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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    688 Patrick Dr Satellite Beach, FL 32937-3873

    • Auto shops
    • 2,977 SF
    • 0.62 lot acres
    OFF-MARKET
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-0537747
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Auto shops

    Property Details for 688 Patrick Dr

    Year built
    1965
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.62 lot acres
    Property size
    2,977 SF
    Zone code
    BU-1
    Property type
    Auto shops
    APN
    26-37-27-00-00003.2-0000.00
    APU
    9223372036854775807

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $295,000
      Market price range: $165k - $495k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Satellite Beach
    County
    Brevard
    State
    Florida
    Longitude
    -80.6067
    Latitude
    28.1959
    CBSA code
    37340
    CBSA name
    PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,736
    $270,000
    $9,700
    $279,700
    -
    $270,000
    $9,700
    $279,700

    Comparable in this City

    • Value Estimation
      $305,000
      2,224 SF

      138 Tomahawk Dr

      AUTO REPAIR, GARAGE • 2,224 SF
      138 Tomahawk Dr, Indian Harbour Beach, FL 32937-3519
      View Details
    • Value Estimation
      $295,000
      2,760 SF

      108 Tomahawk Dr

      AUTO REPAIR, GARAGE • 2,760 SF
      108 Tomahawk Dr, Indian Harbour Beach, FL 32937-3519
      View Details
    • Value Estimation
      $305,000
      5,625 SF

      116 Tomahawk Dr

      AUTO REPAIR, GARAGE • 5,625 SF
      116 Tomahawk Dr, Satellite Beach, FL 32937
      View Details
    • Value Estimation
      $295,000
      4,819 SF

      350 Tortoise Vw Dr

      AUTO REPAIR, GARAGE • 4,819 SF
      350 Tortoise Vw Dr, Satellite Beach, FL 32937-3876
      View Details
    • Value Estimation
      $260,000
      1,635 SF

      276 Hwy A1a

      AUTO REPAIR, GARAGE • 1,635 SF
      276 Hwy A1a, Satellite Beach, FL 32937-2096
      View Details
    • Value Estimation
      $670,000
      2,291 SF

      304 Hwy A1a

      AUTO REPAIR, GARAGE • 2,291 SF
      304 Hwy A1a, Satellite Beach, FL 32937-2301
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,029 SF

      Prime Beachside Retail & Fuel Center

      High-traffic C-Store & Gas Station in Satellite Beach, FL
      1904 Patrick Dr, Indian Harbour Beach, FL 32937
      View Details
    • $885,000
      Pending

      Prime Commercial Land in Satellite Beach

      High-visibility commercial site near Port Canaveral with diverse development potential.
      304 Highway A1A, Satellite Beach, FL 32937
      View Details
    • $275,000
      Pending

      New Warehouses Under Construction

      New warehouse units under construction, completion approximately October 2022.
      102 Tomahawk Dr, Indian Harbour Beach, FL 32937
      View Details
    • $650,000
      2,220 SF

      Coastal Duplex in Satellite Beach

      Well-maintained duplex near the ocean, ideal for investors or owner-occupants.
      517 Jackson Ave, Satellite Beach, FL 32937
      View Details
    • $2,700,000

      Prime Satellite Beach Office Building

      18-Unit Office Building, $2.7M
      476 Highway A1A, Satellite Beach, FL 32937
      View Details
    • $1,150,000
      Pending

      Indian Harbour Beach Warehouse Units

      Five warehouse units under construction in Indian Harbour Beach, Florida.
      102 Tomahawk Dr, Indian Harbour Beach, FL 32937
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,000 SF

      Retail Space Near Coastal Activities

      Retail space near beaches with high traffic and local residents.
      243 E Eau Gallie Blvd, Indian Harbour Beach, FL 32937
      View Details
    • $22 SF/Yr
      10,519 SF

      A1A Retail Spaces, Satellite Beach

      High-traffic retail/office suites.
      1324 Florida A1A, Satellite Beach, FL 32937
      View Details
    • $22 SF/Yr
      1,971 SF

      Highway A1A Retail Opportunity

      Prime Retail Space, High Traffic Area
      1324 Highway A1A, Satellite Beach, FL 32937
      View Details
    • Contact for pricing
      123,258 SF

      Ocean Springs Shopping Center: Prime Retail

      Beachfront Retail Space Available; High Traffic Area
      961 Eau Gallie Blvd, Melbourne, FL 32937
      View Details
    • Contact for pricing

      Retail Space in Indian Harbour

      Retail spaces available in Indian Harbour Beach shopping center.
      247 East Eau Gallie Blvd, Indian Harbour Beach, FL 32937
      View Details
    • Contact for pricing
      1,765 SF

      Retail Spaces on Patrick Drive

      Retail spaces available in high-visibility shopping center on Patrick Drive.
      1847 S Patrick Dr, Indian Harbour Beach, FL 32937
      View Details
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    688 Patrick Dr
    Satellite Beach, FL 32937-3873
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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