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    3804 Murrell Rd Rockledge, FL 32955-4741
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    Property profile & analytics

    3804 Murrell Rd, Rockledge, FL 32955-4741

    View on Map
    • Community centers
    • 48,956 SF
    • 13.55 lot acres
    Off-Market
    Last Sale Aug 26, 2020
    $175,000
    Property ID
    US18-5928636
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Community centers

    Property Details for 3804 Murrell Rd

    Year built
    2001
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    13.55 lot acres
    Zone code
    C2
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    25-36-21-00-00757.0-0000.00
    APU
    9223372036854775807

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Aug 21, 2000 $2,245,000 Publix Super Markets INC Mary V Pijnaker Trustee Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Rockledge
    County
    Brevard
    State
    Florida
    Longitude
    -80.7238
    Latitude
    28.2934
    CBSA code
    37340
    CBSA name
    PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $98,062
    $1,918,120
    $3,304,850
    $5,222,970
    -
    $1,918,120
    $3,304,850
    $5,222,970

    Comparable in this City

    • Value Estimation by Request
      189,781 SF

      Viera Blvd

      Neighborhood centers
      0 Viera Blvd, Rockledge, FL 32955
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    • Value Estimation by Request
      31,756 SF

      2268 Murrell Rd

      Lifestyle centers
      2268 Murrell Rd, Rockledge, FL 32955
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    • Value Estimation by Request
      0.03 Acres

      631 Eyster Blvd

      SHOPPING CENTER COMMON AREA
      631 Eyster Blvd, Rockledge, FL 32955
      View Details
    • Value Estimation
      $13,590,000
      156,248 SF

      3790 Fiske Blvd, Unit 101

      WHOLESALE OUTLET, DISCOUNT STORE
      3790 Fiske Blvd, Rockledge, FL 32955-4502
      View Details
    • Value Estimation
      $4,600,000
      25,004 SF

      1856 Us Hwy 1st 1

      SHOPPING CENTER, STRIP CENTER
      1856 Us Hwy 1st 1, Rockledge, FL 32955-2822
      View Details
    • Value Estimation by Request
      0.47 Acres

      Rockledge, FL 32955

      SHOPPING CENTER COMMON AREA
      Rockledge, FL 32955
      View Details

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    Similar Nearby for Lease

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      8,500 SF

      Rockledge Retail Space For Lease

      Retail spaces available in Rockledge, anchored by Thrifty Produce.
      920 Barton Blvd, Rockledge, FL 32955
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      3,200 SF

      Retail Space in Viera

      Grocery and home improvement anchored lifestyle center, flexible sizing available.
      1995 Viera Blvd, Rockledge, FL 32955
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    • Contact for pricing
      2,400 SF

      Retail Space in Viera

      Prime retail location in Brevard County's master-planned community.
      5410 Murrell Rd, Rockledge, FL 32955
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    • Contact for pricing
      1,195 SF

      Retail Space in Rockledge Plaza

      Retail spaces available in a busy Rockledge shopping center.
      196-212 Barton Blvd, Rockledge, FL 32955
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    • Contact for pricing
      2,573 SF

      Retail Space in Viera

      Grocery and home improvement anchored lifestyle center. Flexible sizing available.
      2035 Viera Blvd, Rockledge, FL 32955
      View Details
    • Contact for pricing
      23,440 SF

      Rockledge Retail Shopping Center Space

      Retail shopping center with excellent parking and accessibility.
      220-224 Barton Blvd, Rockledge, FL 32955
      View Details
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    Rockledge, FL 32955-4741
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    3804 Murrell Rd, Rockledge, FL, 32955
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