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Property profile & analytics
OFF-MARKET
Estimated value
$6,420,000
Turn key restaurants
3500 Cheney Hwy, Titusville, FL 32780-2595
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-2001012
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1975
Construction
WOOD
Total area
12,647 SF
Lot
5.06 ac (220,414 SF)
Zoning code
T
APN
22-35-30-AV-00000.0-0031.00
UPID
US18-2001012
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
-
Denny's Restaurant
-
The Meltdown Restaurant
-
Space Coast Hotel Hotel & Motel
-
The Burger Den Restaurant Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.73M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.59M
Blend (final)
Blend
$6.42M
Owner & transaction history
3500 Cheney LLC · 2 yrs held
3500 Cheney LLC
since 2023
Last sale
$6.9M
7 recorded transactions
Zoning & alternative use
T · Titusville, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$6.4M
+48.6%
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 Titusville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Titusville 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
$5,990,000
ML approach
$5,725,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$4,295,000
Current use
APARTMENT HOUSE (5+ UNITS)
$6,385,000
Change: +49% · Conversion: Difficult
Blend value · Realmo final
$6.42M
Range $5.78M – $7.06M · ±10% · vs last sale $6.90M (Aug 25 2023)
Last sale anchor
$6.90M
Aug 25 2023
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
$508 / 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
$85,857
Tax year 2023
Assessed value
$4,184,980
Assessed 2023
Previous assessed
$4,101,970
+2.0% YoY
Effective rate
2.05%
On assessed value
Assessed land
$682,010
Assessed improvement
$3,502,970
Land market value
$682,010
Improvement market value
$3,502,970
Total market value
$4,184,980
Applied tax rate
14.0000
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
1975
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
1
Units
1
Total area
12,647 SF
Lot
5.06 ac (220,414 SF)
Zoning code
T
APN
22-35-30-AV-00000.0-0031.00
UPID
US18-2001012
Jurisdiction
BREVARD
Zoning & alternative use
T · Titusville, FL
Zoning T · permitted uses
T · Titusville, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Titusville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$4.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.4M
RESTAURANT Current
APARTMENT HOUSE (5+ UNITS)
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
1975
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
5.06 ac
Current owner
From public records · entity-resolved
3500 Cheney LLC
Entity
Free & Clear · 2 yrs held
Mailing address
2080 RINGLING BLVD STE #301, SARASOTA, FL 34237-7098
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 25, 2023
$6,900,000
3500 Cheney LLC
T J Hotels LLC
Warranty Deed
—
Oct 21, 2019
$5,500,000
T J Hotels LLC
Shivstar Investments LLC
Grant Deed
$5,000,000 · Incrediblebank
Jun 13, 2012
—
Painter Bay Trust
Presidential Bk Fsb
Grant Deed
—
May 15, 2008
$1,700,000
C & C Auto Wash INC
Tropical Breeze Car Wash Of Titus
Grant Deed
$1,360,000 · Commerce Bank NA
Oct 6, 2004
$4,250,000
Ved Hotels INC
3500
Grant Deed
$3,375,000 · Bank Of St Petersburg
—
—
Shivstar Investments LLC
—
Deed Of Trust
related
$1,405,000 · Harbor Cmnty Bk
—
—
Ved Hotels INC
—
Deed Of Trust
related
$4,300,000 · Presidential Bank Fsb
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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