Four-Office Professional
76 E Merritt Island Causeway #204, Merritt Island, FL 32953
For Sale
Contact for pricing
Second-floor suite includes private air conditioning, a dedicated bathroom, and a gross lease structure.
Property Size600 SF
Price / SF$1.25
Days on Market295
Property Features for 76 E Merritt Island Causeway #204
General Information
Standard status
Size
Property subtype
Space & Availability
Floor
Condition
Additional Details
Property Use
Building Details
Year Built
Listing Agency:
Perrone Realty, LLC
(321) 452-9838
Listed By:
Ralph S Perrone · License #3045618
(407) 733-0725
Source:
Mccoyfreeman
Added: Jan 19
Changed: Nov 8
Last Checked: Nov 8 at 9:14AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 600-square-foot office suite is configured with four professional offices and a private bathroom. Interior improvements include new paint and textured walls, and the suite has its own air-conditioning system with a digital thermostat. The space is on the second floor of a building constructed in 1962.
Parking is available, and the tenant may display a name or logo on the marquee sign. The gross lease includes water and does not pass through taxes, insurance, or common area maintenance charges.
Parking is available, and the tenant may display a name or logo on the marquee sign. The gross lease includes water and does not pass through taxes, insurance, or common area maintenance charges.
Key Highlights
- Four professional offices in a 600‑square‑foot second‑floor suite
- Private bathroom and dedicated air‑conditioning system with digital thermostat
- Gross lease includes water, with no taxes, insurance, or CAM charges
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,165
Suggested Prices Based on Cap Rates
Cap Rate 5%
$163,300
$163.3K
Cap Rate 7%
$116,643
$116.6K
Cap Rate 9%
$90,722
$90.7K
Market Conditions
NOI Build-Up for 600 SF
Gross rent
$13.0K $21.60/SF
− Vacancy
−$2.1K −$3.46/SF
EGI
$10.9K $18.14/SF
− OpEx
−$2.7K −$4.54/SF
NOI
$8.2K $13.61/SF
Area
Brevard County, FL
Vacancy
16.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$163,300
Cap Rate 7%
$116,643
Cap Rate 9%
$90,722
Alternative Uses
Best Use
Office B
$116.6K
$102.1K – $136.1K
NOI $8,165 @ 7.0% cap · market cap 1,088.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$158.3K
$138.5K – $184.7K
NOI $11,081 @ 7.0% cap · market cap 1,477.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,607
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
$394,300
Median Home Value
Market
Average Price Trend$/SF for Office Units in Brevard County, FL
Properties on Market for Office Units in Brevard County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Second-floor suite includes private air conditioning, a dedicated bathroom, and a gross lease structure.
Where is this office unit located?
The property is located at 76 E Merritt Island Causeway #204 Merritt Island, FL.
What are key features of this property?
This property features: Four professional offices in a 600‑square‑foot second‑floor suite; Private bathroom and dedicated air‑conditioning system with digital thermostat; Gross lease includes water, with no taxes, insurance, or CAM charges
