Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1615 Stafford Ave Merritt Island, FL 32952

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime waterfront land, 16 lots, buildable.

    Property Features for 1615 Stafford Ave

    General Information

    Property type
    Mixed-use properties

    We can help!

    Listing Contact
    Michael Dichristopher

    Listing Agency: Providence Realty Team, Inc. Listing Agent: Michael Dichristopher

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional 119,790 square foot mixed-use property in Merritt Island, Florida (zip code 32952), presents a unique investment opportunity. Located at 1615 Stafford Avenue, Brevard County, this expansive parcel offers breathtaking views: water, rocket launches, cruise ships, and the Cocoa Beach skyline. Sunrises and moonrises add to the spectacular scenery. The property comprises sixteen platted lots, some with completed wetland mitigation, ready for immediate development. The site's strategic location provides easy access to numerous amenities, including a county park boasting basketball courts, soccer and football fields, tennis courts, kayaking, sailboarding, windsurfing, fishing, boat ramps, playgrounds, picnic areas, a beach, water sports equipment rentals, and extensive jogging and walking trails. The property's zoning allows for a variety of commercial uses, including, but not limited to, hotels, mini-storage facilities, cruise parking lots, retail centers, and gas stations, all under BU-1 permitted development. The property is also ideally situated for short-term rentals, such as Airbnbs. The asking price is $1,000,000. This is a rare chance to acquire a large, versatile property with stunning views and exceptional recreational opportunities in a high-demand location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Building Supply Auto Repair Shop Gym & Fitness Center Kitchen & Bath Showroom Department Store HVAC Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Merritt Island
    County
    Brevard
    State
    Florida
    Longitude
    -80.664242
    Latitude
    28.401982

    Nearby Similar for Sale

    • $1,249,000
      8,053 SF

      Merritt Island Retail/Office Center

      Renovated 8,053 SF retail/office center on high-traffic N Courtenay Pkwy.
      1175 N Courtenay Pkwy, Merritt Island, FL 32953
      View Details
    • $629,000
      3,104 SF

      Remodeled Duplex in Sea Gate

      Spacious, remodeled duplex with RV slab in desirable community.
      3078 Sea Gate Cir, Merritt Island, FL 32953
      View Details
    • $525,000
      2,444 SF

      Merritt Island Commercial Property For Sale

      Renovated commercial property in Merritt Island's historic Merritt Park.
      290 Parnell St, Merritt Island, FL 32953
      View Details
    • $2,499,900
      10,413 SF

      Merritt Island Office/Medical Complex

      New two-story office/medical complex with elevator and ample parking.
      260 N Tropical Trl, Merritt Island, FL 32953
      View Details
    • $9,998,900
      63,125 SF

      Former Car Dealership on Causeway

      Former car dealership with offices, service bays, and extra amenities.
      1850 E Merritt Island Cswy, Merritt Island, FL 32952
      View Details
    • $3,749,900
      16,500 SF

      Merritt Island Retail Opportunity

      Retail property on SR520 with high traffic exposure.
      234 E Merritt Island Cswy, Merritt Island, FL 32952
      View Details
    • $699,500
      4,631 SF

      Commercial Property with Income Potential

      Two buildings on corner lot, one vacant, one leased.
      691 N Courtenay Pkwy, Merritt Island, FL 32953
      View Details
    • $3,449,900
      24,000 SF

      Merritt Island Flex Space

      Office/warehouse/flex space with roll-up doors and air-conditioned office.
      150 Venetian Way, Merritt Island, FL 32953
      View Details
    • $395,000
      2,243 SF

      Merritt Island Multifamily Investment Opportunity

      Duplex with triplex conversion potential near schools, shopping, and restaurants.
      347 W Merritt Ave, Merritt Island, FL 32953
      View Details
    • $175,000
      882 SF

      Turnkey Luxury First Floor Unit

      Fully furnished 3 bed, 2 bath end unit.
      200 Bounty St, Merritt Island, FL 32952
      View Details
    • $135,000
      704 SF

      Renovated Merritt Island Apartment

      Renovated 2-bedroom apartment near Cocoa Beach and Port Canaveral.
      160 Bounty St, Merritt Island, FL 32952
      View Details
    • $2,699,900
      15,428 SF

      Merritt Island Commercial Office Building

      Commercial office building in Merritt Island, Florida, for sale.
      2460 N Courtenay Pkwy, Merritt Island, FL 32953
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Prime waterfront land, 16 lots, buildable.
    Where is this mixed-use property located?
    The property is located at 1615 Stafford Ave Merritt Island, FL.
    What is the asking price?
    The asking price for this property is $1,000,000.
    What are key features of this property?
    This property features: 119,790 SF mixed-use property in Merritt Island, FL (32952), located at 1615 Stafford Avenue.; Stunning water views, rocket launches, and Cocoa Beach skyline.; Sixteen platted lots, some with completed wetland mitigation.
    (321) 288-4111 Call to check price and availability
    Request Owner's contact information
    1615 Stafford Ave Merritt Island, FL 32952
    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.
    1615 Stafford Ave
    Merritt Island, FL 32952
    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
    1615 Stafford Ave Merritt Island, FL 32952
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Michael Dichristopher
    Real Estate License ID: 571809
    (321) 288-4111
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!