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Property profile & analytics
OFF-MARKET
Estimated value
$5,290,000
Strip malls
6431 Lk Andrew Dr 101 Melbourne, FL 32940-7250
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-4927601
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
10,730 SF
Lot
2.09 ac (91,040 SF)
APN
26-36-04-78-0000A.0-0002.00
UPID
US18-4927601
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
-
Alex Harrison Mehler Dental Office
-
Athletic Club of the Avenues Gym & Fitness Center
-
The Joint Chiropractic Alternative Medicine Practice
-
Aspen Dental - Viera, FL Dental Office
-
Jean Mary Marius Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.16M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.29M
Owner & transaction history
Erdkids 2 LLC · 5 yrs held
Erdkids 2 LLC
since 2021
Last sale
$5.1M
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$5.9M
+298.1%
Restaurant
$4.1M
+179.1%
Commercial (general)
$3.3M
+126.2%
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
$5,800,000
ML approach
$5,155,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$5,850,000
Change: +298% · Conversion: Difficult
RESTAURANT
$4,100,000
Change: +179% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,320,000
Change: +126% · Conversion: Easy
Blend value · Realmo final
$5.29M
Range $4.76M – $5.82M · ±10% · vs last sale $5.10M (Jul 1 2021)
Last sale anchor
$5.10M
Jul 1 2021
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
$493 / 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
$35,074
Tax year 2023
Assessed value
$2,526,450
Assessed 2023
Previous assessed
$2,526,450
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$1,569,960
Assessed improvement
$956,490
Land market value
$1,569,960
Improvement market value
$956,490
Total market value
$2,526,450
Applied tax rate
4,200.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Units
5
Total area
10,730 SF
Lot
2.09 ac (91,040 SF)
APN
26-36-04-78-0000A.0-0002.00
UPID
US18-4927601
Jurisdiction
BREVARD
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.9M
RESTAURANT
Est. value
$4.1M
COMMERCIAL (GENERAL)
Est. value
$3.3M
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
COMMERCIAL (GENERAL)
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
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Units
5
Lot
2.09 ac
Current owner
From public records · entity-resolved
Erdkids 2 LLC
Entity
Mailing address
4650 HWY 520, COCOA, FL 32926-2333
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2021
$5,100,000
Erdkids 2 LLC
Mhw Colonnade LLC
Special Warranty Deed
$2,600,000 · Anchor 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.
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