Built-Out Office
2460 N Courtenay Parkway, Merritt Island, FL 32953
For Sale
$2,699,900
Commercial Sale, Merritt Island, FL
Property Size15,428 SF
Lot Size1.45 Acres
Price / SF$175
Days on Market4030
Property Features for 2460 N Courtenay Parkway
General Information
Property type
Property subtype
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Property Use
Condition
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Heating system
Cooling system
Building Details
Year built
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Perrone Realty, LLC
(321) 452-9838
Listed By:
Ralph S Perrone · License #3045618
(407) 733-0725
Added: Oct 29, 2015
Changed: Oct 27
Last Checked: Nov 9 at 4:06AM
MLS# 738515
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.
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Investment Insights
Based on property information with market context.
This 15,428-square-foot office property includes multiple units with private restrooms and finished office interiors. Concrete construction, carpet and tile flooring, electric heating and cooling, and a tar-and-gravel roof define the existing improvements. The building was constructed in 1965 and is situated on 1.45 acres.
Located at 2460 N Courtenay Parkway in Merritt Island, the property has public sewer service and cable availability. The office units are generally leased, providing an established occupancy profile for the asset.
Located at 2460 N Courtenay Parkway in Merritt Island, the property has public sewer service and cable availability. The office units are generally leased, providing an established occupancy profile for the asset.
Key Highlights
- 15,428 square feet of office space on 1.45 acres
- Multiple office units with private restrooms
- Finished office interiors throughout the units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$210,777
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,215,540
$4.2M
Cap Rate 7%
$3,011,100
$3.0M
Cap Rate 9%
$2,341,967
$2.3M
Market Conditions
NOI Build-Up for 15,428 SF
Gross rent
$305.5K $19.80/SF
− Vacancy
−$24.4K −$1.58/SF
EGI
$281.0K $18.22/SF
− OpEx
−$70.3K −$4.55/SF
NOI
$210.8K $13.66/SF
Area
Brevard County, FL
Vacancy
8.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,215,540
Cap Rate 7%
$3,011,100
Cap Rate 9%
$2,341,967
Alternative Uses
Best Use
Office B
$3.01M
$2.63M – $3.51M
NOI $210,777 @ 7.0% cap · market cap 7.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.50M
$3.94M – $5.25M
NOI $314,916 @ 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
513
Businesses Nearby
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Business Placement
Demographics for 32953, FL
24,430
Population
11,566
Households
2.1
Avg Household Size
51
Median Age
35%
College-Educated
95%
High-School Grad
39.8 sq mi
ZIP Area
614
Density / Sq Mi
$84,248
Median Household Income
$41,534
Median Earnings
$1,300
Median Rent
$394,300
Median Home Value
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Market
Average Price Trend$/SF for Office Units in Brevard County, FL
Properties on Market for Office Units in Brevard County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Office units feature private restrooms and completed interior build-outs.
Where is this office unit located?
The property is located at 2460 N Courtenay Parkway Merritt Island, FL.
What is the asking price?
The asking price for this property is $2,699,900.
What are key features of this property?
This property features: 15,428 square feet of office space on 1.45 acres; Multiple office units with private restrooms; Finished office interiors throughout the units
