Freestanding Retail
4840 N Courtenay Parkway, Merritt Island, FL 32953
For Sale
$749,000
The property pairs an existing commercial structure with outdoor site improvements.
Property Size3,000 SF
Lot Size1.36 Acres
Price / SF$249.67
Days on Market20
Property Features for 4840 N Courtenay Parkway
General Information
Standard status
Size
Lot size
Taxes and HOA fees
Annual Taxes
Building Details
Buildings
Stories
Listing Agency:
Ruth James FL
(321) 209-0593
Listed By:
Nancy Anne Quinn
(321) 212-8391
Source:
Exprealty
Added: Oct 21
Changed: Nov 7
Last Checked: Nov 8 at 8:35AM
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 Ruth James FL
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Investment Insights
Based on property information with market context.
This freestanding, single-story retail property includes approximately 3,000 square feet of gross base area on about 1.36 acres. Existing site improvements and outdoor amenities accompany the building, providing a developed commercial setting for continued occupancy or a different plan subject to applicable approvals.
The property is located at 4840 N Courtenay Parkway in Merritt Island, Florida, along a route described as serving Kennedy Space Center commuters.
The property is located at 4840 N Courtenay Parkway in Merritt Island, Florida, along a route described as serving Kennedy Space Center commuters.
Key Highlights
- Approximately 1.36 acres
- Freestanding, single‑story commercial building
- Approximately 3,000 square feet of gross base area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,587
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$691,740
$691.7K
Cap Rate 7%
$494,100
$494.1K
Cap Rate 9%
$384,300
$384.3K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$54.0K $18.00/SF
− Vacancy
−$4.6K −$1.53/SF
EGI
$49.4K $16.47/SF
− OpEx
−$14.8K −$4.94/SF
NOI
$34.6K $11.53/SF
Area
Brevard County, FL
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$691,740
Cap Rate 7%
$494,100
Cap Rate 9%
$384,300
Alternative Uses
Best Use
Retail
$494.1K
$432.3K – $576.5K
NOI $34,587 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$791.5K
$692.6K – $923.4K
NOI $55,404 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
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
$394,300
Median Home Value
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Market
Average Price Trend$/SF for Retail space in Brevard County, FL
Properties on Market for Retail space in Brevard County
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - The property pairs an existing commercial structure with outdoor site improvements.
Where is this retail space located?
The property is located at 4840 N Courtenay Parkway Merritt Island, FL.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Approximately 1.36 acres; Freestanding, single‑story commercial building; Approximately 3,000 square feet of gross base area
