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Property profile & analytics
OFF-MARKET
Estimated value
$875,000
Office buildings
524 Hbr City Blvd Melbourne, FL 32935-6847
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-0537746
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1952
Construction
WOOD
Total area
2,907 SF
Lot
0.38 ac (16,553 SF)
Zoning code
C1A
APN
27-37-21-76-00004.0-0007.00
UPID
US18-0537746
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
-
Law Office of Tracy A. Cornish, P.A. Law Firm
-
Engel & Völkers Melbourne Central Real Estate Agency
-
Jennifer Martin, Realtor Real Estate Agency
-
Future Home Loans Space Coast Loan Service Bank
-
Tropic Coast Realty: Lee Kinsey Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$820k
CAP Approach
CAP
$650k
Comparable Approach
Comparable
$842k
Blend (final)
Blend
$875k
Owner & transaction history
Future Financial Space Coast LLC · 2 yrs held
Future Financial Space Coast LLC
since 2023
Last sale
$900,000
5 recorded transactions
Zoning & alternative use
C1A · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$900,000
+11.6%
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
Method
Estimation
Statistic approach
$905,000
ML approach
$820,000
CAP Approach
CAP Return
Estimation
6%
$705,000
6.5%
$650,000
7%
$605,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$805,000
Current use
COMMERCIAL (GENERAL)
$900,000
Change: +12% · Conversion: Easy
AUTO REPAIR, GARAGE
$650,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$875k
Range $788k – $963k · ±10% · vs last sale $900k (Dec 22 2023)
Last sale anchor
$900k
Dec 22 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
$301 / 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
$5,603
Tax year 2023
Assessed value
$341,320
Assessed 2023
Previous assessed
$248,540
+37.3% YoY
Effective rate
1.64%
On assessed value
Assessed land
$141,780
Assessed improvement
$199,540
Land market value
$141,780
Improvement market value
$199,540
Total market value
$341,320
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1952
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
2,907 SF
Lot
0.38 ac (16,553 SF)
Zoning code
C1A
APN
27-37-21-76-00004.0-0007.00
UPID
US18-0537746
Jurisdiction
BREVARD
Zoning & alternative use
C1A · Melbourne, FL
Zoning C1A · permitted uses
C1A · 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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$805,000
COMMERCIAL (GENERAL)
Est. value
$900,000
AUTO REPAIR, GARAGE
Est. value
$650,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1952
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
0.38 ac
Current owner
From public records · entity-resolved
Future Financial Space Coast LLC
Entity
Mailing address
224 3RD ST N, JACKSONVILLE, FL 32250-6935
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2023
$900,000
Future Financial Space Coast LLC
Mwb Real Estate Venture LLC
Warranty Deed
$450,000 · Bank Of America NA
Dec 28, 2016
—
Mwb Real Estate Venture INC
—
Deed
related
$294,997 · Space Coast Cu
Sep 9, 2015
$225,000
Mwb Real Estate Venture INC
Total Image Graphics INC
Warranty Deed
$300,000 · Space Coast Cu
Aug 24, 2001
$190,000
D D Management Enterprises INC
Hegenwald,joann
Grant Deed
—
—
—
Mwb Real Estate Venture INC
—
Loan Modification
related
$294,997 · Space Coast Cu
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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