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Property profile & analytics
OFF-MARKET
Estimated value
$930,000
Strip malls
1445 Courtenay Pkwy Ste 102 Merritt Island, FL 32953-4426
Entity Owned
3-yr Hold
Free & Clear
Property ID
US18-2385548
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,519 SF
Lot
0.79 ac (34,412 SF)
Zoning code
BU1/BU2
APN
24-36-23-BX-00000.0-0012.00
UPID
US18-2385548
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
by Request
Comparable Approach
Comparable
$561k
Blend (final)
Blend
$930k
Owner & transaction history
Cumberland Farms INC · 3 yrs held
Cumberland Farms INC
since 2023
4 recorded transactions
Zoning & alternative use
BU1/BU2 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.5M
+72.1%
Auto repair, garage
$1.4M
+51.4%
Office building
$1.2M
+28.6%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$900,000
Current use
COMMERCIAL (GENERAL)
$1,545,000
Change: +72% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,360,000
Change: +51% · Conversion: Difficult
OFFICE BUILDING
$1,155,000
Change: +29% · Conversion: Moderate
RETAIL STORES
$1,050,000
Change: +17% · Conversion: Easy
MEDICAL BUILDING
$1,010,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$930k
Range $837k – $1.02M · ±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
$143 / 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
$13,756
Tax year 2023
Assessed value
$872,860
Assessed 2023
Previous assessed
$867,900
+0.6% YoY
Effective rate
1.58%
On assessed value
Assessed land
$310,190
Assessed improvement
$562,670
Land market value
$310,190
Improvement market value
$562,670
Total market value
$872,860
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
3
Bathrooms
2
Total area
6,519 SF
Lot
0.79 ac (34,412 SF)
Zoning code
BU1/BU2
APN
24-36-23-BX-00000.0-0012.00
UPID
US18-2385548
Jurisdiction
BREVARD
Zoning & alternative use
BU1/BU2 · Merritt Island, FL
Zoning BU1/BU2 · permitted uses
BU1/BU2 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$900,000
COMMERCIAL (GENERAL)
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.2M
RETAIL STORES
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1997
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
3
Bathrooms
2
Lot
0.79 ac
Current owner
From public records · entity-resolved
Cumberland Farms INC
Entity
Free & Clear · 3 yrs held
Mailing address
165 FLANDERS RD, WESTBOROUGH, MA 01581-1032
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 19, 2023
—
Cumberland Farms INC
Obsidian Ml 8 LLC
Assignment Of Lease (leasehold Sale)
—
Mar 28, 2008
$260,000
Pendulum Property Group LLC
Cbmc 1982 Land Trust
Warranty Deed
$221,000 · Regions Bank
May 28, 1997
$1,007,500
Talwag Investments LP
Block-merritt INC
Grant Deed
$650,000 · Boston Mutual Life Insurance
May 1, 1984
—
Dania Martinez
—
Grant 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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