Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Merritt Island Flex/Warehouse Units Title is generated by Realmo AI

    635-655 Fern Dr, Merritt Island, FL 32952

    View on Map
    Claim this Listing
    For Lease
    $1,400/Mo $2 SF/Yr (calc)

    Functional flex/warehouse space in a prime Merritt Island location.

    Property size:
    6,200 SF
    Added:
    May 17, 2026
    Days on Market:
    15
    Last Refresh:
    May 25 at 10:11 pm

    Property Features for 635-655 Fern Dr

    General Information

    Standard status
    Active
    Size
    6,200 SF

    We can help!

    Listing Contact
    spc.rets.621377

    Listing agent spc.rets.621377

    Listing office Harber Realty, Inc.

    Listing date May 17, 2026

    Source Exprealty

    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 Harber Realty, Inc.

    HighLights

    • Prime Location in high‑demand Merritt Island industrial area, near the airport for easy logistics.
    • Flexible Use: Ideal for light industrial, warehouse storage, or office space.
    • Optimal Size: Each unit offers approximately 1,200 SF of versatile space.
    • Dual Access: Each unit features a pedestrian door and a full‑size overhead door.
    • Immediate Availability: Secure one, two, or all three units.
    • Meticulously Designed for diverse business needs.

    Overview

    Available for rent are flex/warehouse units located near Merritt Island Airport. These units are designed for diverse business needs, including contractors, e-commerce, and light industrial operations. Each unit offers approximately 1,200 SF of versatile space. The units feature both a convenient pedestrian access door and a full-size overhead door for loading and unloading. The location is in a high-demand industrial area on Merritt Island, near the airport for logistics and transport access. There are three contiguous or individual units available. The property size is 6,200 SF.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Merritt Island
    County
    Brevard
    State
    Florida
    Longitude
    -80.6942283
    Latitude
    28.346044

    Nearby Similar for Lease

    • $4,350/Mo
      2,906 SF

      Merritt Island Commercial Building For Rent

      Free-standing commercial building on a high-traffic corner lot.
      2110 N Courtenay Parkway, Merritt Island, FL 32953
      View Details
    • $1,097/Mo
      8,053 SF

      Renovated Merritt Island Office Space

      Renovated 800 sq.ft office space in well-maintained strip plaza.
      1175 N Courtenay Parkway, Merritt Island, FL 32953
      View Details
    • $1,695/Mo

      Merritt Island Commercial Unit

      Commercial unit with new facade, wood floors, and free water.
      230 E Merritt Island Causeway, Merritt Island, FL 32952
      View Details
    • $2,188/Mo

      Top-Tier Merritt Island Office Space

      Newer, centrally located office/medical complex with modern amenities.
      260 N Tropical Trail, Merritt Island, FL 32953
      View Details
    • $2,980/Mo

      Modern Merritt Island Office Space

      Top-of-the-line office/medical complex in a central location.
      260 N Tropical Trail, Merritt Island, FL 32953
      View Details
    • $1,695/Mo

      Modern Merritt Island Office Space

      Top-of-the-line office/medical complex in a central location.
      260 N Tropical Trail, Merritt Island, FL 32953
      View Details
    • $1,400/Mo
      6,200 SF

      Merritt Island Flex/Warehouse Units

      Functional flex/warehouse space in a prime Merritt Island location.
      655 Fern Drive, Merritt Island, FL 32952
      View Details
    • $1,400/Mo
      6,200 SF

      Merritt Island Flex/Warehouse Units

      Versatile flex/warehouse spaces in a prime Merritt Island location.
      655 Fern Drive, Merritt Island, FL 32952
      View Details
    • $2,995/Mo

      Merritt Island Commercial Space

      Commercial units with direct SR520 frontage available for lease.
      230 E Merritt Island Causeway, Merritt Island, FL 32952
      View Details
    • $899/Mo

      Remodeled Office Suite For Rent

      Newly remodeled office suite with private bathroom and free utilities.
      2460 N Courtenay Parkway, Merritt Island, FL 32953
      View Details
    • $1,095/Mo

      Remodeled Office Suite For Rent

      Newly remodeled office suite with private bathroom and free utilities.
      2460 N Courtenay Parkway, Merritt Island, FL 32953
      View Details
    • $1,199/Mo

      Remodeled Office Suite For Rent

      Newly remodeled office suite with private bathroom and free utilities.
      2460 N Courtenay Parkway, Merritt Island, FL 32953
      View Details

    FAQs

    What type of property is this?
    Flex space - Functional flex/warehouse space in a prime Merritt Island location.
    Where is this flex space located?
    The property is located at 635-655 Fern Dr Merritt Island, FL.
    What is the lease rate?
    The lease rate is $1,400 /Mo.
    What are key features of this property?
    This property features: Prime Location in high‑demand Merritt Island industrial area, near the airport for easy logistics.; Flexible Use: Ideal for light industrial, warehouse storage, or office space.; Optimal Size: Each unit offers approximately 1,200 SF of versatile space.
    (321) 960-4679
    We can help!
    Listing Contact
    spc.rets.621377
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    635-655 Fern Dr, Merritt Island, FL
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!