200 Courtenay Pkwy Ste A Merritt Island, FL 32952-4807
Entity Owned
28-yr Hold
Absentee Owner
Free & Clear
Estimated value (blended)
$330k
Range $297k – $363k (±10%)
Property ID
US18-3082384
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,486 SF
Lot
0.43 ac (18,731 SF)
Zoning code
BU2
APN
24-36-35-02-00000.0-00050.B
UPID
US18-3082384
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Big Box & Wholesale Store Building Supply
-
Car Rental Facility
-
Big Box & Wholesale Store
-
Propane Supplier
-
Plumbing Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.00M
Comparable Approach
Comparable
$994k
Blend (final)
Blend
$330k
Owner & transaction history
since 1997
1 recorded transaction
Zoning & alternative use
BU2 · Merritt Island, FL
Top alternative use upside
Commercial (general)
$1.1M
+39.0%
Auto repair, garage
$935,000
+22.3%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 13 comparables with addresses
6 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$330k
Value range
$297k – $363k
±10% around blend
Estimated value / SF
$74 / SF
Confidence
High
13 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
100
$297k
blend $330k
$363k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
4,486 SF
Lot area
0.43 ac
Year built
1983
Stories
1
APN
24-36-35-02-00000.0-00050.B
Assessed value
$529,020
Annual tax
$7,694
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.00M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.09M
@ 6.5% CAP return
$1.00M
@ 7% CAP return
$930k
4
Sales comparison
Partial preview
Sales approach indication
$731k
Weighted, 13 comps · high confidence
Evidence
13 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
2.1 mi away · 4,409 SF
4.5 mi away · 5,598 SF
7.9 mi away · 3,200 SF
10.3 mi away · 5,103 SF
14.0 mi away · 4,240 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$330k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 53 sales
$171
-57%
County 529 sales
$189
-61%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $74/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+39%
vs current-use indication
Auto Repair, Garage
Office Building · current use
Retail Stores
Medical Building
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 13 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$529k
Move the market yield to see immediate price impact.
Value / SF
$118
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$33k
$667k
$476k
$370k
$37k
$741k
$529k
$411k
$41k
$815k
$582k
$453k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
13 found
High confidence · county-verified
Closest comparable
$450k
1.8 mi · Mar 2026 · $122/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$7,694
Tax year 2023
Assessed value
$529,020
Assessed 2023
Previous assessed
$471,330
+12.2% YoY
Effective rate
1.45%
On assessed value
Assessed land
$132,300
Assessed improvement
$396,720
Land market value
$132,300
Improvement market value
$396,720
Total market value
$529,020
Applied tax rate
2,200.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
1
Total area
4,486 SF
Lot
0.43 ac (18,731 SF)
Zoning code
BU2
APN
24-36-35-02-00000.0-00050.B
UPID
US18-3082384
Jurisdiction
BREVARD
Zoning & alternative use
BU2 · Merritt Island, FLZoning BU2 · permitted uses
BU2 · Merritt Island, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
1
Lot
0.43 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
BU2
Jurisdiction
Merritt Island, FL
Recorded code
BU2
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Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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