Two-Story Office Building with
76 E Merritt Island Causeway Merritt Island, FL 32952
For Sale
$3,249,900
COMMERCIAL - Merritt Island, FL
Property Size12,444 SF
Lot Size0.53 Acres
Price / SF$261.16
Days on Market3927
Property Features for 76 E Merritt Island Causeway
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
APN
24-36-35-02-00000.0-0015.00
Size
12,444 SF
Lot size
0.53 Acres
Taxes and HOA fees
Tax Year
2015
Tax Description
TRACT NO 15 AS PER SURVEY BOOK 1 PG 90; PT OF ACCESS ESMT LYING N AS DESC IN ORB 2593 PG 2893 BLK A.2
Tax Annual Amount
14395
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
1962
Number of units
13
Flooring type
Carpet, Tile
Building materials
Concrete
Listing Agency:
Perrone Realty, LLC
(321) 452-9838
Listed By:
Ralph S Perrone · License #3045618
(407) 733-0725
Added: Oct 29, 2015
Changed: Jul 29
Last Checked: Jul 29 at 4:06PM
MLS# 738524
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.
Investment Insights
Based on property information with market context.
This renovated two-story commercial building is positioned with a primarily occupied tenant mix. The second floor is configured with 10 offices, while the first floor features a restaurant along with additional service-oriented spaces including a massage company and a nail agency.
The property is located on SR 520 in Merritt Island, FL, and is described as staying mostly fully occupied due to its location.
Overall, the layout supports an office component upstairs paired with street-facing tenant uses downstairs, creating a multi-tenant arrangement within one building.
The property is located on SR 520 in Merritt Island, FL, and is described as staying mostly fully occupied due to its location.
Overall, the layout supports an office component upstairs paired with street-facing tenant uses downstairs, creating a multi-tenant arrangement within one building.
Key Highlights
- High occupancy due to attractive location on SR 520.
- Renovated 2‑story building.
- Mix of office and retail tenants.
Financial Insights For Office B
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 | $268.8k | $21.60 |
| − Vacancy | −$43.0k | −$3.46 |
| EGI | $225.8k | $18.14 |
| − OpEx | −$56.4k | −$4.54 |
| NOI | $169.3k | $13.61 |
12,444 SF · lease $21.60/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.42M
$2.12M – $2.82M
NOI $169,338 @ 7.0% cap · market cap 5.21%
Second Best
Specialty Retail
$2.37M
$2.07M – $2.76M
NOI $165,754 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$3.28M
$2.87M – $3.83M
NOI $229,816 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Renovated two-story building with 10 upstairs offices and multiple tenants downstairs, including a restaurant.
Where is this office units located?
The property is located at 76 E Merritt Island Causeway Merritt Island, FL.
What is the asking price?
The asking price for this property is $3,249,900.
What are key features of this property?
This property features: High occupancy due to attractive location on SR 520.; Renovated 2‑story building.; Mix of office and retail tenants.
