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    850 Courtenay Pkwy Merritt Island, FL 32953

    For Sale
    $599,000

    Prime Corner Lot, High Traffic Area, Endless Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    363
    This exceptional 0.5+ acre corner lot, located at 850 N Courtenay Parkway in Merritt Island, Florida (zip code 32953), presents a unique redevelopment opportunity. Zoned BU-1, this property boasts approximately 150 feet of frontage on N Courtenay Parkway, a high-traffic area with an impressive 28,000 AADT (Average Annual Daily Traffic) per FDOT data. Previously occupied by a fuel station, the existing fuel tanks and canopy have been removed, leaving a clean slate for a wide range of commercial ventures. The property's central Merritt Island location offers excellent visibility and accessibility. Built in 1964, this single-unit retail site is ready for its next chapter. The expansive lot size provides ample space for new construction or significant expansion. For investors seeking a flexible option, a ground lease is also available. This is an unparalleled chance to capitalize on a highly desirable location and create a thriving commercial enterprise. The property is situated in Brevard County and offers significant potential for a variety of commercial uses given its size and location. Serious inquiries are encouraged.

    Property Features for 850 Courtenay Pkwy

    General Information

    Property type
    Retail properties

    Building Details

    Year Built
    1964
    Units
    1

    HighLights

    • 0.5+ acre corner lot at 850 N Courtenay Parkway, Merritt Island, FL 32953, offering redevelopment potential.
    • BU‑1 zoning with ~150 ft of frontage on N Courtenay Parkway (28,000 AADT).
    • Former fuel station site; tanks and canopy removed.
    • Excellent visibility and accessibility in central Merritt Island.
    • Ground lease option available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto Depot Car Dealer

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Merritt Island
    County
    Brevard
    State
    Florida
    Longitude
    -80.6999736
    Latitude
    28.3718295

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    FAQs

    What type of property is this?
    Retail property - Prime Corner Lot, High Traffic Area, Endless Potential
    Where is this retail property located?
    The property is located at 850 Courtenay Pkwy Merritt Island, FL.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: 0.5+ acre corner lot at 850 N Courtenay Parkway, Merritt Island, FL 32953, offering redevelopment potential.; BU-1 zoning with ~150 ft of frontage on N Courtenay Parkway (28,000 AADT).; Former fuel station site; tanks and canopy removed.
    Request Owner's contact information
    850 Courtenay Pkwy Merritt Island, FL 32953
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    Merritt Island, FL 32953
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    Realmo Value Estimation

    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.

    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.

    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
    850 Courtenay Pkwy Merritt Island, FL 32953
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