234 E Merritt Island Cswy, Merritt Island, FL 32952
Two renovated buildings on SR 520 offer a single-tenant showroom and five retail shops for flexible occupancy.
- Added:
- Jul 15, 2024
- Days on Market:
- 714
- Last Refresh:
- Jun 27 at 2:39 am
Property Features for 234 E Merritt Island Cswy
General Information
- Standard status
- Active
- Size
- 16,500 SF
- Lot size
- 1.36 Acres
Listing office Perrone Realty, LLC (407) 733-0725
Listing date Jul 15, 2024
Source Exprealty
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
HighLights
- Total 16,200 SF on 1.36 acres right on SR 520
- Front building: 8,460 SF single‑tenant showroom
- Rear building: 7,740 SF split into (5) tenant shops
- Both buildings have been renovated
- Freshly landscaped property on SR 520 with 35,000+ cars daily
Overview
The buildings are situated right on SR 520 in the heart of Merritt Island business activity, providing substantial roadway exposure with over 35,000 cars daily. This setup offers visibility to passersby while maintaining a mix of accommodation for operators seeking either larger showroom space or smaller, shop-style layouts.
For buyers, the configuration supports multiple acquisition strategies: a tenant could occupy the larger front showroom, while separate operators may lease individual rear shops. The property’s renovated condition and landscaped site help support retail and service-oriented tenant use cases that benefit from storefront-style access and on-site variety across two buildings.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $297.0k | $18.00 |
| − Vacancy | −$25.2k | −$1.53 |
| EGI | $271.8k | $16.47 |
| − OpEx | −$81.5k | −$4.94 |
| NOI | $190.2k | $11.53 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- The Tile Guy — 595 Barrett Dr, Merritt Island, FL 32952
Location Insight
- Map
- Local Demand
- City
- Merritt Island
- County
- Brevard
- State
- Florida
- Longitude
- -80.6958674
- Latitude
- 28.3575254
