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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Warehouses
150 Imperial St Merritt Island, FL 32952-3630
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-2152395
Property profile
Verified
Property type
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Year built
2008
Construction
FRAME
Total area
6,256 SF
Lot
0.31 ac (13,504 SF)
Zoning code
BU2
APN
24-36-35-02-00000.0-0034.00
UPID
US18-2152395
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
$645k
CAP Approach
CAP
$665k
Comparable Approach
Comparable
$868k
Blend (final)
Blend
$690k
Owner & transaction history
Aerotech 23 LLC · 3 yrs held
Aerotech 23 LLC
since 2023
Last sale
$750,000
5 recorded transactions
Zoning & alternative use
BU2 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.1M
+36.2%
Retail stores
$1.0M
+28.5%
Medical building
$970,000
+23.9%
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
$650,000
ML approach
$645,000
CAP Approach
CAP Return
Estimation
6%
$720,000
6.5%
$665,000
7%
$615,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$785,000
Current use
OFFICE BUILDING
$1,065,000
Change: +36% · Conversion: Difficult
RETAIL STORES
$1,005,000
Change: +28% · Conversion: Moderate
MEDICAL BUILDING
$970,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$690k
Range $621k – $759k · ±10% · vs last sale $750k (May 30 2023)
Last sale anchor
$750k
May 30 2023
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
$110 / 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
$6,856
Tax year 2023
Assessed value
$409,330
Assessed 2023
Previous assessed
$369,870
+10.7% YoY
Effective rate
1.67%
On assessed value
Assessed land
$44,550
Assessed improvement
$364,780
Land market value
$44,550
Improvement market value
$364,780
Total market value
$409,330
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
Warehouses
Use group
STORAGE YARD, OPEN STORAGE
Status
Off-Market
Year built
2008
Construction
FRAME
Heating
NONE
Cooling
NONE
Stories
1
Units
1
Total area
6,256 SF
Lot
0.31 ac (13,504 SF)
Zoning code
BU2
APN
24-36-35-02-00000.0-0034.00
UPID
US18-2152395
Jurisdiction
BREVARD
Zoning & alternative use
BU2 · Merritt Island, FL
Zoning BU2 · permitted uses
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
WAREHOUSE, STORAGE Current
Est. value
$785,000
OFFICE BUILDING
Est. value
$1.1M
RETAIL STORES
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$970,000
WAREHOUSE, STORAGE Current
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
2008
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
0.31 ac
Current owner
From public records · entity-resolved
Aerotech 23 LLC
Entity
Free & Clear · 3 yrs held
Mailing address
5802 HOFFNER AVE STE #701, ORLANDO, FL 32822-4800
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 30, 2023
$750,000
Aerotech 23 LLC
Cornwell Land Holdings LLC
Warranty Deed
—
Oct 26, 2015
$350,000
Cornwell Land Holdings LLC
Tech-vest LLC
Warranty Deed
—
May 9, 2007
—
Tech-vest LLC
Boniface,bernard R
Warranty Deed
related
—
Dec 14, 2006
—
Tech-vest LLC
Watson,duane
Quit Claim Deed
related
—
Dec 14, 2006
$200,000
Tech-vest LLC
Boniface,bernard R
Warranty Deed
—
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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