Flex Space with
For Sale
$3,449,900
150 & 160 Venetian Way, Merritt Island, FL 32953
Air-conditioned office area, private restroom, and electric roll-up doors support varied commercial operations.
Property Size24,000 SF
Price / SF$143.75
Days on Market427
Property Features for 150 & 160 Venetian Way
General Information
Standard status
Active
Size
24,000 SF
Property subtype
Commercial
Lease Term
[]
Amenities
Private bathroom
Air conditioned office
Building Details
Year Built
2005
Listing Agency:
Perrone Realty,LLC
Listed By:
Ralph S Perrone · License #3045618
(407) 733-0725
Source:
Onesothebysrealty
Added: Aug 13, 2025
Changed: Oct 13
Last Checked: Oct 12 at 8:33PM
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 flex property combines warehouse functionality with finished office space. The improvements include electric roll-up overhead doors, glass entry doors and windows, an air-conditioned office area, and a private bathroom. The building contains approximately 24,000 square feet and is suited to businesses requiring a combination of work, storage, and administrative areas.
The property includes 150 and 160 Venetian Way in Merritt Island, Florida. No common area maintenance fee is associated with the property, providing a straightforward ownership structure for the two-address flex space.
The property includes 150 and 160 Venetian Way in Merritt Island, Florida. No common area maintenance fee is associated with the property, providing a straightforward ownership structure for the two-address flex space.
Key Highlights
- Approximately 24,000 square feet of flex space
- Electric roll‑up overhead doors
- Air‑conditioned office area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$245,045
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,900,900
$4.9M
Cap Rate 7%
$3,500,643
$3.5M
Cap Rate 9%
$2,722,722
$2.7M
Market Conditions
NOI Build-Up for 24,000 SF
Gross rent
$403.2K $16.80/SF
− Vacancy
−$26.2K −$1.09/SF
EGI
$377.0K $15.71/SF
− OpEx
−$131.9K −$5.50/SF
NOI
$245.0K $10.21/SF
Area
Brevard County, FL
Vacancy
6.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,900,900
Cap Rate 7%
$3,500,643
Cap Rate 9%
$2,722,722
Alternative Uses
Best Use
Flex RnD
$3.50M
$3.06M – $4.08M
NOI $245,045 @ 7.0% cap · market cap 7.10%
Second Best
Warehouse
$2.36M
$2.07M – $2.76M
NOI $165,362 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$6.33M
$5.54M – $7.39M
NOI $443,232 @ 7.0% cap · market cap 12.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
507
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- Filipino Kitchen — 618 Heather Stone Dr, Merritt Island, FL 32953
Frequently Asked Questions
What type of property is this?
Flex space - Air-conditioned office area, private restroom, and electric roll-up doors support varied commercial operations.
Where is this flex space located?
The property is located at 150 & 160 Venetian Way Merritt Island, FL.
What is the asking price?
The asking price for this property is $3,449,900.
What are key features of this property?
This property features: Approximately 24,000 square feet of flex space; Electric roll‑up overhead doors; Air‑conditioned office area
