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Property profile & analytics
OFF-MARKET
Estimated value
$1,540,000
Medical Office Space
1047 Courtenay Pkwy, Merritt Island, FL 32953
Entity Owned
Free & Clear
Property ID
US18-6095413
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1985
Construction
WOOD
Total area
8,949 SF
Lot
0.83 ac (36,155 SF)
Zoning code
BU1
APN
24-36-26-BX-00000.0-0035.06
UPID
US18-6095413
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.74M
Comparable Approach
Comparable
$1.43M
Blend (final)
Blend
$1.54M
Owner & transaction history
Jjd Merritt Island Properties LLC
Jjd Merritt Island Properties LLC
since 2026
Last sale
$1.5M
3 recorded transactions
Zoning & alternative use
BU1 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.1M
+52.7%
Auto repair, garage
$1.9M
+34.3%
Office building
$1.6M
+14.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Merritt Island submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Merritt Island submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,875,000
6.5%
$1,735,000
7%
$1,610,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,390,000
Current use
COMMERCIAL (GENERAL)
$2,120,000
Change: +53% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,865,000
Change: +34% · Conversion: Difficult
OFFICE BUILDING
$1,585,000
Change: +14% · Conversion: Easy
RETAIL STORES
$1,440,000
Change: +4% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$1,230,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$1.54M
Range $1.39M – $1.69M · ±10% · vs last sale $1.50M (Jan 15 2026)
Last sale anchor
$1.50M
Jan 15 2026
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$172 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$16,031
Tax year 2023
Assessed value
$1,129,340
Assessed 2023
Previous assessed
$1,010,650
+11.7% YoY
Effective rate
1.42%
On assessed value
Assessed land
$325,710
Assessed improvement
$803,630
Land market value
$325,710
Improvement market value
$803,630
Total market value
$1,129,340
Applied tax rate
2,200.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1985
Construction
WOOD
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
4
Total area
8,949 SF
Lot
0.83 ac (36,155 SF)
Zoning code
BU1
APN
24-36-26-BX-00000.0-0035.06
UPID
US18-6095413
Jurisdiction
BREVARD
Zoning & alternative use
BU1 · Merritt Island, FL
Zoning BU1 · permitted uses
BU1 · Merritt Island, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Merritt Island. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$1.9M
OFFICE BUILDING
Est. value
$1.6M
RETAIL STORES
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1985
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
4
Lot
0.83 ac
Current owner
From public records · entity-resolved
Jjd Merritt Island Properties LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1045 N COURTENAY PKWY, MERRITT ISLAND, FL 32953-4531
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 15, 2026
$1,500,000
Jjd Merritt Island Properties LLC
The Life Blood Land Trust
Special Warranty Deed
—
Feb 18, 2021
—
Toy Store Management LLC
Mukesh C Aggarwal
Quit Claim Deed
related
—
Dec 15, 2006
—
Mukesh C Aggarwal
Aggarwal,saroj
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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