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Property profile & analytics
FOR LEASE
Warehouses
406 Richard Rd Rockledge, FL 32955
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-3691408
For Lease
1 / 5
$1,250/Mo
406 Richard Rd, Rockledge, FL 32955
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Year built
1984
Construction
FRAME
Total area
7,680 SF
Lot
0.54 ac (23,522 SF)
Zoning code
M1
APN
25-36-09-00-00358.0-0000.00
UPID
US18-3691408
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
$780k
CAP Approach
CAP
$815k
Comparable Approach
Comparable
$732k
Blend (final)
Blend
$790k
Owner & transaction history
Clearlake Commercial Center INC · 2 yrs held
Clearlake Commercial Center INC
since 2023
Last sale
$845,000
3 recorded transactions
Zoning & alternative use
M1 · Rockledge, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.2M
+23.9%
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
$735,000
ML approach
$780,000
CAP Approach
CAP Return
Estimation
6%
$880,000
6.5%
$815,000
7%
$755,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$990,000
Current use
MEDICAL BUILDING
$1,230,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$790k
Range $711k – $869k · ±10% · vs last sale $845k (Jul 31 2023)
Last sale anchor
$845k
Jul 31 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
$103 / 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
$6,394
Tax year 2023
Assessed value
$348,470
Assessed 2023
Previous assessed
$321,430
+8.4% YoY
Effective rate
1.83%
On assessed value
Assessed land
$51,600
Assessed improvement
$296,870
Land market value
$51,600
Improvement market value
$296,870
Total market value
$348,470
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
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Status
For Lease
Year built
1984
Construction
FRAME
Heating
NONE
Cooling
NONE
Stories
1
Units
7
Total area
7,680 SF
Lot
0.54 ac (23,522 SF)
Zoning code
M1
APN
25-36-09-00-00358.0-0000.00
UPID
US18-3691408
Jurisdiction
BREVARD
Zoning & alternative use
M1 · Rockledge, FL
Zoning M1 · permitted uses
M1 · Rockledge, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rockledge. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$990,000
MEDICAL BUILDING
Est. value
$1.2M
WAREHOUSE, STORAGE Current
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
1984
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
1
Units
7
Lot
0.54 ac
Current owner
From public records · entity-resolved
Clearlake Commercial Center INC
Entity
Free & Clear · 2 yrs held
Mailing address
259 GUS HIPP BLVD, ROCKLEDGE, FL 32955-4802
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 31, 2023
$845,000
Clearlake Commercial Center INC
Turner Holdings INC
Warranty Deed
—
—
—
Turner Holdings INC
—
Deed Of Trust
related
$83,861 · Bankfirst
—
—
Turner Holdings INC
—
Deed Of Trust
related
$72,363 · Bankfirst
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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