Renovated Two-Story Office
76 E Merritt Island Cswy Merritt Island, FL 32952
For Sale
$3,249,900
Two-story renovated building with 10 upstairs offices and multiple downstairs tenants, including a Tijuana Flats restaurant.
Property Size12,444 SF
Price / SF$261.16
Days on Market740
Property Features for 76 E Merritt Island Cswy
General Information
- Standard status
- Active
- Size
- 12,444 SF
Listing Agency:
Perrone Realty, LLC
(407) 733-0725
Listed By:
Ralph S Perrone · License #3045618
(407) 733-0725
Source:
Exprealty
Added: Jul 15, 2024
Changed: Jul 23
Last Checked: Jul 23 at 6:48AM
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 Perrone Realty, LLC
Investment Insights
Based on property information with market context.
This renovated two-story building is currently mostly fully occupied. The upstairs level includes 10 offices, providing dedicated workspace within the property. Downstairs, the building includes a Tijuana Flats restaurant, along with a massage company and a nail agency, creating a mixed-use tenant lineup.
The property is located on SR 520, offering convenient commercial access along Merritt Island Cswy in Merritt Island, FL.
Overall, the configuration combines office space on the second floor with street-level restaurant and personal service tenants downstairs, supporting day-to-day use across multiple business types.
The property is located on SR 520, offering convenient commercial access along Merritt Island Cswy in Merritt Island, FL.
Overall, the configuration combines office space on the second floor with street-level restaurant and personal service tenants downstairs, supporting day-to-day use across multiple business types.
Key Highlights
- Renovated two‑story building with 10 offices upstairs
- Downstairs includes multiple tenants, including a Tijuana Flats restaurant
- Downstairs also features a massage company and a nail agency
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Smack Wings - Merritt ...
Restaurant
Brian Adams of Direct ...
Loan Service
MoneyGram
Bank
Western Union
Bank
Jean Morris of Direct ...
Loan Service
FAQs
What type of property is this?
Office building - Two-story renovated building with 10 upstairs offices and multiple downstairs tenants, including a Tijuana Flats restaurant.
Where is this office building located?
The property is located at 76 E Merritt Island Cswy 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: Renovated two‑story building with 10 offices upstairs; Downstairs includes multiple tenants, including a Tijuana Flats restaurant; Downstairs also features a massage company and a nail agency
