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    The Largest CRE Database in the US with Over 1 Million Listings

    200 Bounty St, Unit 2208 Merritt Island, FL 32952

    Sponsored
    For Sale
    $139,000

    MULTI_FAMILY - Merritt Island, FL

    Property size:
    704 SF
    Lot size:
    0.05 Acres
    Days on Market:
    25
    Last Refresh:
    Feb 4 at 11:06 am

    Property Features for 200 Bounty St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Rooms
    Bathroom 1, Bedroom 1, Bedroom 2
    Bedrooms
    2
    Bathrooms
    1
    APN
    24-37-31-00-00040.E-0000.00
    Parking features
    Carport
    Patio and Porch features
    Patio
    Pets allowed
    Cats OK, Call, Number Limit
    Interior features
    Kitchen Island, Pantry, Walk-In Closet(s)
    Appliances
    Dishwasher, Electric Range, Electric Water Heater, Refrigerator
    Size
    704 SF
    Lot size
    0.05 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    1964
    Floors in Building
    1
    Building materials
    Block, Concrete
    Roof type
    Concrete, Tar/Gravel

    We can help!

    Listing Contact
    Peggy Baker
    Peggy Baker

    COASTAL LIVING REALTY & INVESTMENTS, LLC. (321) 961-4062

    Listing agent Peggy Baker (321) 961-4062

    Listing date Jan 11, 2026

    MLS# 1066071 Listing URL

    Copyright © 2026 Space Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Remodeled Condo Near Beach

    This stunning remodeled condo is located approximately 4 miles, or 6 minutes, from the beach. The property features an open floor plan, white shaker cabinetry, white quartz counters, and stainless appliances. Luxury vinyl plank flooring extends throughout the 704 square foot residence. New doors and trim are installed, and the unit benefits from ample natural lighting. A deeded carport is conveniently located near the entrance. The property is situated in a Banana River community and offers maintenance-free living. The carrying charge covers the A/C unit, water heater, water/sewer, trash, and property taxes. Community amenities include a year-round heated pool, new smart washer/dryers in the laundry area, a basketball court, playground, and bike parking. The location provides easy access to Orlando, the Space Center, the Indian River, and Port Canaveral. The property is located in Merritt Island, Florida.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential income properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Merritt Island
    County
    Brevard
    State
    Florida
    Longitude
    -80.666075
    Latitude
    28.359739

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    FAQs

    What type of property is this?
    Residential income property - Remodeled condo with open floor plan, near the beach.
    Where is this residential income property located?
    The property is located at 200 Bounty St, Unit 2208 Merritt Island, FL.
    What is the asking price?
    The asking price for this property is $139,000.
    What are key features of this property?
    This property features: - Completely remodeled and only 4 miles (6 minutes) from the beach.; - Enjoy maintenance-free living; carrying charge covers A/C, water heater, water/sewer, trash, and property taxes.; - Open floor plan featuring white shaker cabinetry, white quartz counters, stainless appliances, and luxury vinyl plank flooring.
    (321) 961-4062
    Request Owner's contact information
    200 Bounty St, Unit 2208 Merritt Island, FL 32952
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    Merritt Island, FL 32952
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    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
    200 Bounty St, Unit 2208 Merritt Island, FL 32952
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    We can help!
    Listing Contact
    Peggy Baker
    Peggy Baker
    Real Estate License ID: 3032847
    (321) 961-4062
    Learn more
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