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Property profile & analytics
OFF-MARKET
Estimated value
$835,000
Strip malls
150 Merritt Is Cswy Ste A Merritt Island, FL 32952-3407
Individually Owned
16-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-6015214
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,320 SF
Lot
0.73 ac (31,799 SF)
Zoning code
BU2
APN
24-36-35-02-00000.0-0011.00
UPID
US18-6015214
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
-
T-Mobile Authorized Retailer Mobile Phone Store Electronics & Wireless Store
-
AYR Cannabis Dispensary Merritt Island (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$528k
Blend (final)
Blend
$835k
Owner & transaction history
Jerlene K Watson · 16 yrs held
Jerlene K Watson
since 2009
3 recorded transactions
Zoning & alternative use
BU2 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.3M
+51.4%
Office building
$1.1M
+23.8%
Retail stores
$1.0M
+16.8%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$870,000
Current use
AUTO REPAIR, GARAGE
$1,320,000
Change: +51% · Conversion: Difficult
OFFICE BUILDING
$1,080,000
Change: +24% · Conversion: Moderate
RETAIL STORES
$1,015,000
Change: +17% · Conversion: Easy
MEDICAL BUILDING
$980,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$835k
Range $752k – $919k · ±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
$132 / 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
$11,399
Tax year 2023
Assessed value
$723,660
Assessed 2023
Previous assessed
$693,790
+4.3% YoY
Effective rate
1.58%
On assessed value
Assessed land
$418,700
Assessed improvement
$304,960
Land market value
$418,700
Improvement market value
$304,960
Total market value
$723,660
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
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
2
Total area
6,320 SF
Lot
0.73 ac (31,799 SF)
Zoning code
BU2
APN
24-36-35-02-00000.0-0011.00
UPID
US18-6015214
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$870,000
AUTO REPAIR, GARAGE
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.1M
RETAIL STORES
Est. value
$1.0M
MEDICAL BUILDING
Est. value
$980,000
NEIGHBORHOOD: SHOPPING CENTER Current
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
1960
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
2
Lot
0.73 ac
Current owner
From public records · entity-resolved
Jerlene K Watson
Individual
Free & Clear · 16 yrs held
Mailing address
335 S PLUMOSA ST, MERRITT ISLAND, FL 32952-3567
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2009
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
Sep 3, 2009
$317,000
Jerlene K Watson
Watson,duane A
Grant Deed
related
—
Apr 29, 2009
—
Duane A Watson
Watson Duane Family Trust
Quit Claim Deed
related
—
Feb 27, 2009
—
Watson Duane Family Trust
Watson,duane A
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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