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Property profile & analytics
OFF-MARKET
Estimated value
$4,670,000
Office buildings
375 Commerce Pkwy Rockledge, FL 32955-4256
Entity Owned
28-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-4342104
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
20,198 SF
Lot
4.76 ac (207,346 SF)
Zoning code
IP
APN
25-36-15-25-00000.0-0005.00
UPID
US18-4342104
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
$4.51M
Comparable Approach
Comparable
$5.36M
Blend (final)
Blend
$4.67M
Owner & transaction history
Commerce Properties Intl INC
Commerce Properties Intl INC
2 recorded transactions
Zoning & alternative use
IP · Rockledge, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of IP industrial park district is composed of lands so situated as to be well adapted in industrial park development
Zone name
Industrial Park
General category
INDUSTRIAL
Zone area
706.91 ac
Source
Realmo
Top alternative use upside
Restaurant
$7.7M
+91.6%
Commercial (general)
$6.3M
+55.3%
Auto repair, garage
$4.5M
+12.0%
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 Rockledge submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rockledge 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%
$4,885,000
6.5%
$4,510,000
7%
$4,190,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,030,000
Current use
RESTAURANT
$7,720,000
Change: +92% · Conversion: Moderate
COMMERCIAL (GENERAL)
$6,255,000
Change: +55% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,515,000
Change: +12% · Conversion: Difficult
RETAIL STORES
$3,465,000
Change: -14% · Conversion: Moderate
MEDICAL BUILDING
$3,230,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$4.67M
Range $4.20M – $5.14M · ±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
$231 / 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
$71,403
Tax year 2023
Assessed value
$4,085,540
Assessed 2023
Previous assessed
$3,901,100
+4.7% YoY
Effective rate
1.75%
On assessed value
Assessed land
$290,280
Assessed improvement
$3,795,260
Land market value
$290,280
Improvement market value
$3,795,260
Total market value
$4,085,540
Applied tax rate
23.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
1
Units
1
Total area
20,198 SF
Lot
4.76 ac (207,346 SF)
Zoning code
IP
APN
25-36-15-25-00000.0-0005.00
UPID
US18-4342104
Jurisdiction
BREVARD
Zoning & alternative use
IP · Rockledge, FLZoning IP · permitted uses
IP · Rockledge, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of IP industrial park district is composed of lands so situated as to be well adapted in industrial park development
Zone name
Industrial Park
General category
INDUSTRIAL
Zone area
706.91 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$4.0M
RESTAURANT
Est. value
$7.7M
COMMERCIAL (GENERAL)
Est. value
$6.3M
AUTO REPAIR, GARAGE
Est. value
$4.5M
RETAIL STORES
Est. value
$3.5M
MEDICAL BUILDING
Est. value
$3.2M
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1996
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
4.76 ac
Current owner
From public records · entity-resolved
Commerce Properties Intl INC
Entity
Mailing address
317 RIV EDGE BLVD STE #204, COCOA, FL 32922-7985
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
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
—
—
Commerce Properties Intl INC
—
Deed Of Trust
related
$240,000 · Wachovia Bank NA
—
—
Commerce Properties Intl INC
—
Deed Of Trust
related
$614,000 · Branch Banking & Trust Co
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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