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Property profile & analytics
OFF-MARKET
Estimated value
$3,290,000
Automotive properties
1545 Merritt Is Cswy Merritt Island, FL 32952-2611
Entity Owned
25-yr Hold
Free & Clear
Property ID
US18-3464742
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
20,254 SF
Lot
3.82 ac (166,399 SF)
Zoning code
BU2
APN
24-37-31-00-00256.1-0000.00
UPID
US18-3464742
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
-
Tesla Inc Car Dealership
-
Tesla Solar Solar Energy Company
-
Tesla Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.03M
Blend (final)
Blend
$3.29M
Owner & transaction history
East Florida Motor Sales INC · 25 yrs held
East Florida Motor Sales INC
since 2000
5 recorded transactions
Zoning & alternative use
BU2 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.8M
+13.7%
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
AUTO REPAIR, GARAGE
$4,225,000
Current use
COMMERCIAL (GENERAL)
$4,800,000
Change: +14% · Conversion: Moderate
OFFICE BUILDING
$3,455,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$3.29M
Range $2.96M – $3.62M · ±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
$162 / 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
$39,408
Tax year 2023
Assessed value
$2,568,480
Assessed 2023
Previous assessed
$2,457,140
+4.5% YoY
Effective rate
1.53%
On assessed value
Assessed land
$1,122,130
Assessed improvement
$1,446,350
Land market value
$1,122,130
Improvement market value
$1,446,350
Total market value
$2,568,480
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
2
Units
1
Total area
20,254 SF
Lot
3.82 ac (166,399 SF)
Zoning code
BU2
APN
24-37-31-00-00256.1-0000.00
UPID
US18-3464742
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
AUTO REPAIR, GARAGE Current
Est. value
$4.2M
COMMERCIAL (GENERAL)
Est. value
$4.8M
OFFICE BUILDING
Est. value
$3.5M
AUTO REPAIR, GARAGE Current
COMMERCIAL (GENERAL)
OFFICE 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
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
2
Units
1
Lot
3.82 ac
Current owner
From public records · entity-resolved
East Florida Motor Sales INC
Entity
Free & Clear · 25 yrs held
Mailing address
4650 HWY 520, COCOA, FL 32926-2333
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2000
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
Aug 16, 2000
$4,143,000
East Florida Motor Sales INC
Dealer Development Group INC
Grant Deed
—
Mar 22, 1999
$4,125,000
Dealer Development Group INC
Mhem INC
Grant Deed
—
—
—
East Florida Motor Sales INC
—
Deed Of Trust
related
$6,055,579 · World Omni Financial Corp
—
—
East Florida Motor Sales INC
—
Deed Of Trust
related
$400,000 · World Omni Financial Corp
—
—
East Florida Motor Sales INC
—
Deed Of Trust
related
$6,055,579 · World Omni Financial Corp
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
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