Automotive Service
For Sale
$9,998,900
1850 E Merritt Island Cswy, Merritt Island, FL 32952
Former dealership property combining professional offices, vehicle service areas, storage, and diverse interior amenity spaces.
Property Size63,125 SF
Price / SF$158.40
Days on Market455
Property Features for 1850 E Merritt Island Cswy
General Information
Standard status
Active
Size
63,125 SF
Property subtype
Commercial
Additional Details
Office Build-Out
20,000 SF
Amenities
restaurant
gym
playroom
daycare
movie theater
conference rooms
barber shop
game room
Building Details
Year Built
2003
Listing Agency:
Perrone Realty
Listed By:
Ralph S Perrone · License #3045618
(407) 733-0725
Source:
Spacecoasthomefinders
Added: Jul 16, 2025
Changed: Oct 1
Last Checked: Oct 12 at 7:45PM
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
Investment Insights
Based on property information with market context.
The property previously operated as a car dealership and includes professional and executive office areas alongside vehicle service bays, warehouse space, storage, and a detailing department. The layout also includes several specialized interior areas, including a restaurant, gym, daycare, playroom, movie theater, conference rooms, barber shop, and game room.
Located at 1850 E Merritt Island Causeway in Merritt Island, Florida, the property offers a broad combination of automotive, office, storage, service, and recreational improvements within one facility. Its existing mix of spaces supports multiple operational functions without relying on a single-use configuration.
Located at 1850 E Merritt Island Causeway in Merritt Island, Florida, the property offers a broad combination of automotive, office, storage, service, and recreational improvements within one facility. Its existing mix of spaces supports multiple operational functions without relying on a single-use configuration.
Key Highlights
- Former car dealership with professional and executive office areas
- Vehicle service bays, warehouse space, storage, and detailing department
- Interior restaurant, gym, daycare, and playroom areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$859,005
Cap Rate
8.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,180,100
$17.2M
Cap Rate 7%
$12,271,500
$12.3M
Cap Rate 9%
$9,544,500
$9.5M
Market Conditions
NOI Build-Up for 63,125 SF
Gross rent
$1.36M $21.60/SF
− Vacancy
−$218.2K −$3.46/SF
EGI
$1.15M $18.14/SF
− OpEx
−$286.3K −$4.54/SF
NOI
$859.0K $13.61/SF
Area
Brevard County, FL
Vacancy
16.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,180,100
Cap Rate 7%
$12,271,500
Cap Rate 9%
$9,544,500
Alternative Uses
Best Use
Office B
$12.27M
$10.74M – $14.32M
NOI $859,005 @ 7.0% cap · market cap 8.59%
Second Best
Retail
$10.40M
$9.10M – $12.13M
NOI $727,768 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$16.65M
$14.57M – $19.43M
NOI $1,165,793 @ 7.0% cap · market cap 11.66%
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
251
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32952, FL
20,670
Population
10,108
Households
2
Avg Household Size
52
Median Age
45%
College-Educated
96%
High-School Grad
12.3 sq mi
ZIP Area
1,680
Density / Sq Mi
$98,651
Median Household Income
$53,478
Median Earnings
$1,353
Median Rent
$404,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Similar Off Market Nearby
- Erdman Automotive Express Service — 1555 e merritt island causeway, merritt island, fl 32952
- Ultimate Auto Glass & Electronics of Merritt Island — 1555 E Merritt Island Cswy, Merritt Island, FL 32952
- Ron's European Auto Service of Brevard, Inc. — 1559 E Merritt Island Cswy A, Merritt Island, FL 32952
- Buddy Boys Auto Painting and Body Shop — 1559 E Merritt Island Cswy C, Merritt Island, FL 32952
- A Auto Works Auto Repair — 1789 E Merritt Island Cswy, Merritt Island, FL 32952
Frequently Asked Questions
What type of property is this?
Auto shop - Former dealership property combining professional offices, vehicle service areas, storage, and diverse interior amenity spaces.
Where is this auto shop located?
The property is located at 1850 E Merritt Island Cswy Merritt Island, FL.
What is the asking price?
The asking price for this property is $9,998,900.
What are key features of this property?
This property features: Former car dealership with professional and executive office areas; Vehicle service bays, warehouse space, storage, and detailing department; Interior restaurant, gym, daycare, and playroom areas
