Multi-Tenant Warehouse Buildings Near
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2755 N Banana River Dr, Merritt Island, FL
Two multi-tenant warehouse buildings with office suites near Port Canaveral.
Property Size18,120 SF
Lot Size0.80 Acres
Price / SF$129.69
Days on Market464
Property Features for 2755 N Banana River Dr
General Information
Standard status
Active
Size
18,120 SF
Lot size
0.80 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Lightle Beckner Robison, Inc.
(321) 722-0707
Listed By:
Jeffery T. Robison CCIM · License #3113472
Source:
Moodyscre
Added: Apr 23, 2025
Changed: Jul 6
Last Checked: Jul 30 at 6:03AM
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 Lightle Beckner Robison, Inc.
Investment Insights
Based on property information with market context.
Located less than five minutes from Port Canaveral, this property features two multi-tenant small bay warehouse buildings with office suites and a racquetball court. The property offers an opportunity for an owner-user to occupy the property and collect additional income. Value-add investors may increase returns by bringing existing tenants to market rents. All tenants are on below-market month-to-month leases. The property is located in Merritt Island, Florida. Brevard County's BU-2 zoning allows a wide variety of uses, making this a suitable location for businesses catering to Port Canaveral. The property contains 18,120 square feet.
Key Highlights
- Less than five minutes from Port Canaveral.
- Opportunity for an Owner User to occupy the property and collect additional income.
- Value Add Investors can bring existing tenants to market rents.
Financial Insights For Flex RnD
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 | $304.4k | $16.80 |
| − Vacancy | −$19.8k | −$1.09 |
| EGI | $284.6k | $15.71 |
| − OpEx | −$99.6k | −$5.50 |
| NOI | $185.0k | $10.21 |
18,120 SF · lease $16.80/SF/yr · vacancy 6.50% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$2.64M
$2.31M – $3.08M
NOI $185,009 @ 7.0% cap · market cap 7.87%
Second Best
Warehouse
$1.78M
$1.56M – $2.08M
NOI $124,849 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$4.78M
$4.18M – $5.58M
NOI $334,640 @ 7.0% cap · market cap 14.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
67
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Properties on Market for Warehouses in Brevard County
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - Two multi-tenant warehouse buildings with office suites near Port Canaveral.
Where is this warehouse located?
The property is located at 2755 N Banana River Dr Merritt Island, FL.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Less than five minutes from Port Canaveral.; Opportunity for an Owner User to occupy the property and collect additional income.; Value Add Investors can bring existing tenants to market rents.
