Neighborhood Retail Strip
1175 N Courtenay Parkway Merritt Island, FL 32953
1175 N Courtenay Parkway, Merritt Island, FL, 32953
$1,249,000
For Sale
$1,249,000
Well-positioned retail strip mall listed for sale in Brevard County.
Property Size8,053 SF
Price / SF$155.10
Days on Market183
Property Features for 1175 N Courtenay Parkway
General Information
- Standard status
- Active
- Size
- 8,053 SF
Building Details
- Year Built
- 1986
Listing agency
Perrone Realty, LLC
(407) 733-0725
Listed by
Ralph S Perrone · License #3045618
(407) 733-0725
Source
Evrealestate
Added: Jan 19 Updated: Jul 20 at 5:21PM Checked: Jul 21 at 4:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Perrone Realty, LLC
Investment Insights
Based on property information with market context.
This for-sale retail strip mall offers a multi-tenant storefront environment within a commercial shopping center setting. The property totals 8,053 square feet, providing flexible space for compatible retail users.
Located in Brevard County, the asset is addressed at 1175 N Courtenay Parkway in Merritt Island, Florida. Prospective tenants and buyers can review the specific unit layout and frontage during due diligence to confirm operational fit.
With its strip-mall configuration and established retail property type, the offering is suited to parties looking for a small retail center opportunity on a defined commercial footprint.
Located in Brevard County, the asset is addressed at 1175 N Courtenay Parkway in Merritt Island, Florida. Prospective tenants and buyers can review the specific unit layout and frontage during due diligence to confirm operational fit.
With its strip-mall configuration and established retail property type, the offering is suited to parties looking for a small retail center opportunity on a defined commercial footprint.
Key Highlights
- Year built: 1986
- Parking includes attached parking, guest parking, and a garage
- Located in Brevard County
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $145.0k | $18.00 |
| − Vacancy | −$12.3k | −$1.53 |
| EGI | $132.6k | $16.47 |
| − OpEx | −$39.8k | −$4.94 |
| NOI | $92.8k | $11.53 |
8,053 SF · lease $18.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.33M
$1.16M – $1.55M
NOI $92,843 @ 7.0% cap · market cap 7.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,723 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Jae's Therapeutic Touch ...
Alternative Medicine Practice
Security First Title ...
Title Company
The ARK Church of Brevard ...
Church
US Defense Investigation ...
Military Base
Fantastique Fashions Upscale ...
Discount Store
Similar For Sale Nearby
FAQs
What type of property is this?
Strip mall - Well-positioned retail strip mall listed for sale in Brevard County.
Where is this strip mall located?
The property is located at 1175 N Courtenay Parkway Merritt Island, FL.
What is the asking price?
The asking price for this property is $1,249,000.
What are key features of this property?
This property features: Year built: 1986; Parking includes attached parking, guest parking, and a garage; Located in Brevard County
