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Property profile & analytics
OFF-MARKET
Estimated value
$2,680,000
Warehouses
650 Atlantis Rd Melbourne, FL 32904-2315
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US19-0664809
Property profile
Verified
Property type
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Year built
1997
Construction
FRAME
Total area
18,000 SF
Lot
2.8 ac (121,968 SF)
Zoning code
M1
APN
27-37-31-28-00000.0-0010.00
UPID
US19-0664809
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
-
verju Weight Loss Service
-
Brevard Real Estate Agency
-
Zerona Weight Loss Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.66M
CAP Approach
CAP
$1.91M
Comparable Approach
Comparable
$2.45M
Blend (final)
Blend
$2.68M
Owner & transaction history
650 Atlantis LLC · 2 yrs held
650 Atlantis LLC
since 2023
Last sale
$3.1M
7 recorded transactions
Zoning & alternative use
M1 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.0M
+100.2%
Office building
$3.7M
+81.6%
Retail stores
$3.1M
+53.7%
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 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
$2,370,000
ML approach
$2,655,000
CAP Approach
CAP Return
Estimation
6%
$2,065,000
6.5%
$1,910,000
7%
$1,770,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,010,000
Current use
AUTO REPAIR, GARAGE
$4,020,000
Change: +100% · Conversion: Easy
OFFICE BUILDING
$3,650,000
Change: +82% · Conversion: Difficult
RETAIL STORES
$3,090,000
Change: +54% · Conversion: Moderate
MEDICAL BUILDING
$2,880,000
Change: +43% · Conversion: Difficult
Blend value · Realmo final
$2.68M
Range $2.41M – $2.95M · ±10% · vs last sale $3.10M (Nov 2 2023)
Last sale anchor
$3.10M
Nov 2 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
$149 / 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
$34,817
Tax year 2023
Assessed value
$1,640,380
Assessed 2023
Previous assessed
$1,628,150
+0.8% YoY
Effective rate
2.12%
On assessed value
Assessed land
$304,920
Assessed improvement
$1,335,460
Land market value
$304,920
Improvement market value
$1,335,460
Total market value
$1,640,380
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
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Status
Off-Market
Year built
1997
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Units
1
Total area
18,000 SF
Lot
2.8 ac (121,968 SF)
Zoning code
M1
APN
27-37-31-28-00000.0-0010.00
UPID
US19-0664809
Jurisdiction
BREVARD
Zoning & alternative use
M1 · Melbourne, FL
Zoning M1 · permitted uses
M1 · 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
WAREHOUSE, STORAGE Current
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$4.0M
OFFICE BUILDING
Est. value
$3.7M
RETAIL STORES
Est. value
$3.1M
MEDICAL BUILDING
Est. value
$2.9M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
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
1997
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Units
1
Lot
2.8 ac
Current owner
From public records · entity-resolved
650 Atlantis LLC
Entity
Mailing address
650 ATLANTIS RD, MELBOURNE, FL 32904-2315
Mailing matches property
Yes
Owner-occupied
Yes
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 2023
$3,100,000
650 Atlantis LLC
Erchonia Corporation LLC
Warranty Deed
$1,677,630 · Cypress Bank & Trust
Jan 31, 2017
—
Erchonia Corp LLC
—
Deed
related
$848,000 · Bank Of America
May 11, 2016
$1,400,000
Erchonia Corp LLC
Brandon,harry E
Warranty Deed
$982,800 · Bank Of America
May 12, 2004
$950,000
Brandon Harry E Trust
Famcam INC
Warranty Deed
$760,000 · Republic Bank
Mar 31, 1997
$67,500
Famcam INC
Howard,michael F
Grant Deed
$612,056 · Nasa Commerce
—
—
Famcan INC
—
Deed Of Trust
related
$606,000 · Southtrust Bank NA
—
—
Brandon Harry E & Wendy S Tr
—
Deed Of Trust
related
$1,070,000 · Wachovia Bank NA
—
—
Erchonia Corp LLC
—
Deed Of Trust
related
$982,800 · Bank Of America
—
—
Erchonia Corp LLC
—
Loan Modification
related
$848,000 · Bank Of America
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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