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Property profile & analytics
OFF-MARKET
Estimated value
$1,240,000
Warehouses
4343 Fortune Pl West Melbourne, FL 32904-1524
Individually Owned
Absentee Owner
Free & Clear
Property ID
US19-0412334
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1992
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,400 SF
Lot
1.39 ac (60,548 SF)
Zoning code
M1
APN
27-36-35-25-00000.0-0013.01
UPID
US19-0412334
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
$1.10M
Comparable Approach
Comparable
$1.19M
Blend (final)
Blend
$1.24M
Owner & transaction history
Chu Mu
Chu Mu
since 2026
Last sale
$1.3M
3 recorded transactions
Zoning & alternative use
M1 · West Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.8M
+53.7%
Medical building
$1.7M
+43.3%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,195,000
6.5%
$1,100,000
7%
$1,025,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,160,000
Current use
RETAIL STORES
$1,785,000
Change: +54% · Conversion: Moderate
MEDICAL BUILDING
$1,665,000
Change: +43% · Conversion: Difficult
Blend value · Realmo final
$1.24M
Range $1.12M – $1.36M · ±10% · vs last sale $1.27M (Jun 5 2025)
Last sale anchor
$1.27M
Jun 5 2025
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
$119 / 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
$10,521
Tax year 2023
Assessed value
$610,550
Assessed 2023
Previous assessed
$603,210
+1.2% YoY
Effective rate
1.72%
On assessed value
Assessed land
$108,800
Assessed improvement
$501,750
Land market value
$108,800
Improvement market value
$501,750
Total market value
$610,550
Applied tax rate
52.0000
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1992
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
4
Total area
10,400 SF
Lot
1.39 ac (60,548 SF)
Zoning code
M1
APN
27-36-35-25-00000.0-0013.01
UPID
US19-0412334
Jurisdiction
BREVARD
Zoning & alternative use
M1 · West Melbourne, FL
Zoning M1 · permitted uses
M1 · 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
WAREHOUSE, STORAGE Current
Est. value
$1.2M
RETAIL STORES
Est. value
$1.8M
MEDICAL BUILDING
Est. value
$1.7M
WAREHOUSE, STORAGE Current
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
1992
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
4
Lot
1.39 ac
Current owner
From public records · entity-resolved
Chu Mu
Individual
Free & Clear · 0 yrs held
Mailing address
4280 WINDOVER WAY, MELBOURNE, FL 32934-8515
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
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
Apr 7, 2026
$1,800,000
Chu Mu
Drg Fortune LLC
Special Warranty Deed
—
Sep 5, 2025
$1,270,000
Drg Fortune LLC
Tropical Space LLC
Warranty Deed
$970,000 · Tropical Space LLC
Mar 7, 2003
$370,000
Tropical Space LLC
Hhh Associates INC
Grant Deed
$275,000 · Amsouth Bank
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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