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Property profile & analytics
OFF-MARKET
Estimated value
$530,000
Motels
812 Wavecrest Ave Indialantic, FL 32903-3233
Entity Owned
13-yr Hold
Free & Clear
Property ID
US18-0347007
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1959
Construction
WOOD
Total area
2,457 SF
Lot
0.24 ac (10,454 SF)
Zoning code
T
APN
27-38-31-EO-00040.0-0039.00
UPID
US18-0347007
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
$340k
Comparable Approach
Comparable
$535k
Blend (final)
Blend
$530k
Owner & transaction history
815 S Miramar Avenue LLC · 13 yrs held
815 S Miramar Avenue LLC
since 2013
5 recorded transactions
Zoning & alternative use
T · Indialantic, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of the Tourist Motels, Apartments, and Condominium District is to promote and support short-term and long-term accommodations that cater to tourists, seasonal residents, and visitors. This district encourages the development and maintenance of motels, furnished apartments, and condominiums that offer comfortable, accessible, and aesthetically plea…
Zone name
Tourist Motels Apartments And Condominium 300 500 And 1000 Square Feet
General category
UNKNOWN
Zone area
41.06 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$760,000
+17.5%
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 Indialantic submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Indialantic 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%
$370,000
6.5%
$340,000
7%
$315,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$645,000
Current use
COMMERCIAL (GENERAL)
$760,000
Change: +18% · Conversion: Difficult
AUTO REPAIR, GARAGE
$550,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$530k
Range $477k – $583k · ±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
$216 / 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
$12,144
Tax year 2023
Assessed value
$763,470
Assessed 2023
Previous assessed
$677,570
+12.7% YoY
Effective rate
1.59%
On assessed value
Assessed land
$308,250
Assessed improvement
$455,220
Land market value
$308,250
Improvement market value
$455,220
Total market value
$763,470
Applied tax rate
54.0000
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1959
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
9
Total area
2,457 SF
Lot
0.24 ac (10,454 SF)
Zoning code
T
APN
27-38-31-EO-00040.0-0039.00
UPID
US18-0347007
Jurisdiction
BREVARD
Zoning & alternative use
T · Indialantic, FLZoning T · permitted uses
T · Indialantic, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of the Tourist Motels, Apartments, and Condominium District is to promote and support short-term and long-term accommodations that cater to tourists, seasonal residents, and visitors. This district encourages the development and maintenance of motels, furnished apartments, and condominiums that offer comfortable, accessible, and aesthetically pleasing lodging options. It aims to enhance the local tourism economy while ensuring compatibility with surrounding land uses and preserving community character.
Zone name
Tourist Motels Apartments And Condominium 300 500 And 1000 Square Feet
General category
UNKNOWN
Zone area
41.06 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$645,000
COMMERCIAL (GENERAL)
Est. value
$760,000
AUTO REPAIR, GARAGE
Est. value
$550,000
HOTEL/MOTEL Current
COMMERCIAL (GENERAL)
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
1959
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
9
Lot
0.24 ac
Current owner
From public records · entity-resolved
815 S Miramar Avenue LLC
Entity
Free & Clear · 13 yrs held
Mailing address
4300 PRINCE WILLIAM PKWY, WOODBRIDGE, VA 22192-5361
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 18, 2013
$1,400,000
815 S Miramar Avenue LLC
Beezmot INC
Warranty Deed
—
May 12, 2004
$1,245,000
Beezmot INC
Hay,thomas C
Warranty Deed
$814,595 · First National Bank Nw Florida
Apr 20, 1994
$165,000
Thomas C Hay
Hammond Helen G Trust
Warranty Deed
related
$148,000
—
—
Thomas C Hay
—
Deed Of Trust
related
$215,340 · Countrywide Home Loans INC
—
—
Thomas C Hay
—
Deed Of Trust
related
$15,750 · Individual
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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