clear · 6 yrs held
Mailing address
333 SHERIDAN RD, MELBOURNE, FL 32901-3152
Mailing matches property
Yes
Owner-occupied
Yes
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
May 1, 2020
$750,000
Pine Oak Sher LLC
Stephen H Hornell
Warranty Deed
—
Apr 2, 2010
—
Hornell Stephen H & P K Trust
Hornell,stephen H & Pamela K
Quit Claim Deed
related
—
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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