Renovated Office
1175 N Courtenay Parkway, Merritt Island, FL 32953
For Sale
$1,249,000
Updated office accommodation within a maintained strip plaza setting.
Property Size8,053 SF
Price / SF$155.10
Days on Market126
Property Features for 1175 N Courtenay Parkway
General Information
Standard status
Size
Building Details
Abandoned
Listing Agency:
Perrone Realty, LLC
(321) 452-9838
Listed By:
Ralph S Perrone · License FL #3045618
(407) 733-0725
Source:
Startbrevardsearch
Added: Jul 10
Changed: Nov 10
Last Checked: Nov 12 at 6:50AM
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 renovated office unit provides approximately 800 square feet within a maintained strip plaza. The suite is identified as A2 at 1175 N Courtenay Parkway in Merritt Island, Florida, offering a defined commercial address for office use.
Key Highlights
- Renovated office space measuring 800 sq.ft
- Located in a maintained strip plaza
- Suite A2 at 1175 N Courtenay Parkway, Merritt Island, FL 32953
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$110,020
Cap Rate
8.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,200,400
$2.2M
Cap Rate 7%
$1,571,714
$1.6M
Cap Rate 9%
$1,222,444
$1.2M
Market Conditions
NOI Build-Up for 8,053 SF
Gross rent
$159.4K $19.80/SF
− Vacancy
−$12.8K −$1.58/SF
EGI
$146.7K $18.22/SF
− OpEx
−$36.7K −$4.55/SF
NOI
$110.0K $13.66/SF
Area
Brevard County, FL
Vacancy
8.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,200,400
Cap Rate 7%
$1,571,714
Cap Rate 9%
$1,222,444
Alternative Uses
Best Use
Retail
$1.66M
$1.45M – $1.94M
NOI $116,384 @ 7.0% cap · market cap 9.32%
Second Best
Office B
$1.57M
$1.38M – $1.83M
NOI $110,020 @ 7.0% cap · market cap 8.81%
Theoretical Best
Office A
$2.35M
$2.05M – $2.74M
NOI $164,378 @ 7.0% cap · market cap 13.16%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
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Business Placement
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
$394,300
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Brevard County, FL
Properties on Market for Office Units in Brevard County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Updated office accommodation within a maintained strip plaza setting.
Where is this office unit 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: Renovated office space measuring 800 sq.ft; Located in a maintained strip plaza; Suite A2 at 1175 N Courtenay Parkway, Merritt Island, FL 32953
