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Property profile & analytics
OFF-MARKET
Estimated value
$885,000
Truck terminals
5042 Korbin Ave Rockledge, FL 32955
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-3033934
Property profile
Verified
Property type
Truck terminals
Use group
TRUCK TERMINAL (MOTOR FREIGHT)
Year built
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,806 SF
Lot
6.92 ac (301,435 SF)
Zoning code
IU1
APN
25-36-35-00-00010.0-0000.00
UPID
US18-3033934
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
$875k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$787k
Blend (final)
Blend
$885k
Owner & transaction history
Serap Properties LLC · 1 yrs held
Serap Properties LLC
since 2025
Last sale
$875,000
3 recorded transactions
Zoning & alternative use
IU1 · Rockledge, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.4M
+32.7%
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 Rockledge submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rockledge 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
$910,000
ML approach
$875,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
TRUCK TERMINAL (MOTOR FREIGHT)
$1,060,000
Current use
MEDICAL BUILDING
$1,410,000
Change: +33% · Conversion: Difficult
Blend value · Realmo final
$885k
Range $797k – $974k · ±10% · vs last sale $875k (Mar 17 2020)
Last sale anchor
$875k
Mar 17 2020
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
$100 / 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
$14,256
Tax year 2023
Assessed value
$658,900
Assessed 2023
Previous assessed
$776,690
-15.2% YoY
Effective rate
2.16%
On assessed value
Assessed land
$376,260
Assessed improvement
$282,640
Land market value
$376,260
Improvement market value
$282,640
Total market value
$658,900
Applied tax rate
4,300.0000
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
Truck terminals
Use group
TRUCK TERMINAL (MOTOR FREIGHT)
Status
Off-Market
Year built
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
YES
Stories
2
Units
1
Total area
8,806 SF
Lot
6.92 ac (301,435 SF)
Zoning code
IU1
APN
25-36-35-00-00010.0-0000.00
UPID
US18-3033934
Jurisdiction
BREVARD
Zoning & alternative use
IU1 · Rockledge, FL
Zoning IU1 · permitted uses
IU1 · Rockledge, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rockledge. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
TRUCK TERMINAL (MOTOR FREIGHT) Current
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.4M
TRUCK TERMINAL (MOTOR FREIGHT) Current
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
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
2
Units
1
Lot
6.92 ac
Current owner
From public records · entity-resolved
Serap Properties LLC
Entity
Mailing address
11042 ULLSWATER LN, WINDERMERE, FL 34786-5411
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 27, 2025
$3,000,000
Serap Properties LLC
Noka Group III LLC
Warranty Deed
$2,500,000 · Noka Group III LLC
Mar 17, 2020
$875,000
Noka Group III LLC
Agro-iron LLC
Grant Deed
—
Aug 23, 2016
$640,000
Agro-iron INC
Stark Truss Co INC
Warranty 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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