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Established Medical Office Investment

255 Fortenberry Rd, Merritt Island, FL 32952

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For Sale

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Profitable medical office near new hospital, Merritt Island, Florida.

Type:Office

Property size:

5,550 SF

Price / SF:

$209/SF

HighLights

Impressive 8.4% Cap Rate for lucrative income potential.
Prime location near Merritt Island's new Health First Hospital.
Turnkey 5,550 SF medical office suite ready for immediate occupancy.
Six fully built‑out exam rooms, lab, nursing stations, and physician offices.
BU‑1 zoning offers commercial flexibility.
Located in a high‑traffic area with a promising demographic profile.

We can help!

Contact an agent

Jackie Pope

For Sale

Contact for pricing

Profitable medical office near new hospital, Merritt Island, Florida.

Type:Office

Property size:

5,550 SF

Price / SF:

$209/SF

Added:: Mar 6, 2026
Days on Market:: 113
Last Refresh:: Mar 16 at 3:05 pm

Property Features for 255 Fortenberry Rd

General Information

Standard status: Active
Size: 5,550 SF
Property subtype: Office

Building Details

Year Built: 1974

We can help!

Contact an agent

Jackie Pope

Listing office Watson Commercial Real Estate, Inc.

Listing date Mar 6, 2026

Source Crexi

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 Watson Commercial Real Estate, Inc.

HighLights

Impressive 8.4% Cap Rate for lucrative income potential.
Prime location near Merritt Island's new Health First Hospital.
Turnkey 5,550 SF medical office suite ready for immediate occupancy.
Six fully built‑out exam rooms, lab, nursing stations, and physician offices.
BU‑1 zoning offers commercial flexibility.
Located in a high‑traffic area with a promising demographic profile.

Overview

This 5,550 square foot medical office is located at 255 Fortenberry Rd Unit A1, Merritt Island, FL 32952. The property is an established medical office with an 8.4% Cap Rate. It is located near the new Health First Hospital. The property features six fully built-out exam rooms, a spacious waiting room with a reception area, dedicated lab and nursing stations, and multiple physician offices. The property is zoned BU-1, offering commercial flexibility. This comprehensive medical suite is suitable for healthcare professionals. The property is located in a high-traffic area.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$119.9k	$21.60
− Vacancy	−$19.2k	−$3.46
EGI	$100.7k	$18.14
− OpEx	−$25.2k	−$4.54
NOI	$75.5k	$13.61

5,550 SF · lease $21.60/SF/yr · vacancy 16.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$1.08M

$944.1K – $1.26M (±1% cap)

NOI $75,524 @ 7.0% cap · market cap 6.51%

Second Best

Healthcare Medical

$997.9K

$873.1K – $1.16M (±1% cap)

NOI $69,850 @ 7.0% cap · market cap 6.02%

Theoretical Best

Office A

$1.46M

$1.28M – $1.71M (±1% cap)

NOI $102,497 @ 7.0% cap · market cap 8.84%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Alternacare of Brevard MD ... Medical Clinic ROCKLEDGE HMA MEDICAL ... Medical Group Atlantic Coast Medical Physician Dr. Mioara C. ... Physician Dr. Janie F. ... Physician

Suggested Use

Similar Places Nearby

Island Animal Hospital in Merritt Island — 105 McLeod St, Merritt Island, FL 32953
Collins Animal Hospital — 590 S Plumosa St, Merritt Island, FL 32952
Vet Wellcare Vaccinations Clinic at Pet Supermarket — 125 E Merritt Island Cswy, Merritt Island, FL 32953
Coris M w DVM — 105 McLeod St, Merritt Island, FL 32953

Location Insight

Map
Local Demand

City: Merritt Island
County: Brevard
State: Florida
Longitude: -80.6981154
Latitude: 28.3554693

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For sale
Medical Office Space
FL
Merritt Island
32952
255 Fortenberry Rd

What type of property is this?

Medical Office Space - Profitable medical office near new hospital, Merritt Island, Florida.

Where is this medical office space located?

The property is located at 255 Fortenberry Rd Merritt Island, FL.

What is the asking price?

The asking price for this property is $1,160,000.

What are key features of this property?

This property features: Impressive 8.4% Cap Rate for lucrative income potential.; Prime location near Merritt Island's new Health First Hospital.; Turnkey 5,550 SF medical office suite ready for immediate occupancy.