Retail Storefront with Wood
New
For Sale
Contact for pricing
230 E Merritt Island Causeway 101, Merritt Island, FL 32952
A newly finished interior includes fresh drywall, suspended ceilings, lighting, and electrical service.
Property Size16,200 SF
Price / SF$0.14
Days on Market2
Property Features for 230 E Merritt Island Causeway 101
General Information
Standard status
Active
Size
16,200 SF
Amenities
wood floors
free water
new landscaping
new dry wall
drop ceilings
lighting
electrical
Listing Agency:
Perrone Realty, LLC
(321) 452-9838
Listed By:
Ralph S Perrone · License #3045618
(407) 733-0725
Source:
Startbrevardsearch
Added: Oct 23
Last Checked: Oct 23 at 5:54PM
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 retail storefront offers 16,200 square feet, with wood flooring and a newly completed interior shell. Improvements include new drywall, drop ceilings, lighting, and electrical work. The building’s front has been updated with stucco and glass storefronts, and the property also features refreshed landscaping and ample parking.
The property is located at 230 E Merritt Island Causeway on Merritt Island, Florida, with visibility from 520. Water is provided at no charge.
The property is located at 230 E Merritt Island Causeway on Merritt Island, Florida, with visibility from 520. Water is provided at no charge.
Key Highlights
- 16,200 square feet of retail storefront space
- New stucco facade and glass storefronts
- Interior improvements include drywall, drop ceilings, lighting, and electrical
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$186,770
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,735,400
$3.7M
Cap Rate 7%
$2,668,143
$2.7M
Cap Rate 9%
$2,075,222
$2.1M
Market Conditions
NOI Build-Up for 16,200 SF
Gross rent
$291.6K $18.00/SF
− Vacancy
−$24.8K −$1.53/SF
EGI
$266.8K $16.47/SF
− OpEx
−$80.0K −$4.94/SF
NOI
$186.8K $11.53/SF
Area
Brevard County, FL
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,735,400
Cap Rate 7%
$2,668,143
Cap Rate 9%
$2,075,222
Alternative Uses
Best Use
Retail
$2.67M
$2.33M – $3.11M
NOI $186,770 @ 7.0% cap · market cap 8,131.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.27M
$3.74M – $4.99M
NOI $299,182 @ 7.0% cap · market cap 13,024.90%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,799
Businesses Nearby
528k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 30%
Apparel 21%
Shops & Services 18%
Groceries 11%
The Home Depot
Home Improvements & Furnishings
47,314 visits/mo
0.3 miles
Publix
Groceries
44,037 visits/mo
0.3 miles
T.J. Maxx
Apparel
41,205 visits/mo
0.4 miles
Macy's
Apparel
39,001 visits/mo
0.5 miles
BJ's Wholesale Club
Superstores
35,532 visits/mo
0.3 miles
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 Retail in South region
Similar Off Market Nearby
- Awesome Blossoms Designs — 158 E Merritt Island Cswy, Merritt Island, FL 32952
- Carousel Florist — 237 N Courtenay Pkwy, Merritt Island, FL 32952
Frequently Asked Questions
What type of property is this?
Storefront property - A newly finished interior includes fresh drywall, suspended ceilings, lighting, and electrical service.
Where is this storefront property located?
The property is located at 230 E Merritt Island Causeway 101 Merritt Island, FL.
What are key features of this property?
This property features: 16,200 square feet of retail storefront space; New stucco facade and glass storefronts; Interior improvements include drywall, drop ceilings, lighting, and electrical
