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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Banks
4301 Norfolk Pkwy West Melbourne, FL 32904-8603
Individually Owned
7-yr Hold
Free & Clear
Property ID
US18-6671283
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,332 SF
Lot
1.44 ac (62,726 SF)
Zoning code
CP
APN
28-37-19-01-00000.0-0001.00
UPID
US18-6671283
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
$470k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$536k
Blend (final)
Blend
$500k
Owner & transaction history
Launch FCU · 7 yrs held
Launch FCU
since 2018
6 recorded transactions
Zoning & alternative use
CP · West Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$790,000
+91.9%
Restaurant
$760,000
+84.7%
Warehouse, storage
$735,000
+78.1%
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 West Melbourne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West 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
$470,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$410,000
Current use
OFFICE BUILDING
$790,000
Change: +92% · Conversion: Difficult
RESTAURANT
$760,000
Change: +85% · Conversion: Difficult
WAREHOUSE, STORAGE
$735,000
Change: +78% · Conversion: Difficult
MEDICAL BUILDING
$610,000
Change: +48% · Conversion: Difficult
AUTO REPAIR, GARAGE
$600,000
Change: +45% · Conversion: Difficult
Blend value · Realmo final
$500k
Range $450k – $550k · ±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
$79 / 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
$25,571
Tax year 2023
Assessed value
$1,860,410
Assessed 2023
Previous assessed
$1,868,830
-0.5% YoY
Effective rate
1.37%
On assessed value
Assessed land
$860,500
Assessed improvement
$999,910
Land market value
$860,500
Improvement market value
$999,910
Total market value
$1,860,410
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Units
1
Total area
6,332 SF
Lot
1.44 ac (62,726 SF)
Zoning code
CP
APN
28-37-19-01-00000.0-0001.00
UPID
US18-6671283
Jurisdiction
BREVARD
Zoning & alternative use
CP · West Melbourne, FL
Zoning CP · permitted uses
CP · West Melbourne, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Melbourne. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$410,000
OFFICE BUILDING
Est. value
$790,000
RESTAURANT
Est. value
$760,000
WAREHOUSE, STORAGE
Est. value
$735,000
MEDICAL BUILDING
Est. value
$610,000
AUTO REPAIR, GARAGE
Est. value
$600,000
FINANCIAL BUILDING Current
OFFICE BUILDING
RESTAURANT
WAREHOUSE, STORAGE
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Units
1
Lot
1.44 ac
Current owner
From public records · entity-resolved
Launch FCU
Individual
Free & Clear · 7 yrs held
Mailing address
300 S PLUMOSA ST, MERRITT ISLAND, FL 32952-3526
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 19, 2018
$1,025,000
Launch FCU
West Melbourne Town Center LLC
Grant Deed
—
Jun 1, 2018
—
West Melbourne Town Center LLC
—
Loan Modification
related
$43,346,932 · Us Bk
Nov 17, 2014
—
West Melbourne Town Center LLC
—
Loan Modification
related
$57,825,300 · Us Bk
Nov 14, 2011
—
West Melbourne Town Center LLC
—
Deed Of Trust
related
$42,487,177 · Us Bank NA
—
—
West Melbourne Town Center LLC
—
Loan Modification
related
$41,068,000 · Us Bank NA
—
—
West Melbourne Town Center LLC
—
Loan Modification
related
$60,104,232 · Us Bk
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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