Mixed-Use Property with Service
For Sale
$9,998,900
1850 E Merritt Island Causeway, Merritt Island, FL 32952
Commercial Sale, Merritt Island, FL
Property Size63,125 SF
Lot Size6.92 Acres
Price / SF$158.40
Days on Market1122
Property Features for 1850 E Merritt Island Causeway
General Information
Property type
Commercial Sale
Property subtype
Other
Security features
Security
Directions
From US1 head east on SR520. Building is located on SR520 on Merritt Island.
Subdivision
251 - Central Merritt Island
Standard status
Active
APN
24-37-31-00-00001.1-0000.00
Size
63,125 SF
Lot size
6.92 Acres
Taxes and HOA fees
Tax Year
2022
Tax Description
LOTS 73 TO 82 & S 30.5 FT OF LOT 83 OF PB 4 PG 35 AND PART OF GOVT LOTS 1 & 4 LYING W OF PB 4 PG 35, E OF NORTH BANANA R
Tax Annual Amount
98252
Legal Description
LOTS 73 TO 82 & S 30.5 FT OF LOT 83 OF PB 4 PG 35 AND PART OF GOVT LOTS 1 & 4 LYING W OF PB 4 PG 35, E OF NORTH BANANA R
Utilities
Utilities
Cable Available
Heating system
Zoned
Cooling system
Zoned
Water source
Public
Amenities
professional & executive offices
service bays
warehouse
storage
detail department
restaurant
gym
playroom
daycare
movie theater
conference rooms
barber shop
game room
Building Details
Year built
2003
Number of units
2
Flooring type
Tile, Carpet
Building materials
Concrete
Roof type
Mixed
Listing Agency:
Perrone Realty, LLC
(321) 452-9838
Listed By:
Ralph S Perrone · License #3045618
(407) 733-0725
Added: Sep 20, 2023
Changed: Oct 14
Last Checked: Oct 15 at 6:06AM
MLS# 975630
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.
Investment Insights
Based on property information with market context.
Built in 2003, this 63,125-square-foot mixed-use facility occupies 6.92 acres. Its improvements include office space, vehicle-service bays, warehouse and storage areas, and a detailing department. Additional interior uses include a restaurant, gym, daycare, playroom, movie theater, conference rooms, barber shop, and game room.
The building has concrete construction, zoned heating and cooling, and a mixed roof. Tile and carpet are used for flooring. Public water and cable availability are listed for the property.
The building has concrete construction, zoned heating and cooling, and a mixed roof. Tile and carpet are used for flooring. Public water and cable availability are listed for the property.
Key Highlights
- 63,125 square feet on 6.92 acres
- Office, service‑bay, warehouse, storage, and detailing areas
- Restaurant, gym, daycare, playroom, movie theater, conference rooms, barber shop, and game room
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
Mixed Use
$10.46M
$9.16M – $12.21M
NOI $732,408 @ 7.0% cap · market cap 7.32%
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
247
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The facility combines office, vehicle-service, storage, and several community-oriented spaces.
Where is this mixed-use property located?
The property is located at 1850 E Merritt Island Causeway 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: 63,125 square feet on 6.92 acres; Office, service‑bay, warehouse, storage, and detailing areas; Restaurant, gym, daycare, playroom, movie theater, conference rooms, barber shop, and game room
