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Property profile & analytics
OFF-MARKET
Estimated value
$6,220,000
Grocery and convenience stores
3530 Babcock St Melbourne, FL 32901
Entity Owned
22-yr Hold
Free & Clear
Property ID
US18-4969224
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
41,636 SF
Lot
9.17 ac (399,445 SF)
Zoning code
C2
APN
28-37-16-00-00001.0-0000.00
UPID
US18-4969224
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
by Request
CAP Approach
CAP
$7.39M
Comparable Approach
Comparable
$6.92M
Blend (final)
Blend
$6.22M
Owner & transaction history
Wal-mart Stores East LP · 22 yrs held
Wal-mart Stores East LP
since 2003
1 recorded transaction
Zoning & alternative use
C2 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$9.3M
+30.3%
Office building
$7.3M
+1.8%
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%
$8,000,000
6.5%
$7,385,000
7%
$6,855,000
Alternative Use
Use
Estimation
RETAIL STORES
$7,145,000
Current use
AUTO REPAIR, GARAGE
$9,305,000
Change: +30% · Conversion: Difficult
OFFICE BUILDING
$7,275,000
Change: +2% · Conversion: Easy
MEDICAL BUILDING
$6,660,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$6.22M
Range $5.60M – $6.84M · ±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
$149 / 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
$77,071
Tax year 2023
Assessed value
$3,929,990
Assessed 2023
Previous assessed
$3,911,840
+0.5% YoY
Effective rate
1.96%
On assessed value
Assessed land
$2,213,790
Assessed improvement
$1,716,200
Land market value
$2,213,790
Improvement market value
$1,716,200
Total market value
$3,929,990
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
41,636 SF
Lot
9.17 ac (399,445 SF)
Zoning code
C2
APN
28-37-16-00-00001.0-0000.00
UPID
US18-4969224
Jurisdiction
BREVARD
Zoning & alternative use
C2 · Melbourne, FL
Zoning C2 · permitted uses
C2 · 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
RETAIL STORES Current
Est. value
$7.1M
AUTO REPAIR, GARAGE
Est. value
$9.3M
OFFICE BUILDING
Est. value
$7.3M
MEDICAL BUILDING
Est. value
$6.7M
RETAIL STORES Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
2004
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
9.17 ac
Current owner
From public records · entity-resolved
Wal-mart Stores East LP
Entity
Free & Clear · 22 yrs held
Mailing address
PO BOX 8050, BENTONVILLE, AR 72712-8055
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 23, 2003
$1,368,200
Wal-mart Stores East LP
Athanasakos,elizabeth
Grant 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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