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Property profile & analytics
OFF-MARKET
Estimated value
$4,045,000
Strip malls
6670 Colonnade Ave Melbourne, FL 32940-6465
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-6112076
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,719 SF
Lot
1.21 ac (52,708 SF)
Zoning code
PUD
APN
26-36-09-TT-0000A.0-0004.00
UPID
US18-6112076
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
-
Verizon Telecommunications Service
-
Men's Wearhouse Clothing & Fashion Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.98M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.05M
Owner & transaction history
Management Team INC · 4 yrs held
Management Team INC
since 2022
Last sale
$4.0M
7 recorded transactions
Zoning & alternative use
PUD · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.2M
+298.1%
Restaurant
$3.0M
+179.1%
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
$4,165,000
ML approach
$3,980,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,205,000
Change: +298% · Conversion: Difficult
RESTAURANT
$2,950,000
Change: +179% · Conversion: Difficult
Blend value · Realmo final
$4.05M
Range $3.64M – $4.45M · ±10% · vs last sale $4.02M (Jul 1 2022)
Last sale anchor
$4.02M
Jul 1 2022
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
$524 / 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
$22,896
Tax year 2023
Assessed value
$1,662,170
Assessed 2023
Previous assessed
$1,641,990
+1.2% YoY
Effective rate
1.38%
On assessed value
Assessed land
$905,690
Assessed improvement
$756,480
Land market value
$905,690
Improvement market value
$756,480
Total market value
$1,662,170
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
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
2
Total area
7,719 SF
Lot
1.21 ac (52,708 SF)
Zoning code
PUD
APN
26-36-09-TT-0000A.0-0004.00
UPID
US18-6112076
Jurisdiction
BREVARD
Zoning & alternative use
PUD · Melbourne, FL
Zoning PUD · permitted uses
PUD · 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
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.2M
RESTAURANT
Est. value
$3.0M
APARTMENT HOUSE (5+ UNITS)
RESTAURANT
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
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
2
Lot
1.21 ac
Current owner
From public records · entity-resolved
Management Team INC
Entity
Mailing address
1306 WINTER SPGS BLVD, WINTER SPRINGS, FL 32708-3801
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2022
$4,021,100
Management Team INC
Thornton Viera LLC
Special Warranty Deed
—
Sep 30, 2021
—
Thornton Viera LLC
—
Deed
related
$1,900,000 · Synovus Bank
Aug 2, 2016
—
Thornton Viera LLC
—
Deed
related
$2,100,000 · Weinreich 2012 Family Tr (pt)
Oct 12, 2006
—
Thornton Viera LLC
400 Investors LLC
Quit Claim Deed
related
—
Oct 12, 2006
$3,125,000
Thornton Viera LLC
400 Investors LLC
Special Warranty Deed
$2,150,000 · Morgan Stanley Mortgage Capital INC
Jul 5, 2006
$87,621,300
Cp Venture Five-av LLC
Cousins Properties INC
Grant Deed
—
Jul 5, 2006
—
Cp Venture Five-av LLC
Cousins Properties INC
Quit Claim Deed
related
—
Sep 30, 2005
$852,500
400 Investors LLC
Cousins Properties INC
Special Warranty Deed
—
May 3, 2004
—
Cousins Properties INC
Viera Dev Corp
Quit Claim Deed
related
—
Apr 29, 2004
—
Viera Dev Co
Viera
Quit Claim Deed
related
—
—
—
Thornton Viera LLC
—
Deed Of Trust
related
$2,100,000 · Weinreich 2012 Family Tr (pt)
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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