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Property profile & analytics
FOR SALE
Medical Office Space
2180 N Courtenay Pkwy, Merritt Island, FL 32953
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-3047936
For Sale
$225,000
2180 N Courtenay Pkwy, Merritt Island, FL 32953
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,954 SF
Lot
1.04 ac (45,302 SF)
APN
24-36-14-00-00537.0-0000.00
UPID
US18-3047936
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
-
Florida Prosthodontics - Merritt Island Dental Office Physician
-
Digital Dentistry Institute Dental Office Vocational School
-
Rawal Raj M DDS Dental Office Physician
-
Sundeep Rawal Dental Office Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$850k
CAP Approach
CAP
$570k
Comparable Approach
Comparable
$661k
Blend (final)
Blend
$850k
Owner & transaction history
Rawal Family Holdings LLC · 2 yrs held
Rawal Family Holdings LLC
since 2024
Last sale
$850,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$700,000
+52.7%
Auto repair, garage
$615,000
+34.3%
Office building
$525,000
+14.1%
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
$850,000
ML approach
$850,000
CAP Approach
CAP Return
Estimation
6%
$620,000
6.5%
$570,000
7%
$530,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$700,000
Change: +53% · Conversion: Easy
AUTO REPAIR, GARAGE
$615,000
Change: +34% · Conversion: Difficult
OFFICE BUILDING
$525,000
Change: +14% · Conversion: Easy
Blend value · Realmo final
$850k
Range $765k – $935k · ±10% · vs last sale $850k (Feb 27 2024)
Last sale anchor
$850k
Feb 27 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
$288 / 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
$7,345
Tax year 2023
Assessed value
$520,520
Assessed 2023
Previous assessed
$520,520
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$407,330
Assessed improvement
$113,190
Land market value
$407,330
Improvement market value
$113,190
Total market value
$520,520
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
For Sale
Year built
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
2,954 SF
Lot
1.04 ac (45,302 SF)
APN
24-36-14-00-00537.0-0000.00
UPID
US18-3047936
Jurisdiction
BREVARD
Zoning & alternative use
Zoning · permitted uses
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
COMMERCIAL (GENERAL)
Est. value
$700,000
AUTO REPAIR, GARAGE
Est. value
$615,000
OFFICE BUILDING
Est. value
$525,000
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1994
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
1.04 ac
Current owner
From public records · entity-resolved
Rawal Family Holdings LLC
Entity
Mailing address
9053 MAYFAIR POINTE DR, ORLANDO, FL 32827-7083
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 27, 2024
$850,000
Rawal Family Holdings LLC
Merritt Dental Properties LLC
Warranty Deed
$680,000 · Community Bank Of The South
Sep 9, 2020
$700,000
Merrit Dental Properties LLC
Rawal Holdings LLC
Warranty Deed
—
Nov 17, 2017
—
Rawal Holdings LLC
—
Trustees Deed
related
$100,000 · Community Bk
Jan 2, 2013
$725,000
Rawal Holdings LLC
Rawal,raj M
Warranty Deed
—
—
—
Raj M Rawal
—
Deed Of Trust
related
$224,000 · Community Bank Of The South
—
—
Raj M Rawal
—
Deed Of Trust
related
$120,000 · Community Bank Of The South
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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