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Property profile & analytics
OFF-MARKET
Estimated value
$1,300,000
Industrial properties
71 Sunset Dr West Melbourne, FL 32904-5100
Entity Owned
10-yr Hold
Free & Clear
Property ID
US18-6129600
Property summary
AI-generated overview
This exceptional investment opportunity presents a 9,418 square foot industrial complex situated on a 0.58-acre lot in West Melbourne, Florida. The property comprises three buildings, totaling 9,418 square feet, with a mix of block and metal construction. Built in 1948 and renovated in 2018, the complex boasts 12 grade-level overhead doors, concrete flooring throughout, and a fully fenced and gated perimeter. Ceiling heights range from 11 to 14.5 feet. Currently 100% occupied with month-to-month tenants, generating a monthly income of $5,500. The property features City of West Melbourne Integrated Business (IB) zoning, allowing for warehousing, storage yards, automotive uses, light manufacturing, and more. The convenient location offers easy access to Interstate 95, US1, beaches, Melbourne International Airport, Downtown Melbourne, and Melbourne Square Mall. A bonus 2,232 square foot, three-bedroom, one-bathroom apartment is located upstairs, adding to the overall value. Seller financing may be considered subject to contract terms and buyer credit. Utilities include city water/sewer and FPL electric. The property's APN is 28-37-05-77-5-18.
Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
1948
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,414 SF
Lot
0.84 ac (36,590 SF)
Zoning code
M1
APN
28-37-05-77-00005.0-0018.00
UPID
US18-6129600
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.50M
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$1.30M
Owner & transaction history
Apsey Holdings LLC · 10 yrs held
Apsey Holdings LLC
since 2016
1 recorded transaction
Zoning & alternative use
M1 · West Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 West Melbourne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,625,000
6.5%
$1,500,000
7%
$1,395,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,995,000
Current use
AUTO REPAIR, GARAGE
$1,755,000
Change: -12% · Conversion: Difficult
OFFICE BUILDING
$1,705,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$1.30M
Range $1.17M – $1.43M · ±10%
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
$155 / 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
$8,958
Tax year 2023
Assessed value
$431,840
Assessed 2023
Previous assessed
$447,780
-3.6% YoY
Effective rate
2.07%
On assessed value
Assessed land
$146,300
Assessed improvement
$285,540
Land market value
$146,300
Improvement market value
$285,540
Total market value
$431,840
Applied tax rate
34.0000
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
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Status
Off-Market
Year built
1948
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
4
Stories
2
Units
2
Bathrooms
1
Total area
8,414 SF
Lot
0.84 ac (36,590 SF)
Zoning code
M1
APN
28-37-05-77-00005.0-0018.00
UPID
US18-6129600
Jurisdiction
BREVARD
Zoning & alternative use
M1 · West Melbourne, FL
Zoning M1 · permitted uses
M1 · West Melbourne, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Melbourne. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.7M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
OFFICE 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
1948
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Buildings
4
Units
2
Bathrooms
1
Lot
0.84 ac
Current owner
From public records · entity-resolved
Apsey Holdings LLC
Entity
Free & Clear · 10 yrs held
Mailing address
185 WESTOVER DR, MELBOURNE, FL 32904-5127
Ownership since
2016
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
Jun 17, 2016
$300,000
Apsey Holdings LLC
Eberenz,michael & Steve
Warranty Deed
—
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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