Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Tropical Trl Merritt Island, FL 32952

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Tropical Trl Merritt Island, FL 32952

    View on Map
    • Land
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Tropical Trl

    Property type
    Land

    Description

    This exceptional 2.24-acre waterfront property in Merritt Island, Florida, presents a unique opportunity. Located at 10060* S Tropical Trail, this 97,574 square foot lot boasts breathtaking views of the Banana River and Indian River. The property offers a gentle slope to the river, allowing for potential dock installation on both waterways. A significant advantage is the existing guest-garage-apartment, providing convenient accommodation during construction or for guests. The cleared house location simplifies building plans, and the lush vegetation provides a tranquil, natural setting. Situated in Brevard County, Florida, with a zip code of 32952 (latitude 28.1775527, longitude -80.6239885), this property is ideally positioned for those seeking a waterfront estate with the added benefit of proximity to space launches. The asking price for this remarkable land parcel is $2,695,000. This combined commercial and residential zoned property offers a rare blend of natural beauty and convenient amenities. The existing structure provides immediate usability while offering the potential to build a dream home in a prime waterfront location. Don't miss this chance to own a piece of paradise.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Merritt Island
    County
    Brevard
    State
    Florida
    Longitude
    -80.624
    Latitude
    28.1776

    Comparable in this City

    • Value Estimation by Request

      00000 Tropical Tr-S Courtenay Pkwy

      Land
      00000 Tropical Tr-S Courtenay Pkwy, Merritt Island, FL 32952
      View Details
    • Value Estimation by Request

      9405 Tropical Trl

      Land
      9405 Tropical Trl, Merritt Island, FL 32952
      View Details
    • Value Estimation by Request

      243719778 Sun Pointe Pl

      Land
      243719778 Sun Pointe Pl, Merritt Island, FL 32952
      View Details
    • Value Estimation by Request

      5405 Freedom Ln

      Land
      5405 Freedom Ln, Merritt Island, FL 32952
      View Details
    • Value Estimation by Request

      000 Unknown Pkwy

      Land
      000 Unknown Pkwy, Merritt Island, FL 32952
      View Details
    • Value Estimation by Request

      29xx Newfound Harbor Dr

      Land
      29xx Newfound Harbor Dr, Merritt Island, FL 32952
      View Details

    Similar Nearby for Sale

    • $700,000

      Merritt Island Waterfront Land

      Prime Riverfront Land: Build Your Dream
      29xx Newfound Harbor Dr, Merritt Island, FL 32952
      View Details
    • $550,000
      0.33 Acres

      Indian Riverfront Land Opportunity

      Vacant land with direct Indian River frontage and panoramic views.
      S Tropical Trl, Merritt Island, FL 32952
      View Details
    • Contact for pricing

      East Merritt Island Causeway Land

      Land available on East Merritt Island Causeway.
      Mall Sears At Merritt Is Sq, Merritt Island, FL 32952
      View Details
    • $279,900

      Banana Riverfront Vacant Land

      6.31 acres with nearly 400 feet of Banana River frontage.
      3190 South Courtenay Pkwy, Merritt Island, FL 32952
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      66,318 SF

      Merritt Island Causeway Retail Space

      Prime Retail & Office Opportunity: 66,318 SF
      1850 Merritt Island Cswy, Merritt Island, FL 32952
      View Details
    • Contact for pricing

      Merritt Island Office/Medical Space

      First floor office space suitable for medical or office use.
      650 S Courtenay Pkwy, Merritt Island, FL 32952
      View Details
    • $1,400 /Mo
      6,200 SF

      Merritt Island Flex/Warehouse Units

      Flex/Warehouse units in prime Merritt Island location, versatile for businesses.
      635 Fern Dr, Merritt Island, FL 32952
      View Details
    • $22 SF/Yr
      3,874 SF

      Class A Office Space Available

      Professional office building in the heart of Merritt Island.
      775 E Merritt Island Cswy, Merritt Island, FL 32952
      View Details
    • $2,695 /Mo
      11,700 SF

      Modern Retail/Office Space Available

      New construction retail/office space in high-traffic Merritt Island location.
      315 S Courtenay Pkwy, Merritt Island, FL 32952
      View Details
    • $75,000
      301,435 SF

      Former Car Dealership with Amenities

      Former car dealership with offices, service bays, and unique amenities.
      1850 E Merritt Island Cswy, Merritt Island, FL 32952
      View Details
    Request Owner's contact information
    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.
    Tropical Trl
    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
    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

    Thank You for Inquiry

    Tropical Trl, Merritt Island, FL, 32952

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!