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Property profile & analytics
OFF-MARKET
Estimated value
$11,670,000
Warehouses
4401 Fortune Pl West Melbourne, FL 32904-1540
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-3337110
Property profile
Verified
Property type
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Year built
1998
Construction
STEEL FRAME
Total area
79,292 SF
Lot
9.64 ac (419,918 SF)
APN
27-36-35-00-00259.0-0000.00
UPID
US18-3337110
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
$9.12M
CAP Approach
CAP
$8.41M
Comparable Approach
Comparable
$10.79M
Blend (final)
Blend
$11.67M
Owner & transaction history
4401 Fortune Place LLC · 3 yrs held
4401 Fortune Place LLC
since 2022
Last sale
$12.1M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$17.7M
+100.2%
Office building
$16.1M
+81.6%
Retail stores
$13.6M
+53.7%
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
$11,960,000
ML approach
$9,120,000
CAP Approach
CAP Return
Estimation
6%
$9,105,000
6.5%
$8,405,000
7%
$7,805,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$8,850,000
Current use
AUTO REPAIR, GARAGE
$17,715,000
Change: +100% · Conversion: Easy
OFFICE BUILDING
$16,070,000
Change: +82% · Conversion: Difficult
RETAIL STORES
$13,605,000
Change: +54% · Conversion: Moderate
MEDICAL BUILDING
$12,690,000
Change: +43% · Conversion: Difficult
Blend value · Realmo final
$11.67M
Range $10.50M – $12.84M · ±10% · vs last sale $12.10M (Dec 22 2022)
Last sale anchor
$12.10M
Dec 22 2022
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
$147 / 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
$92,860
Tax year 2023
Assessed value
$5,656,780
Assessed 2023
Previous assessed
$4,723,240
+19.8% YoY
Effective rate
1.64%
On assessed value
Assessed land
$1,259,700
Assessed improvement
$4,397,080
Land market value
$1,259,700
Improvement market value
$4,397,080
Total market value
$5,656,780
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
STORAGE YARD, OPEN STORAGE
Status
Off-Market
Year built
1998
Construction
STEEL FRAME
Heating
NONE
Cooling
NONE
Stories
1
Units
1
Bathrooms
3
Total area
79,292 SF
Lot
9.64 ac (419,918 SF)
APN
27-36-35-00-00259.0-0000.00
UPID
US18-3337110
Jurisdiction
BREVARD
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$8.9M
AUTO REPAIR, GARAGE
Est. value
$17.7M
OFFICE BUILDING
Est. value
$16.1M
RETAIL STORES
Est. value
$13.6M
MEDICAL BUILDING
Est. value
$12.7M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1998
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Bathrooms
3
Lot
9.64 ac
Current owner
From public records · entity-resolved
4401 Fortune Place LLC
Entity
Mailing address
172 S BROADWAY, WHITE PLAINS, NY 10605-1800
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Jul 25, 2023
—
4401 Fortune Place LLC
—
Deed
related
$10,750,000 · Western United Life Assurence Company
Dec 22, 2022
$12,100,000
4401 Fortune Place LLC
Cross Brands Contract Filling LLC
Special Warranty Deed
$10,175,000 · Red Oak Capital Holdtngs LLC
Oct 1, 2020
$5,928,750
Cross Brands Contract Filling LLC
Graywater Investments II Ltd
Warranty Deed
$4,828,750 · Citizens State Bank La Crosse
Aug 22, 2019
—
Graywater Investments II Ltd
—
Deed
related
$2,431,778 · Centennial Bk
Aug 3, 2006
—
Graywater Investments II Ltd
—
Trustees Deed
related
$4,250,000 · State Farm Bank Fsb
—
—
Graywater Investments II Ltd
—
Loan Modification
related
$2,431,778 · Centennial 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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