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Property profile & analytics
OFF-MARKET
Estimated value
$2,905,000
Industrial properties
921 New Hvn Ave Melbourne, FL 32901-5434
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US18-5946997
Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
12,576 SF
Lot
0.1 ac (4,356 SF)
Zoning code
C3
APN
28-37-03-FC-00026.0-0001.00
UPID
US18-5946997
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
-
Reach Commercial Real Estate Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.25M
Comparable Approach
Comparable
$3.35M
Blend (final)
Blend
$2.91M
Owner & transaction history
Flatiron Building LLC · 12 yrs held
Flatiron Building LLC
since 2014
3 recorded transactions
Zoning & alternative use
C3 · Melbourne, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.8M
+23.4%
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%
$2,430,000
6.5%
$2,245,000
7%
$2,085,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,895,000
Current use
RESTAURANT
$4,805,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$2.91M
Range $2.61M – $3.20M · ±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
$231 / 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
$27,661
Tax year 2023
Assessed value
$1,345,890
Assessed 2023
Previous assessed
$1,340,430
+0.4% YoY
Effective rate
2.06%
On assessed value
Assessed land
$135,000
Assessed improvement
$1,210,890
Land market value
$135,000
Improvement market value
$1,210,890
Total market value
$1,345,890
Applied tax rate
34.0000
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
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Status
Off-Market
Year built
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Stories
3
Units
27
Total area
12,576 SF
Lot
0.1 ac (4,356 SF)
Zoning code
C3
APN
28-37-03-FC-00026.0-0001.00
UPID
US18-5946997
Jurisdiction
BREVARD
Zoning & alternative use
C3 · Melbourne, FL
Zoning C3 · permitted uses
C3 · 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
COMMERCIAL (GENERAL) Current
Est. value
$3.9M
RESTAURANT
Est. value
$4.8M
COMMERCIAL (GENERAL) Current
RESTAURANT
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
1926
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
3
Units
27
Lot
0.1 ac
Current owner
From public records · entity-resolved
Flatiron Building LLC
Entity
Mailing address
927 E NEW HVN AVE STE #309, MELBOURNE, FL 32901-5417
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 21, 2026
—
Flatiron Building LLC
—
Deed
related
$699,173 · Wellsfargobankna
May 21, 2014
—
Flatiron Building LLC
Helen Hatsue Tricas
Warranty Deed
$840,000 · Wells Fargo Bank NA
May 21, 2014
$1,200,000
Flatiron Building LLC
Aegean Fixed Income Corp
Warranty 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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