Neighborhood Retail Strip
For Sale
$1,249,000
1175 N Courtenay Parkway, Merritt Island, FL 32953
Well-positioned retail strip mall listed for sale in Brevard County.
Property Size8,053 SF
Price / SF$155.10
Days on Market274
Property Features for 1175 N Courtenay Parkway
General Information
Standard status
Active
Size
8,053 SF
Taxes and HOA fees
Annual Taxes
$8,948
Amenities
Attached, Guest, Garage
Building Details
Building Size
8,053 SF
Year Built
1986
Listing Agency:
Perrone Realty, LLC
Listed By:
Ralph S Perrone · License #3045618
(407) 733-0725
Source:
Evrealestate
Added: Jan 19
Changed: Oct 11
Last Checked: Oct 19 at 5:03AM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,843
Cap Rate
7.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,856,860
$1.9M
Cap Rate 7%
$1,326,329
$1.3M
Cap Rate 9%
$1,031,589
$1.0M
Market Conditions
NOI Build-Up for 8,053 SF
Gross rent
$145.0K $18.00/SF
− Vacancy
−$12.3K −$1.53/SF
EGI
$132.6K $16.47/SF
− OpEx
−$39.8K −$4.94/SF
NOI
$92.8K $11.53/SF
Area
Brevard County, FL
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,856,860
Cap Rate 7%
$1,326,329
Cap Rate 9%
$1,031,589
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 authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
102k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 48%
Shops & Services 34%
Apparel 12%
Home Improvements & Furnishings 6%
McDonald's
Dining
25,882 visits/mo
0.3 miles
Goodwill
Apparel
12,721 visits/mo
0.5 miles
Cumberland Farms
Shops & Services
11,992 visits/mo
0.3 miles
7-Eleven
Shops & Services
7,402 visits/mo
0.2 miles
Burger King
Dining
7,360 visits/mo
0.4 miles
Demographics for 32953, FL
24,430
Population
11,566
Households
2.1
Avg Household Size
51
Median Age
35%
College-Educated
95%
High-School Grad
39.8 sq mi
ZIP Area
614
Density / Sq Mi
$84,248
Median Household Income
$41,534
Median Earnings
$1,300
Median Rent
$394,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
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
