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Property profile & analytics
OFF-MARKET
Estimated value
$695,000
Warehouses
461 Forrest Ave, Cocoa, FL 32922-7701
Individually Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US19-0643275
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,002 SF
Lot
0.47 ac (20,473 SF)
Zoning code
CG
APN
24-36-28-87-00000.0-0030.00
UPID
US19-0643275
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
Current use
Occupant on record · Public records
-
Orange Computers and File Servers, Inc IT Consulting Firm (Bike/Boat/Book/etc) Store
-
ADVANCED TECHNOLOGIES WORLDWIDE Industrial Manufacturer Production Facility
-
Leathernecks MC Motorcycle Shop
-
Smooth Coast Sliding Glass Door Repair Hardware & Home Improvement General Contractor
-
Sonitrol Security Systems Security Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$615k
CAP Approach
CAP
$740k
Comparable Approach
Comparable
$688k
Blend (final)
Blend
$695k
Owner & transaction history
Micheal Dean Soelter · 2 yrs held
Micheal Dean Soelter
since 2023
Last sale
$739,900
4 recorded transactions
Zoning & alternative use
CG · Cocoa, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.1M
+58.4%
Office building
$1.1M
+54.9%
Auto repair, garage
$900,000
+31.1%
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 Cocoa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cocoa 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
$645,000
ML approach
$615,000
CAP Approach
CAP Return
Estimation
6%
$805,000
6.5%
$740,000
7%
$690,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$685,000
Current use
MEDICAL BUILDING
$1,085,000
Change: +58% · Conversion: Difficult
OFFICE BUILDING
$1,065,000
Change: +55% · Conversion: Difficult
AUTO REPAIR, GARAGE
$900,000
Change: +31% · Conversion: Easy
RETAIL STORES
$800,000
Change: +17% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$775,000
Change: +13% · Conversion: Moderate
Blend value · Realmo final
$695k
Range $626k – $765k · ±10% · vs last sale $740k (Nov 28 2023)
Last sale anchor
$740k
Nov 28 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
$99 / 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
$7,189
Tax year 2023
Assessed value
$322,460
Assessed 2023
Previous assessed
$310,490
+3.9% YoY
Effective rate
2.23%
On assessed value
Assessed land
$78,100
Assessed improvement
$244,360
Land market value
$78,100
Improvement market value
$244,360
Total market value
$322,460
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
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
4
Total area
7,002 SF
Lot
0.47 ac (20,473 SF)
Zoning code
CG
APN
24-36-28-87-00000.0-0030.00
UPID
US19-0643275
Jurisdiction
BREVARD
Zoning & alternative use
CG · Cocoa, FL
Zoning CG · permitted uses
CG · Cocoa, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cocoa. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$685,000
MEDICAL BUILDING
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$900,000
RETAIL STORES
Est. value
$800,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$775,000
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
4
Lot
0.47 ac
Current owner
From public records · entity-resolved
Micheal Dean Soelter
Individual
Free & Clear · 2 yrs held
Mailing address
4141 TRADEWINDS TRL, MERRITT ISLAND, FL 32953-8078
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 28, 2023
$739,900
Micheal Dean Soelter
Ralph S Perrone SR.
Warranty Deed
—
May 1, 2007
$687,000
Perrone Ralph S SR Trust
Schults,kirk J & Darla J
Warranty Deed
$550,000 · Sunrise Bank
Sep 2, 2005
$550,000
Kirk J Schults
Faiaz Rasul
Warranty Deed
$412,500 · Imperial Capital Bank
Aug 2, 1997
$29,900
Sun State Exteriors
Banana River Holdings
Grant Deed
—
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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