Two-Story Medical Office
For Sale
$2,499,900
260 N Tropical, Merritt Island, FL 32953
The property includes elevator service, accessible features, and hurricane-rated windows and doors.
Property Size10,413 SF
Price / SF$240.07
Days on Market282
Property Features for 260 N Tropical
General Information
Standard status
Active
Size
10,413 SF
Elevators
Yes
Property subtype
Business
Additional Details
Property Use
Office / Medical
Taxes and HOA fees
Annual Taxes
$13,973
Amenities
fountain
handicap accessible
Building Details
Building Size
10,413 SF
Year Built
2010
Stories
2
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 2:13PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 10,413-square-foot medical office property was built in 2010 and is arranged across two stories. Building features include an elevator, accessible design, and windows and doors rated for hurricane conditions. On-site parking and a fountain are also part of the property.
Located at 260 N Tropical on Merritt Island, the building sits just north of 520.
Located at 260 N Tropical on Merritt Island, the building sits just north of 520.
Key Highlights
- 10,413‑square‑foot medical office property
- Two‑story building completed in 2010
- Elevator and accessible features
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$141,700
Cap Rate
5.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,834,000
$2.8M
Cap Rate 7%
$2,024,286
$2.0M
Cap Rate 9%
$1,574,444
$1.6M
Market Conditions
NOI Build-Up for 10,413 SF
Gross rent
$224.9K $21.60/SF
− Vacancy
−$36.0K −$3.46/SF
EGI
$188.9K $18.14/SF
− OpEx
−$47.2K −$4.54/SF
NOI
$141.7K $13.61/SF
Area
Brevard County, FL
Vacancy
16.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,834,000
Cap Rate 7%
$2,024,286
Cap Rate 9%
$1,574,444
Alternative Uses
Best Use
Office B
$2.02M
$1.77M – $2.36M
NOI $141,700 @ 7.0% cap · market cap 5.67%
Second Best
Healthcare Medical
$1.87M
$1.64M – $2.18M
NOI $131,054 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$2.75M
$2.40M – $3.21M
NOI $192,307 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,100
Businesses Nearby
Balanced
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Vet Wellcare Vaccinations Clinic at Pet Supermarket — 125 E Merritt Island Cswy, Merritt Island, FL 32953
- Island Animal Hospital in Merritt Island — 105 McLeod St, Merritt Island, FL 32953
- Coris M w DVM — 105 McLeod St, Merritt Island, FL 32953
Frequently Asked Questions
What type of property is this?
Medical Office Space - The property includes elevator service, accessible features, and hurricane-rated windows and doors.
Where is this medical office space located?
The property is located at 260 N Tropical Merritt Island, FL.
What is the asking price?
The asking price for this property is $2,499,900.
What are key features of this property?
This property features: 10,413‑square‑foot medical office property; Two‑story building completed in 2010; Elevator and accessible features
