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Property profile & analytics
OFF-MARKET
Strip malls
489 Babcock St Melbourne, FL 32935-6805
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-3150939
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,784 SF
Lot
0.12 ac (5,227 SF)
Zoning code
C2
APN
27-37-21-78-00000.0-0005.00
UPID
US18-3150939
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
-
Got Wood Inc General Contractor Renovation Specialist
-
Got Wood & More General Contractor Renovation Specialist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Blem Holdings LLC · 2 yrs held
Blem Holdings LLC
since 2024
Last sale
$250,000
2 recorded transactions
Zoning & alternative use
C2 · Melbourne, 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 Melbourne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$4,745
Tax year 2023
Assessed value
$289,340
Assessed 2023
Previous assessed
$217,710
+32.9% YoY
Effective rate
1.64%
On assessed value
Assessed land
$56,860
Assessed improvement
$232,480
Land market value
$56,860
Improvement market value
$232,480
Total market value
$289,340
Applied tax rate
53.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
2
Rooms
4
Total area
3,784 SF
Lot
0.12 ac (5,227 SF)
Zoning code
C2
APN
27-37-21-78-00000.0-0005.00
UPID
US18-3150939
Jurisdiction
BREVARD
Zoning & alternative use
C2 · Melbourne, FL
Zoning C2 · permitted uses
C2 · Melbourne, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Melbourne. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
2
Rooms
4
Lot
0.12 ac
Current owner
From public records · entity-resolved
Blem Holdings LLC
Entity
Mailing address
489 N BABCOCK ST, MELBOURNE, FL 32935-6805
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 11, 2024
$250,000
Blem Holdings LLC
Got Wood INC
Warranty Deed
$458,000 · Crf Small Business Loan Company LLC
Feb 15, 2019
$260,000
Got Wood INC
Kenneth Wilhelm
Warranty Deed
$208,000 · Td Bank NA
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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