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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Retail space
712 Cleveland St Sebastian, FL 32958-4178
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US18-2311208
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,821 SF
Lot
0.29 ac (12,632 SF)
Zoning code
CR
APN
31-39-06-00020-0020-00006.0
UPID
US18-2311208
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
-
Pareidolia Brewing Co. Production Facility Brewery & Distillery
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$550k
CAP Approach
CAP
$415k
Comparable Approach
Comparable
$594k
Blend (final)
Blend
$570k
Owner & transaction history
Pareidolia Enterprises LLC · 4 yrs held
Pareidolia Enterprises LLC
since 2021
Last sale
$550,000
7 recorded transactions
Zoning & alternative use
CR · Sebastian, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The zoning district is intended to provide for a mixture of uses and a variety of opportunities for recreational and commercial uses while protecting the environment.
Zone name
Commercial Riverfront
General category
COMMERCIAL
Zone area
137.20 ac
Source
Realmo
Top alternative use upside
Office building
$640,000
+6.7%
Auto repair, garage
$610,000
+2.4%
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 Sebastian submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sebastian 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
$610,000
ML approach
$550,000
CAP Approach
CAP Return
Estimation
6%
$450,000
6.5%
$415,000
7%
$385,000
Alternative Use
Use
Estimation
RETAIL STORES
$600,000
Current use
OFFICE BUILDING
$640,000
Change: +7% · Conversion: Easy
AUTO REPAIR, GARAGE
$610,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$570k
Range $513k – $627k · ±10% · vs last sale $550k (Sep 9 2021)
Last sale anchor
$550k
Sep 9 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
$202 / 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
$5,822
Tax year 2023
Assessed value
$280,321
Assessed 2023
Previous assessed
$280,664
-0.1% YoY
Effective rate
2.08%
On assessed value
Assessed land
$85,000
Assessed improvement
$195,321
Land market value
$85,000
Improvement market value
$195,321
Total market value
$280,321
Applied tax rate
2.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
AC.PACKAGE
Stories
1
Units
1
Total area
2,821 SF
Lot
0.29 ac (12,632 SF)
Zoning code
CR
APN
31-39-06-00020-0020-00006.0
UPID
US18-2311208
Jurisdiction
INDIAN RIVER
Zoning & alternative use
CR · Sebastian, FLZoning CR · permitted uses
CR · Sebastian, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The zoning district is intended to provide for a mixture of uses and a variety of opportunities for recreational and commercial uses while protecting the environment.
Zone name
Commercial Riverfront
General category
COMMERCIAL
Zone area
137.20 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$600,000
OFFICE BUILDING
Est. value
$640,000
AUTO REPAIR, GARAGE
Est. value
$610,000
RETAIL STORES Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Units
1
Lot
0.29 ac
Current owner
From public records · entity-resolved
Pareidolia Enterprises LLC
Entity
Mailing address
117 JOY HVN DR, SEBASTIAN, FL 32958-6201
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 9, 2021
$550,000
Pareidolia Enterprises LLC
Thomas E Haynes
Warranty Deed
$283,500 · Marine Bank & Trust Company
Jun 25, 2018
—
Haynes,t E & D M Marital Trust
Haynes,thomas E & Donna M
Quit Claim Deed
related
—
Nov 21, 2017
—
Intervivos Thomas E & Donna M Trust
Haynes,thomas E & Donna M
Quit Claim Deed
related
—
Oct 10, 2014
$258,000
Thomas E Haynes
Alpha Hardward INC
Warranty Deed
$191,000 · Seacoast National Bank
Jul 22, 1997
$125,000
Alpha Ace Hardware INC
Smith,dale S & Cynthia A
Grant Deed
$105,000 · Indian River National Bank
—
—
Alpha Hardware
—
Deed Of Trust
related
$56,468 · Pnc Bank
—
—
Alpha Ace Hardware INC
—
Deed Of Trust
related
$50,000 · Indian River National 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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