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Property profile & analytics
OFF-MARKET
Estimated value
$710,000
Distribution centers
827 State Rd 21 Melrose, FL 32666
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-4225767
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,400 SF
Lot
0.74 ac (32,234 SF)
APN
18-09-23-0000-039.0-000.0
UPID
US18-4225767
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
-
Melrose Mini Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$730k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$710k
Owner & transaction history
Melrose Mini Storage LLC · 2 yrs held
Melrose Mini Storage LLC
since 2023
Last sale
$699,000
4 recorded transactions
Zoning & alternative use
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 Melrose submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Melrose 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%
$790,000
6.5%
$730,000
7%
$675,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$595,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$485,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$455,000
Change: 0% · Conversion: Moderate
Blend value · Realmo final
$710k
Range $639k – $781k · ±10% · vs last sale $699k (Sep 7 2023)
Last sale anchor
$699k
Sep 7 2023
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
$209 / 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
$3,802
Tax year 2023
Assessed value
$232,500
Assessed 2023
Previous assessed
$225,510
+3.1% YoY
Effective rate
1.64%
On assessed value
Land market value
$94,770
Improvement market value
$137,730
Total market value
$232,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Total area
3,400 SF
Lot
0.74 ac (32,234 SF)
APN
18-09-23-0000-039.0-000.0
UPID
US18-4225767
Jurisdiction
PUTNAM
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$595,000
OFFICE BUILDING
Est. value
$485,000
RETAIL STORES
Est. value
$455,000
COMMERCIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
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
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Lot
0.74 ac
Current owner
From public records · entity-resolved
Melrose Mini Storage LLC
Entity
Free & Clear · 2 yrs held
Mailing address
4165 MAGNOLIA POND DR, SARASOTA, FL 34233
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 7, 2023
$699,000
Melrose Mini Storage LLC
Sandra Dooley
Warranty Deed
—
May 19, 1999
$221,300
Melrose Mini Storage Trust
Bloodgood,nancy J
Grant Deed
—
Aug 27, 1996
—
Melrose Properties INC
King Trust
Grant Deed
related
—
Jun 11, 1996
$65,800
Jones Trust
Chiappini,claire P
Grant 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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