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Property profile & analytics
FOR LEASE
Office buildings
490 Centre Lake Dr NE Palm Bay, FL 32907
Entity Owned
Free & Clear
Property ID
US18-5797959
For Lease
1 / 22
$3,169/Mo
490 Centre Lake Dr NE, Palm Bay, FL 32907
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Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1998
Construction
CONCRETE
Total area
19,113 SF
Lot
1.7 ac (74,052 SF)
Zoning code
CC
APN
28-37-19-75-0000A.1-0000.00
UPID
US18-5797959
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
$3.05M
CAP Approach
CAP
$4.27M
Comparable Approach
Comparable
$3.95M
Blend (final)
Blend
$3.06M
Owner & transaction history
Wolfgate Signops LLC
Wolfgate Signops LLC
since 2025
7 recorded transactions
Zoning & alternative use
CC · Palm Bay, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.3M
+11.5%
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 Palm Bay submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palm Bay 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
$2,970,000
ML approach
$3,045,000
CAP Approach
CAP Return
Estimation
6%
$4,625,000
6.5%
$4,270,000
7%
$3,965,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,830,000
Current use
AUTO REPAIR, GARAGE
$4,270,000
Change: +11% · Conversion: Difficult
RETAIL STORES
$3,280,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$3.06M
Range $2.75M – $3.36M · ±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
$160 / 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
$44,460
Tax year 2023
Assessed value
$2,419,820
Assessed 2023
Previous assessed
$2,090,290
+15.8% YoY
Effective rate
1.84%
On assessed value
Assessed land
$199,940
Assessed improvement
$2,219,880
Land market value
$199,940
Improvement market value
$2,219,880
Total market value
$2,419,820
Applied tax rate
54.0000
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
For Lease
Year built
1998
Construction
CONCRETE
Heating
FORCED AIR
Cooling
YES
Stories
2
Units
8
Total area
19,113 SF
Lot
1.7 ac (74,052 SF)
Zoning code
CC
APN
28-37-19-75-0000A.1-0000.00
UPID
US18-5797959
Jurisdiction
BREVARD
Zoning & alternative use
CC · Palm Bay, FL
Zoning CC · permitted uses
CC · Palm Bay, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palm Bay. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.8M
AUTO REPAIR, GARAGE
Est. value
$4.3M
RETAIL STORES
Est. value
$3.3M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
CONCRETE
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
8
Lot
1.7 ac
Current owner
From public records · entity-resolved
Wolfgate Signops LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1075 W GRANT RD, TUCSON, AZ 85705-5310
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 3, 2025
—
Wolfgate Signops LLC
Ld Outdoor Propco 2 Ll
Deed
related
—
Sep 19, 2025
—
American Outside Advertising LLC
Assured 2 LLC
Deed
—
Nov 9, 2021
$2,472,300
Assured 2 LLC
1st Centre LLC
Special Warranty Deed
$741,953 · Western Alliance Bank
Jul 3, 2013
—
1st Centre LLC
1st Centre LLC
Quit Claim Deed
related
—
Dec 31, 2009
$1,500,000
Centre Lake Medical LLC
Windrose Osler Properties LLC
Special Warranty Deed
$1,200,000 · Branch Banking And Trust Co
Nov 14, 2005
$3,993,900
Windrose Osler Properties LLC
Palm Bay Holding LLC
Grant Deed
—
Nov 12, 2003
—
Palm Bay Holding LLC
Medical Office Portfolio Prope
Grant Deed
$1,900,000 · Gmac Commercial Mortgage Corp
—
—
Palm Bay Holding LLC
—
Deed Of Trust
related
$274,543 · Gmac Commercial Mortgage 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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