1850 E Merritt Island Cswy Merritt Island, FL 32952
- Automotive properties
- 36,522 SF
- 6.92 lot acres
Current Use by Public Records
- Quick Lane at Island Lincoln / Auto Repair Shop
- Island Tiki Grill / Bar & Pub / Restaurant
Property Details for 1850 E Merritt Island Cswy
- Year built
- 2003
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 6.92 lot acres
- Property size
- 36,522 SF
- Zone code
- BU-2
- Property type
- Automotive properties
- APN
- 24-37-31-00-00001.1-0000.00
- APU
- 9223372036854775807
Description
This exceptional commercial property, located at 1850 E Merritt Island Causeway, presents a unique investment opportunity. The listing encompasses the west building, totaling 66,318 square feet, and is zoned BU2. This single-tenant property sits on a substantial 6.92-acre lot (APN: 24-37-31-00-00001.1-0000.00). The building's versatile layout includes approximately 20,000 square feet of high-quality professional and executive office space, ideal for a variety of businesses. In addition to the office space, there's a significant 30,000 square feet dedicated to service bays, warehouse space, and storage areas, providing ample room for operations and inventory. A remarkable feature is the 17,000 square foot amenity area, offering a diverse range of spaces including a restaurant, gym, playroom, daycare center, movie theater, multiple conference rooms, a barbershop, and a game room. This expansive amenity space presents significant potential for employee retention, tenant attraction, or even independent revenue streams. The property's former use as a car dealership speaks to its adaptability and inherent functionality. This is a rare opportunity to acquire a large, well-appointed commercial property with significant potential for diverse uses and substantial returns. Serious inquiries only.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $5,470,000
- ML approach
- $5,970,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $5,470,000
Market price range: $1.82M - $5.47M -
Alternative Use
- Use
- Estimation
- AUTO REPAIR, GARAGE
- $7,615,000 Current use
- COMMERCIAL (GENERAL)
- $8,655,000 Change: +14% Conversion: Moderate
- OFFICE BUILDING
- $6,225,000 Change: -18% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Merritt Island
- County
- Brevard
- State
- Florida
- Longitude
- -80.6635
- Latitude
- 28.3584
- CBSA code
- 37340
- CBSA name
- PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA