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Property profile & analytics
FOR SALE
Warehouses
150 Venetian Way Merritt Island, FL 32953
Individually Owned
25-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-6002170
For Sale
1 / 4
$3,449,900
150 Venetian Way, Merritt Island, FL 32953
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2005
Construction
FRAME
Total area
10,340 SF
Lot
1.32 ac (57,499 SF)
Zoning code
BU1
APN
24-36-14-00-00266.0-0000.00
UPID
US18-6002170
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
$1.10M
Comparable Approach
Comparable
$834k
Blend (final)
Blend
$1.02M
Owner & transaction history
Steven P Geiger · 25 yrs held
Steven P Geiger
since 2001
1 recorded transaction
Zoning & alternative use
BU1 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.7M
+28.5%
Medical building
$1.6M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,185,000
6.5%
$1,095,000
7%
$1,020,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,295,000
Current use
RETAIL STORES
$1,665,000
Change: +28% · Conversion: Moderate
MEDICAL BUILDING
$1,605,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$1.02M
Range $914k – $1.12M · ±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
$98 / 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
$15,122
Tax year 2023
Assessed value
$862,440
Assessed 2023
Previous assessed
$808,420
+6.7% YoY
Effective rate
1.75%
On assessed value
Assessed land
$143,750
Assessed improvement
$718,690
Land market value
$143,750
Improvement market value
$718,690
Total market value
$862,440
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
WAREHOUSE, STORAGE
Status
For Sale
Year built
2005
Construction
FRAME
Heating
NONE
Cooling
NONE
Buildings
2
Stories
1
Units
6
Total area
10,340 SF
Lot
1.32 ac (57,499 SF)
Zoning code
BU1
APN
24-36-14-00-00266.0-0000.00
UPID
US18-6002170
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
WAREHOUSE, STORAGE Current
Est. value
$1.3M
RETAIL STORES
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.6M
WAREHOUSE, STORAGE Current
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
2005
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
6
Lot
1.32 ac
Current owner
From public records · entity-resolved
Steven P Geiger
Individual
Free & Clear · 25 yrs held
Mailing address
260 N TROPICAL TRL STE #202, MERRITT ISLAND, FL 32953-4800
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 16, 2001
$75,000
Steven P Geiger
Hughes,reid B
Grant 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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