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Property profile & analytics

1850 E Merritt Island Cswy Merritt Island, FL 32952

  • Automotive properties
  • 36,522 SF
  • 6.92 lot acres
For Sale
Last Sale
Jan 20, 2023
$6,300,000
Value Estimations
Cap Rate Potential
Location Intelligence
Property ID
US18-5939450
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

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

based on Realmo’s proprietary methodology
  • 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

Get a detailed, property-specific valuation — fast and free


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

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$79,050
$1,807,790
$3,546,530
$5,354,320
-
$1,807,790
$3,546,530
$5,354,320
More about this property
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