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Property profile & analytics
OFF-MARKET
Estimated value
$1,185,000
Retail space
172 Merritt Is Cswy Merritt Island, FL 32952-3635
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-4037384
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,866 SF
Lot
0.59 ac (25,700 SF)
Zoning code
BU2
APN
24-36-35-02-00000.0-00010.A
UPID
US18-4037384
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
$1.22M
Comparable Approach
Comparable
$922k
Blend (final)
Blend
$1.19M
Owner & transaction history
Masha Properties I LLC · 1 yrs held
Masha Properties I LLC
since 2024
Last sale
$1.3M
4 recorded transactions
Zoning & alternative use
BU2 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.6M
+47.3%
Auto repair, garage
$1.4M
+29.6%
Office building
$1.2M
+6.0%
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%
$1,320,000
6.5%
$1,220,000
7%
$1,130,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,105,000
Current use
COMMERCIAL (GENERAL)
$1,625,000
Change: +47% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,430,000
Change: +30% · Conversion: Difficult
OFFICE BUILDING
$1,170,000
Change: +6% · Conversion: Easy
MEDICAL BUILDING
$1,065,000
Change: -4% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$945,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$1.19M
Range $1.07M – $1.30M · ±10% · vs last sale $1.30M (Jul 28 2024)
Last sale anchor
$1.30M
Jul 28 2024
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
$173 / 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
$11,331
Tax year 2023
Assessed value
$594,710
Assessed 2023
Previous assessed
$565,640
+5.1% YoY
Effective rate
1.91%
On assessed value
Assessed land
$296,270
Assessed improvement
$298,440
Land market value
$296,270
Improvement market value
$298,440
Total market value
$594,710
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
6,866 SF
Lot
0.59 ac (25,700 SF)
Zoning code
BU2
APN
24-36-35-02-00000.0-00010.A
UPID
US18-4037384
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
RETAIL STORES Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$945,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.59 ac
Current owner
From public records · entity-resolved
Masha Properties I LLC
Entity
Free & Clear · 1 yrs held
Mailing address
335 S PLUMOSA ST STE J, MERRITT ISLAND, FL 32952-3567
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Nov 15, 2024
—
Masha Properties I LLC
Duane A Watson
Deed
related
—
Oct 28, 2024
$1,300,000
Masha Properties I LLC
Duane A Watson
Warranty Deed
$1,775,900 · Bank Of America NA
Jan 21, 2015
—
Harold Green
Green,harold & Jean R
Quit Claim Deed
related
—
Nov 20, 2013
—
Harold Green
Green,harold & Jean R
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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