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Property profile & analytics
FOR LEASE
Office buildings
1353 N Courtenay Pkwy Merritt Island, FL 32953
Entity Owned
8-yr Hold
Free & Clear
Property ID
US18-5829947
For Lease
1 / 3
$10 SF/Yr
1353 N Courtenay Pkwy, Merritt Island, FL 32953
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Property summary
AI-generated overview
This three-building Merritt Island office complex totals 32,273 square feet, built in 1987. The property features 2-story buildings situated on 2.89 acres, providing ample parking (103+ spaces). Located at 1353 N Courtenay Pkwy, 32953, this multi-tenant property boasts high visibility at a lighted intersection on Merritt Island's main north-south traffic corridor. The zoning is BU-ICC. Available spaces range from 801 to 2,272 square feet. The complex benefits from its location near major employers including Kennedy Space Center, Boeing, Blue Origins, SpaceX, and Lockheed Martin, ensuring a strong economic base and high traffic counts within a busy, affluent submarket. The property offers excellent visibility and accessibility. The Brevard County location (APN: 24-36-23-Bx-00000.0-0017.00) presents a compelling investment opportunity in a thriving area. This executive and traditional office space is perfect for businesses seeking a prominent location with high traffic exposure.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1983
Construction
WOOD
Total area
14,837 SF
Lot
2.89 ac (125,888 SF)
Zoning code
BU-1
APN
24-36-23-BX-00000.0-0017.00
UPID
US18-5829947
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
Current use
Occupant on record · Public records
-
Discovery Counseling Services LLC Crisis Center Medical Clinic
-
Sean G Anderson Law Office Law Firm
-
Christ Church Positive Living Church
-
FedEx Drop Box Postal Service Courier Service
-
Casey O'brien Foster Care Service Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.32M
Comparable Approach
Comparable
$3.09M
Blend (final)
Blend
$3.13M
Owner & transaction history
Town Square Office Complex LLC · 8 yrs held
Town Square Office Complex LLC
since 2018
2 recorded transactions
Zoning & alternative use
BU-1 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.0M
+91.9%
Commercial (general)
$3.5M
+33.9%
Auto repair, garage
$3.1M
+17.8%
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%
$3,590,000
6.5%
$3,315,000
7%
$3,075,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,625,000
Current use
RESTAURANT
$5,040,000
Change: +92% · Conversion: Moderate
COMMERCIAL (GENERAL)
$3,515,000
Change: +34% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,095,000
Change: +18% · Conversion: Difficult
RETAIL STORES
$2,385,000
Change: -9% · Conversion: Moderate
MEDICAL BUILDING
$2,305,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$3.13M
Range $2.81M – $3.44M · ±10%
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
$211 / 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
$29,016
Tax year 2023
Assessed value
$1,807,950
Assessed 2023
Previous assessed
$1,725,610
+4.8% YoY
Effective rate
1.60%
On assessed value
Assessed land
$818,680
Assessed improvement
$989,270
Land market value
$818,680
Improvement market value
$989,270
Total market value
$1,807,950
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1983
Construction
WOOD
Heating
FORCED AIR
Cooling
YES
Buildings
3
Stories
1
Units
12
Total area
14,837 SF
Lot
2.89 ac (125,888 SF)
Zoning code
BU-1
APN
24-36-23-BX-00000.0-0017.00
UPID
US18-5829947
Jurisdiction
BREVARD
Zoning & alternative use
BU-1 · Merritt Island, FL
Zoning BU-1 · permitted uses
BU-1 · 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
OFFICE BUILDING Current
Est. value
$2.6M
RESTAURANT
Est. value
$5.0M
COMMERCIAL (GENERAL)
Est. value
$3.5M
AUTO REPAIR, GARAGE
Est. value
$3.1M
RETAIL STORES
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.3M
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
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
1983
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
3
Units
12
Lot
2.89 ac
Current owner
From public records · entity-resolved
Town Square Office Complex LLC
Entity
Free & Clear · 8 yrs held
Mailing address
626 OLD DIXIE HWY SW, VERO BEACH, FL 32962-4536
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 4, 2018
$1,850,000
Town Square Office Complex LLC
Town Square Of Merrit Isalnd LLC
Warranty Deed
—
Jul 18, 2011
—
Town Square Of Merritt Island LLC
Town Square
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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