Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    9006 Tropic Bch Dr, Unit 5 Cape Canaveral, FL 32920-2430

    • Hotels
    • 78,379 SF
    • 12.68 lot acres
    OFF-MARKET
    Value Estimations
    $8,690,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5935444
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Hotels

    Property Details for 9006 Tropic Bch Dr

    Year built
    2018
    Construction
    CONCRETE
    Lot size
    12.68 lot acres
    Property size
    78,379 SF
    Zone code
    R3
    Property type
    Hotels
    APN
    24-37-14-00-00011.0-0000.00
    APU
    9223372036854775807

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $11,795,000
      6.5%
      $10,885,000
      7%
      $10,110,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $5,846,000
      Market price range: $1.39M - $14.2M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cape Canaveral
    County
    Brevard
    State
    Florida
    Longitude
    -80.5932
    Latitude
    28.4047
    CBSA code
    37340
    CBSA name
    PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $138,323
    $3,160,000
    $6,936,130
    $10,096,130
    -
    $3,160,000
    $6,936,130
    $10,096,130

    Comparable in this City

    • Value Estimation
      $16,775,000
      157,523 SF

      9004 Astronaut Blvd

      HOTEL • 157,523 SF
      9004 Astronaut Blvd, Cape Canaveral, FL 32920-4601
      View Details
    • Value Estimation
      $4,895,000
      26,526 SF

      8701 Astronaut Blvd

      HOTEL • 26,526 SF
      8701 Astronaut Blvd, Cape Canaveral, FL 32920-4307
      View Details
    • Value Estimation
      $12,990,000
      107,898 SF

      655 Central Blvd

      HOTEL • 107,898 SF
      655 Central Blvd, Cape Canaveral, FL 32920-4316
      View Details
    • Value Estimation
      $19,695,000
      126,317 SF

      8959 Astronaut Blvd

      HOTEL • 126,317 SF
      8959 Astronaut Blvd, Cape Canaveral, FL 32920-4203
      View Details
    • Value Estimation
      $15,105,000
      109,762 SF

      605 Central Blvd

      HOTEL • 109,762 SF
      605 Central Blvd, Cape Canaveral, FL 32920-4316
      View Details
    • Value Estimation
      $14,325,000
      115,442 SF

      9000 Astronaut Blvd

      HOTEL • 115,442 SF
      9000 Astronaut Blvd, Cape Canaveral, FL 32920-4601
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,904 SF

      Fillmore Palms Apartments: Beachfront Investment

      15-Unit Multifamily Complex, Prime Location
      505 Fillmore Ave, Cape Canaveral, FL 32920
      View Details
    • $10,500,000

      Cape Canaveral Commercial Land Investment

      Prime 108,028 sq ft development land
      8955 Puerto Del Rio Dr, Cape Canaveral, FL 32920
      View Details
    • $697,700

      Cape Canaveral Beach Multifamily Lot

      Prime Beach Location, Build 4 Units!
      227 Johnson Ave, Cape Canaveral, FL 32920
      View Details
    • $5,350,000
      42,980 SF

      Cape Canaveral Manufacturing and Office

      42,980 SF manufacturing and office space on 1.84 acres.
      7077 N Atlantic Ave, Cape Canaveral, FL 32920
      View Details
    • $1,150,000
      1.85 Acres

      Cape Canaveral Land Opportunity

      Two commercial lots totaling 1.85 acres in Cape Canaveral.
      N Atlantic Ave, Cape Canaveral, FL 32920
      View Details
    • $4,500,000

      Cape Canaveral Commercial Land

      Beachfront land, high-income area, development potential.
      260 Cape Shores Cir, Cape Canaveral, FL 32920
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      22,200 SF

      Cape Canaveral Office Suites

      Prime Office Space, Multiple Sizes Available
      7001 Atlantic Ave, Cape Canaveral, FL 32920
      View Details
    • $2,250,000
      11,920 SF

      Cape Canaveral Industrial Building

      11,920 SF industrial building in Cape Canaveral, Florida.
      280 W Central Blvd, Cape Canaveral, FL 32920
      View Details
    • $7,292 /Mo

      Cape Canaveral Retail Opportunity

      5,000 SF retail space in prime Cape Canaveral location.
      8075 N Atlantic Ave, Cape Canaveral, FL 32920
      View Details
    • $18 SF/Yr
      650 SF

      Second Floor Office Space Available

      620 SF second-floor office space for rent, utilities included.
      405 Atlantis Rd, Cape Canaveral, FL 32920
      View Details
    • $16 SF/Yr
      20,646 SF

      Riverview Center Executive Offices

      Cape Canaveral Office Suites Available
      7011 Atlantic Ave, Cape Canaveral, FL 32920
      View Details
    • $17 SF/Yr
      5,000 SF

      Cape Canaveral Retail Space

      5,000 SF Retail Unit, Prime Location
      8075 Atlantic Ave, Cape Canaveral, FL 32920
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    9006 Tropic Bch Dr, Unit 5
    Cape Canaveral, FL 32920-2430
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.