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Property profile & analytics
OFF-MARKET
Estimated value
$770,000
Medical Office Space
1730 Merritt Is Cswy Merritt Island, FL 32952-2663
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US18-8935969
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,178 SF
Lot
1.13 ac (49,223 SF)
Zoning code
BU-2
APN
24-37-31-00-00007.0-0000.00
UPID
US18-8935969
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
-
Water's Edge Dermatology - Merritt Island Physician Medical Clinic
-
John Koziarski, MD Physician Medical Clinic
-
Shery Varghese, MD Physician Medical Clinic
-
Robert Weltman, MD Physician Medical Clinic
-
Jennifer Rivera, APRN Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.01M
Comparable Approach
Comparable
$541k
Blend (final)
Blend
$770k
Owner & transaction history
Merritt 1730 LLC · 8 yrs held
Merritt 1730 LLC
since 2017
3 recorded transactions
Zoning & alternative use
BU-2 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+52.7%
Auto repair, garage
$1.1M
+34.3%
Office building
$885,000
+9.9%
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%
$1,085,000
6.5%
$1,005,000
7%
$930,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$805,000
Current use
COMMERCIAL (GENERAL)
$1,225,000
Change: +53% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,080,000
Change: +34% · Conversion: Difficult
OFFICE BUILDING
$885,000
Change: +10% · Conversion: Easy
RETAIL STORES
$835,000
Change: +4% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$715,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$770k
Range $693k – $847k · ±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
$149 / 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
$18,118
Tax year 2023
Assessed value
$1,274,490
Assessed 2023
Previous assessed
$1,220,330
+4.4% YoY
Effective rate
1.42%
On assessed value
Assessed land
$490,070
Assessed improvement
$784,420
Land market value
$490,070
Improvement market value
$784,420
Total market value
$1,274,490
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
Medical Office Space
Use group
DENTAL BUILDING
Status
Off-Market
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Units
1
Total area
5,178 SF
Lot
1.13 ac (49,223 SF)
Zoning code
BU-2
APN
24-37-31-00-00007.0-0000.00
UPID
US18-8935969
Jurisdiction
BREVARD
Zoning & alternative use
BU-2 · Merritt Island, FLZoning BU-2 · permitted uses
BU-2 · Merritt Island, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$805,000
COMMERCIAL (GENERAL)
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
OFFICE BUILDING
Est. value
$885,000
RETAIL STORES
Est. value
$835,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$715,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
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
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Lot
1.13 ac
Current owner
From public records · entity-resolved
Merritt 1730 LLC
Entity
Mailing address
33 SW FLAGLER AVE, STUART, FL 34994-2140
Ownership since
2017
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
Jul 22, 2019
—
Merritt 1730 LLC
—
Deed
related
$391,000 · First Citizens Bank & Trust Co
Nov 27, 2017
$685,000
Merritt 1730 LLC
Lewis John T Trust
Grant Deed
—
Oct 24, 2008
$1,000,000
Wasfi Makar
Lewis John T Trust
Grant Deed
$800,000 · Lewis John T Trust (tr)
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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