For Sale
$1,050,000
Pending
5030 N Courtenay Parkway, Merritt Island, FL 32953
Flex space
Property Size3,500 SF
Days on Market175
Property Features for 5030 N Courtenay Parkway
General Information
Standard status
Pending
Size
3,500 SF
Building Details
Building Size
3,500 SF
Listing Agency:
APEX Capital Realty LLC
Listed By:
Miguel Pinto · License #3313310
(305) 570-2600
Source:
Laerrealty
Added: Apr 28
Changed: Oct 14
Last Checked: Oct 19 at 3:55AM
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 APEX Capital Realty LLC
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Investment Insights
Based on property information with market context.
Key Highlights
- 1.70‑acre commercial site on N Courtenay Parkway (SR‑3) with significant frontage
- Approximately 3,500 SF office/warehouse building originally constructed in 1982
- BU‑1 (General Retail Commercial) zoning allows a broad range of commercial, service, and retail uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,736
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$714,720
$714.7K
Cap Rate 7%
$510,514
$510.5K
Cap Rate 9%
$397,067
$397.1K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$58.8K $16.80/SF
− Vacancy
−$3.8K −$1.09/SF
EGI
$55.0K $15.71/SF
− OpEx
−$19.2K −$5.50/SF
NOI
$35.7K $10.21/SF
Area
Brevard County, FL
Vacancy
6.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$714,720
Cap Rate 7%
$510,514
Cap Rate 9%
$397,067
Alternative Uses
Best Use
Flex RnD
$510.5K
$446.7K – $595.6K
NOI $35,736 @ 7.0% cap · market cap 3.40%
Second Best
Warehouse
$344.5K
$301.4K – $401.9K
NOI $24,115 @ 7.0% cap · market cap 2.30%
Theoretical Best
Office A
$923.4K
$808.0K – $1.08M
NOI $64,638 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
50
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
Where is this flex space located?
The property is located at 5030 N Courtenay Parkway Merritt Island, FL.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 1.70‑acre commercial site on N Courtenay Parkway (SR‑3) with significant frontage; Approximately 3,500 SF office/warehouse building originally constructed in 1982; BU‑1 (General Retail Commercial) zoning allows a broad range of commercial, service, and retail uses
