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Property profile & analytics
OFF-MARKET
Estimated value
$1,400,000
Apartment buildings
485 Tropical Trl Merritt Island, FL 32952-4969
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-5228621
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,178 SF
Lot
2.24 ac (97,574 SF)
Zoning code
RU-2-15
APN
24-36-35-52-00000.0-0012.00
UPID
US18-5228621
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
-
Summerset Apartments Apartment Building
-
Bodies In Action Foundation Charitable Organization
-
Prana Body and Beyond LLC Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.45M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.40M
Owner & transaction history
Amlas Holdings LLC · 4 yrs held
Amlas Holdings LLC
since 2022
3 recorded transactions
Zoning & alternative use
RU-2-15 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Merritt Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Merritt Island 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%
$1,565,000
6.5%
$1,445,000
7%
$1,340,000
Blend value · Realmo final
$1.40M
Range $1.26M – $1.54M · ±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
$153 / 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
$33,900
Tax year 2023
Assessed value
$2,225,750
Assessed 2023
Previous assessed
$2,225,750
+0.0% YoY
Effective rate
1.52%
On assessed value
Assessed land
$642,000
Assessed improvement
$1,583,750
Land market value
$642,000
Improvement market value
$1,583,750
Total market value
$2,225,750
Applied tax rate
2,200.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
2
Units
11
Rooms
16
Bathrooms
6
Total area
9,178 SF
Lot
2.24 ac (97,574 SF)
Zoning code
RU-2-15
APN
24-36-35-52-00000.0-0012.00
UPID
US18-5228621
Jurisdiction
BREVARD
Zoning & alternative use
RU-2-15 · Merritt Island, FL
Zoning RU-2-15 · permitted uses
RU-2-15 · Merritt Island, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Merritt Island. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
2
Units
11
Rooms
16
Bathrooms
6
Lot
2.24 ac
Current owner
From public records · entity-resolved
Amlas Holdings LLC
Entity
Mailing address
1296 HEMPEL AVE, WINDERMERE, FL 34786-8110
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 24, 2022
$5,500,000
Amlas Holdings LLC
Tropical Property Partners LLC
Special Warranty Deed
—
Jul 15, 2020
—
Tropical Property Partners LLC
—
Deed
related
$1,300,000 · Vast Bank NA
Jan 22, 2018
$1,800,000
Tropical Property Partners LLC
Sallie A Gould
Warranty Deed
$950,000 · Gould Family Trust (pt)
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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