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Property profile & analytics
OFF-MARKET
Estimated value
$3,425,000
Commercial land
2250 Courtenay Pkwy, Merritt Island, FL 32953-4234
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-5748080
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Lot
6.62 ac (288,367 SF)
APN
24-36-14-54-0000A.0-0001.00
UPID
US18-5748080
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
-
Hampton Manor of Merritt Island Nursing Home Retirement Community
-
Hampton Manor of Merritt Island Assisted Living & Memory Care Nursing Home Retirement Community
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.43M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.43M
Owner & transaction history
Zamzam Florida III LLC · 1 yrs held
Zamzam Florida III LLC
since 2024
Last sale
$3.4M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$3,425,000
ML approach
$3,425,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.43M
Range $3.08M – $3.77M · ±10% · vs last sale $3.42M (Oct 7 2024)
Last sale anchor
$3.42M
Oct 7 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
—
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
$10,580
Tax year 2023
Assessed value
$792,480
Assessed 2023
Previous assessed
$792,480
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$792,480
Land market value
$792,480
Total market value
$792,480
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Lot
6.62 ac (288,367 SF)
APN
24-36-14-54-0000A.0-0001.00
UPID
US18-5748080
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
Building & site characteristics
From public records
Lot
6.62 ac
Current owner
From public records · entity-resolved
Zamzam Florida III LLC
Entity
Mailing address
2500 STATE RD 44TH BLVD UNIT #2311, NEW SMYRNA BEACH, FL 32168-8232
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 7, 2024
$3,423,200
Zamzam Florida III LLC
Ivelsa LLC
Warranty Deed
$15,000,000 · Metropolitan Commercial Bank
Oct 7, 2024
$11,959,800
Cincinnati Capital Partners 630 LLC
Hampton Manor Of Merritt Island LLC
Warranty Deed
—
Oct 7, 2024
$6,617,100
Cincinnati Capital Partners 629 LLC
Hampton Manor Of Merritt Island LLC
Warranty Deed
—
Oct 7, 2024
$6,617,600
Zamzam Florida III LLC
Cincinnati Capital Partners 629 LLC
Warranty Deed
—
Oct 7, 2024
$11,959,200
Zamzam Florida III LLC
Cincinnati Capital Partners 630 LLC
Warranty Deed
—
Aug 23, 2021
—
Hampton Manor Of Merritt Island LLC
Investors Lands Hldg Of Merritt Isl
Quit Claim Deed
related
$10,320,000 · Banco Do Brasil Americas
May 26, 2021
—
Starbucks Island Partners LLC
Pioneer Pointe LLC
Correction Deed
related
—
Mar 24, 2021
$900,000
Investors Lands Holdings Of Merritt
Pioneer Pointe LLC
Special Warranty Deed
—
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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