Two-Story Office and Medical
260 N Tropical Merritt Island, FL 32953
For Sale
$2,499,900
COMMERCIAL - Merritt Island, FL
Property Size10,413 SF
Lot Size1.00 Acre
Price / SF$240.07
Days on Market3928
Property Features for 260 N Tropical
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
APN
24-36-35-25-00000.0-0007.00
Size
10,413 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2015
Tax Description
LOTS 7, 8, 9 & 10 EXC E 25 FT OF LOTS 7, 8 & 9 ALSO KNOWN AS PB 3 PG 77
Tax Annual Amount
13974
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Electric
Water source
Public
Building Details
Year built
2010
Number of units
6
Flooring type
Tile, Carpet
Building materials
Concrete
Roof type
Tile, Barrel
Listing Agency:
Perrone Realty, LLC
(321) 452-9838
Listed By:
Ralph S Perrone · License #3045618
(407) 733-0725
Added: Oct 29, 2015
Changed: Jul 29
Last Checked: Jul 30 at 10:06AM
MLS# 738542
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.
Investment Insights
Based on property information with market context.
Brand-new two-story office and medical complex offering an elevator for interior access and handicap accessibility throughout. The exterior includes a barrel tile roof, designer color finishes, and a fountain feature. The building is designed with hurricane-rated windows and doors, supporting durable performance in severe weather conditions.
Located in Merritt Island, just north of 520, the property includes plenty of on-site parking to support patients, visitors, and daily staff access. The overall presentation emphasizes a professional office/medical environment with a polished exterior appearance.
Located in Merritt Island, just north of 520, the property includes plenty of on-site parking to support patients, visitors, and daily staff access. The overall presentation emphasizes a professional office/medical environment with a polished exterior appearance.
Key Highlights
- 2‑story office/medical complex built in 2010 with elevator
- Handicap accessible
- Concrete construction with tile and carpet flooring
Financial Insights For Office B
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 | $224.9k | $21.60 |
| − Vacancy | −$36.0k | −$3.46 |
| EGI | $188.9k | $18.14 |
| − OpEx | −$47.2k | −$4.54 |
| NOI | $141.7k | $13.61 |
10,413 SF · lease $21.60/SF/yr · vacancy 16.00% · expense 25.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Brand-new two-story office/medical complex with elevator, hurricane-rated windows and doors, and handicap accessibility.
Where is this office building 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: 2‑story office/medical complex built in 2010 with elevator; Handicap accessible; Concrete construction with tile and carpet flooring
