Multi-Tenant Showroom
For Sale
$3,749,900
234 E Merritt Island Causeway, Merritt Island, FL 32952
Two renovated buildings combine a single-occupant showroom with five separate shop spaces.
Property Size16,500 SF
Lot Size1.36 Acres
Price / SF$227.27
Days on Market282
Property Features for 234 E Merritt Island Causeway
General Information
Standard status
Active
Size
16,500 SF
Lot size
1.36 Acres
Property subtype
Business
Additional Details
Traffic Count
35,000 vehicles/day
Taxes and HOA fees
Annual Taxes
$22,599
Building Details
Building Size
16,500 SF
Year Built
1956
Buildings
2
Tenancy
Multi
Listing Agency:
Perrone Realty, LLC
Listed By:
Ralph S Perrone · License #3045618
(321) 452-9838
Source:
Inthehomezonerealty
Added: Jan 19
Changed: Oct 26
Last Checked: Oct 26 at 3:39PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The Merritt Island property comprises two renovated buildings on 1.36 acres. The front building contains an 8,460-square-foot showroom configured for one tenant. A second, 7,740-square-foot building is divided into five tenant shop spaces. The grounds have also been freshly landscaped.
The property fronts SR 520, where daily traffic exceeds 35,000 cars, and sits within Merritt Island’s business area. Its showroom and multi-shop configuration provide a mix of commercial spaces within one property.
The property fronts SR 520, where daily traffic exceeds 35,000 cars, and sits within Merritt Island’s business area. Its showroom and multi-shop configuration provide a mix of commercial spaces within one property.
Key Highlights
- 8,460‑square‑foot showroom in the front building
- Rear building offers 7,740 square feet divided into 5 tenant shops
- Both buildings have been renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$190,229
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,804,580
$3.8M
Cap Rate 7%
$2,717,557
$2.7M
Cap Rate 9%
$2,113,656
$2.1M
Market Conditions
NOI Build-Up for 16,500 SF
Gross rent
$297.0K $18.00/SF
− Vacancy
−$25.2K −$1.53/SF
EGI
$271.8K $16.47/SF
− OpEx
−$81.5K −$4.94/SF
NOI
$190.2K $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%
$3,804,580
Cap Rate 7%
$2,717,557
Cap Rate 9%
$2,113,656
Alternative Uses
Best Use
Retail
$2.72M
$2.38M – $3.17M
NOI $190,229 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.35M
$3.81M – $5.08M
NOI $304,722 @ 7.0% cap · market cap 8.13%
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
Lease Details
35,000 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,799
Businesses Nearby
528k
Monthly Visits Nearby
Balanced
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Cabinets Plus & Design, Inc — 250 S Courtenay Pkwy, Merritt Island, FL 32952
- GALL PAINTING AND HOME REPAIR — 340 Myrtice Ave #40, Merritt Island, FL 32953
- Holmquist Ceramic Tile — 385 Island Oaks Pl, Merritt Island, FL 32953
- Devco Tile — 543 N Courtenay Pkwy, Merritt Island, FL 32953
Frequently Asked Questions
What type of property is this?
Showroom - Two renovated buildings combine a single-occupant showroom with five separate shop spaces.
Where is this showroom located?
The property is located at 234 E Merritt Island Causeway Merritt Island, FL.
What is the asking price?
The asking price for this property is $3,749,900.
What are key features of this property?
This property features: 8,460‑square‑foot showroom in the front building; Rear building offers 7,740 square feet divided into 5 tenant shops; Both buildings have been renovated
