Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Industrial properties
950 Melbourne Ave Melbourne, FL 32901-5593
Individually Owned
7-yr Hold
Free & Clear
Property ID
US18-5578328
Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
1923
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
1,902 SF
Lot
0.19 ac (8,276 SF)
Zoning code
C3
APN
28-37-02-FE-00025.0-0019.00
UPID
US18-5578328
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
-
El Ambia Cubano Cuban Restaurant Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$340k
Comparable Approach
Comparable
$540k
Blend (final)
Blend
$535k
Owner & transaction history
Christopher Wahlen · 7 yrs held
Christopher Wahlen
since 2018
3 recorded transactions
Zoning & alternative use
C3 · Melbourne, FL
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 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%
$370,000
6.5%
$340,000
7%
$315,000
Blend value · Realmo final
$535k
Range $482k – $589k · ±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
$281 / 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
$3,140
Tax year 2023
Assessed value
$247,700
Assessed 2023
Previous assessed
$134,110
+84.7% YoY
Effective rate
1.27%
On assessed value
Assessed land
$247,500
Assessed improvement
$200
Land market value
$247,500
Improvement market value
$200
Total market value
$247,700
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
1923
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Units
2
Total area
1,902 SF
Lot
0.19 ac (8,276 SF)
Zoning code
C3
APN
28-37-02-FE-00025.0-0019.00
UPID
US18-5578328
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.
Building & site characteristics
From public records
Year built
1923
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
2
Lot
0.19 ac
Current owner
From public records · entity-resolved
Christopher Wahlen
Individual
Free & Clear · 7 yrs held
Mailing address
PO BOX 1560, MELBOURNE, FL 32902-1560
Ownership since
2018
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
Nov 16, 2018
$85,000
Christopher Wahlen
Wallen,henry JR
Warranty Deed
—
Jul 9, 2008
—
Henry Wallen JR.
Wallen,ruth B
Quit Claim Deed
related
—
Oct 22, 1998
—
Manatee Management & Marketing
Watrous,james G
Quit Claim Deed
related
$16,508 · Seller
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 950 Melbourne 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.
