Two-Story Office Building with
For Sale
$2,499,900
260 N Tropical, Merritt Island, FL 32953
Commercial Sale, Merritt Island, FL
Property Size10,413 SF
Lot Size1.00 Acre
Price / SF$240.07
Days on Market4018
Property Features for 260 N Tropical
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From 520, North on Tropical Trail between Hibiscus and Tangerine
Subdivision
251 - Central Merritt Island
Standard status
Active
APN
24-36-35-25-00000.0-0007.00
Size
10,413 SF
Lot size
1.00 Acre
Additional Details
Property Use
Office / Medical
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
Legal Description
LOTS 7, 8, 9 & 10 EXC E 25 FT OF LOTS 7, 8 & 9 ALSO KNOWN AS PB 3 PG 77
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Electric
Water source
Public
Amenities
fountain
handicap accessible
hurricane rated windows and doors
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
(407) 733-0725
Added: Oct 29, 2015
Changed: Oct 26
Last Checked: Oct 28 at 8:06PM
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.
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Investment Insights
Based on property information with market context.
This 10,413-square-foot office building occupies 1 acre and was constructed in 2010 with concrete materials. The two-story layout includes an elevator, tile and carpet flooring, electric cooling, and a barrel tile roof. Hurricane-rated windows and doors, along with handicap accessibility, support a range of office and medical office uses. On-site parking and a fountain are also part of the property improvements.
The building is located on Merritt Island just north of 520. Public water and sewer serve the property, while cable service is available. The combination of office-oriented improvements, vertical circulation, accessible features, and durable construction creates a defined commercial setting for professional operations.
The building is located on Merritt Island just north of 520. Public water and sewer serve the property, while cable service is available. The combination of office-oriented improvements, vertical circulation, accessible features, and durable construction creates a defined commercial setting for professional operations.
Key Highlights
- 10,413‑square‑foot office building on 1 acre
- Two‑story configuration with elevator
- Concrete construction completed in 2010
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.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,100
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
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Concrete construction with tile and carpet finishes, public water and sewer, and accessible design.
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: 10,413‑square‑foot office building on 1 acre; Two‑story configuration with elevator; Concrete construction completed in 2010
