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Property profile & analytics
OFF-MARKET
Medical Office Space
231 Mcleod St, Merritt Island, FL 32953-3463
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US18-5581508
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,426 SF
Lot
0.23 ac (10,019 SF)
Zoning code
BU-1
APN
24-36-35-32-0000L.0-0005.00
UPID
US18-5581508
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
-
Kring Harold R DDS Dental Office
-
Robert E. Clayton ll MD Physician
-
Robert English Health First Medical Grp Physician
-
Eastcoast Esthetics Spa & Massage Center
-
Marissa Barger Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Mcleod Properties LLC · 20 yrs held
Mcleod Properties LLC
since 2005
5 recorded transactions
Zoning & alternative use
BU-1 · Merritt Island, FL
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
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
$4,547
Tax year 2023
Assessed value
$302,880
Assessed 2023
Previous assessed
$274,070
+10.5% YoY
Effective rate
1.50%
On assessed value
Assessed land
$70,000
Assessed improvement
$232,880
Land market value
$70,000
Improvement market value
$232,880
Total market value
$302,880
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
Off-Market
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Rooms
1
Total area
2,426 SF
Lot
0.23 ac (10,019 SF)
Zoning code
BU-1
APN
24-36-35-32-0000L.0-0005.00
UPID
US18-5581508
Jurisdiction
BREVARD
Zoning & alternative use
BU-1 · Merritt Island, FL
Zoning BU-1 · permitted uses
BU-1 · Merritt Island, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Merritt Island. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1930
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Rooms
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
Mcleod Properties LLC
Entity
Mailing address
231 MCLEOD ST, MERRITT ISLAND, FL 32953-3463
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 1, 2005
$375,000
Mcleod Properties LLC
Craig D Thompson
Warranty Deed
$281,250 · Banco Popular North America
Jul 7, 2000
$149,000
Craig D Thompson
Boucher,norman G & Marie A
Grant Deed
$229,000 · Community Bank Of The South
—
—
Deborah F Dean
—
Deed Of Trust
related
$60,000 · Sunrise Bank
—
—
Mcleod Properties LLC
—
Deed Of Trust
related
$280,500 · Bank Of America
—
—
Craig D Thompson
—
Deed Of Trust
related
$33,325 · 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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