Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$5,845,000
Apartment buildings
904 Wavecrest Ave Indialantic, FL 32903-3266
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US18-4400271
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
34,360 SF
Lot
1.11 ac (48,352 SF)
Zoning code
T
APN
27-38-31-EO-00040.0-0019.00
UPID
US18-4400271
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
$5.98M
CAP Approach
CAP
$5.41M
Comparable Approach
Comparable
$5.62M
Blend (final)
Blend
$5.85M
Owner & transaction history
Pier Rock Wavecrest LLC · 3 yrs held
Pier Rock Wavecrest LLC
since 2022
Last sale
$5.9M
1 recorded transaction
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
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
$5,830,000
ML approach
$5,980,000
CAP Approach
CAP Return
Estimation
6%
$5,860,000
6.5%
$5,410,000
7%
$5,025,000
Blend value · Realmo final
$5.85M
Range $5.26M – $6.43M · ±10% · vs last sale $5.90M (Aug 24 2022)
Last sale anchor
$5.90M
Aug 24 2022
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
$170 / 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
$81,485
Tax year 2023
Assessed value
$4,570,470
Assessed 2023
Previous assessed
$2,604,380
+75.5% YoY
Effective rate
1.78%
On assessed value
Assessed land
$437,500
Assessed improvement
$4,132,970
Land market value
$437,500
Improvement market value
$4,132,970
Total market value
$4,570,470
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Units
26
Total area
34,360 SF
Lot
1.11 ac (48,352 SF)
Zoning code
T
APN
27-38-31-EO-00040.0-0019.00
UPID
US18-4400271
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
Building & site characteristics
From public records
Year built
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
26
Lot
1.11 ac
Current owner
From public records · entity-resolved
Pier Rock Wavecrest LLC
Entity
Mailing address
29 EUGENE ST, MILL VALLEY, CA 94941-1717
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 24, 2022
$5,900,000
Pier Rock Wavecrest LLC
Josephine Thorn
Warranty Deed
$5,600,000 · Servisfirst 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 904 Wavecrest Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
