Courtenay Pkwy Merritt Island, FL 32953

Property Details for 0 Courtenay Pkwy

Property size

14,138 SF

Property type

Office Properties & Spaces

Description

This exceptional value-add opportunity presents a freestanding, two-story office building totaling 14,138 square feet (12,495 square feet net rentable) situated on a 0.97-acre lot in Merritt Island, Florida. Located at the prominent northwest corner of N. Courtenay Parkway and Butler Avenue, this property boasts excellent visibility with a daily traffic count of 30,500 vehicles (per FDOT data). The building features three convenient access points, ample parking (approximately 49 spaces), and a highly functional split floor plan divided into four sections across two floors, each with its own entrance. Currently comprised of 19 units, 15 are leased (with lease terms varying from month-to-month to two years), and 6 are vacant, presenting significant leasing potential. Recent improvements include the replacement of most air conditioning units (within the last 2-5 years) and the upgrade to LED lighting throughout. While the roof has been recently patched, it is nearing the end of its useful life and will require replacement. The property's strategic location, less than half a mile south of SR 528 and near the Space Center and Port Canaveral, offers exceptional access to major transportation arteries and a thriving commercial corridor. Multiple redevelopment options exist, including refurbishment for professional office use, conversion to mixed-use space (retail and office), or complete demolition for new construction. The asking price is $1,050,000, representing a significant discount to replacement value (approximately $75 per gross square foot). Buyers are responsible for verifying all pertinent information prior to closing, including permits, approvals, zoning, and financial details. A separate 10-unit storage building behind the main structure is not included in this sale.