Office-Integrated Flex
150 & 160 Venetian Way, Merritt Island, FL 32953
For Sale
$3,449,900
Commercial Sale, Merritt Island, FL
Property Size24,000 SF
Lot Size1.32 Acres
Price / SF$143.75
Days on Market4033
Property Features for 150 & 160 Venetian Way
General Information
Property type
Property subtype
Directions
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
Electric roll up overhead doors
Glass doors and windows
Private bathroom
Air conditioned office
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Perrone Realty, LLC
(321) 452-9838
Listed By:
Ralph S Perrone · License FL #3045618
(407) 733-0725
Added: Oct 29, 2015
Changed: Oct 8
Last Checked: Nov 12 at 5:06PM
MLS# 738544
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 24,000-square-foot flex property combines office and warehouse functionality within a concrete building completed in 2005. The improvements include electric roll-up overhead doors, glass entry doors and windows, an air-conditioned office area, and a private bathroom. Carpet flooring, electric heating, electric cooling, a tar/gravel roof, and public water and sewer serve the property.
The 1.32-acre site is located at 150 & 160 Venetian Way in Merritt Island, Florida. Cable is available, and the property carries no common area maintenance fee. Its combination of warehouse access and dedicated office space supports a range of commercial operating formats.
The 1.32-acre site is located at 150 & 160 Venetian Way in Merritt Island, Florida. Cable is available, and the property carries no common area maintenance fee. Its combination of warehouse access and dedicated office space supports a range of commercial operating formats.
Key Highlights
- 24,000 square feet of office, warehouse, and flex space
- 1.32‑acre site at 150 & 160 Venetian Way
- Electric roll‑up overhead doors and glass doors and windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$222,674
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,453,480
$4.5M
Cap Rate 7%
$3,181,057
$3.2M
Cap Rate 9%
$2,474,156
$2.5M
Market Conditions
NOI Build-Up for 24,000 SF
Gross rent
$374.4K $15.60/SF
− Vacancy
−$31.8K −$1.33/SF
EGI
$342.6K $14.27/SF
− OpEx
−$119.9K −$5.00/SF
NOI
$222.7K $9.28/SF
Area
Brevard County, FL
Vacancy
8.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,453,480
Cap Rate 7%
$3,181,057
Cap Rate 9%
$2,474,156
Alternative Uses
Best Use
Flex RnD
$3.18M
$2.78M – $3.71M
NOI $222,674 @ 7.0% cap · market cap 6.45%
Second Best
Warehouse
$2.36M
$2.07M – $2.76M
NOI $165,362 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$7.00M
$6.12M – $8.16M
NOI $489,888 @ 7.0% cap · market cap 14.20%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
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
$394,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Flex space in Brevard County, FL
Properties on Market for Flex space in Brevard County
Vacancy Rate% for Industrial in South region
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 offices pair with loading access, private facilities, and no common area maintenance fee.
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: 24,000 square feet of office, warehouse, and flex space; 1.32‑acre site at 150 & 160 Venetian Way; Electric roll‑up overhead doors and glass doors and windows
