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Property profile & analytics
OFF-MARKET
Estimated value
$1,245,000
Medical Office Space
8040 Wickham Rd, Melbourne, FL 32940-8367
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US18-3612638
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,781 SF
Lot
1.14 ac (49,658 SF)
Zoning code
BU-1
APN
26-36-10-75-00000.0-0002.02
UPID
US18-3612638
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
-
Ho K Frederick MD Surgical Center Eye Care Center
-
Atlantic Eye MD Ophthalmologist
-
dr vaccari Physician
-
Kaukwok Ho Ophthalmologist
-
K. Frederick Ho Ophthalmologist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.67M
Blend (final)
Blend
$1.25M
Owner & transaction history
Spoonbill Lllp · 20 yrs held
Spoonbill Lllp
since 2006
7 recorded transactions
Zoning & alternative use
BU-1 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$2.0M
+7.2%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,885,000
Current use
RETAIL STORES
$2,020,000
Change: +7% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,615,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$1.25M
Range $1.12M – $1.37M · ±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
$106 / 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
$29,098
Tax year 2023
Assessed value
$1,871,330
Assessed 2023
Previous assessed
$1,693,120
+10.5% YoY
Effective rate
1.55%
On assessed value
Assessed land
$508,370
Assessed improvement
$1,362,960
Land market value
$508,370
Improvement market value
$1,362,960
Total market value
$1,871,330
Applied tax rate
420.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
4
Total area
11,781 SF
Lot
1.14 ac (49,658 SF)
Zoning code
BU-1
APN
26-36-10-75-00000.0-0002.02
UPID
US18-3612638
Jurisdiction
BREVARD
Zoning & alternative use
BU-1 · Melbourne, FL
Zoning BU-1 · permitted uses
BU-1 · 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
MEDICAL BUILDING Current
Est. value
$1.9M
RETAIL STORES
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.6M
MEDICAL BUILDING Current
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
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
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
4
Lot
1.14 ac
Current owner
From public records · entity-resolved
Spoonbill Lllp
Entity
Mailing address
8040 N WICKHAM RD, MELBOURNE, FL 32940-8367
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 22, 2018
—
Spoonbill & Frederick Lllp
—
Deed
related
$351,041 · Jp Morgan Chase Bk
Jun 2, 2006
—
Spoonbill Lllp
Spoonbill & Ho LLC
Quit Claim Deed
related
—
May 16, 2006
—
Ho Alana B Trust
Ho,kaukwok F
Quit Claim Deed
—
—
—
Spoonbill & Frederick Lllp
—
Deed Of Trust
related
$351,041 · Jp Morgan Chase Bk
—
—
Spoonbill Lllp
—
Deed Of Trust
related
$1,400,000 · Colonial Bank
—
—
Spoonbill & Frederick Lllp
—
Deed Of Trust
related
$362,967 · Jp Morgan Chase Bk
—
—
Spoonbill Lllp
—
Deed Of Trust
related
$1,500,000 · Wachovia Bank NA
—
—
Spoonbill Lllp
—
Deed Of Trust
related
$900,000 · Colonial Bank
—
—
Spoonbill Lllp
—
Deed Of Trust
related
$700,912 · Suntrust Bank NA
—
—
Spoonbill Lllp
—
Deed Of Trust
related
$1,254,087 · Suntrust Bank NA
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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