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Property profile & analytics
OFF-MARKET
Office buildings
2425 Courtenay Pkwy Merritt Island, FL 32953-4100
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US19-0017387
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1987
Construction
WOOD
Total area
21,328 SF
Lot
1.46 ac (63,598 SF)
Zoning code
BU1
APN
24-36-14-00-00282.0-0000.00
UPID
US19-0017387
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
-
Cozy Corner Cafe Restaurant
-
Travis D. Boersma, DPT Medical Clinic
-
Avid Home Care Services Home Health Care Service Handicapped Transportation Service
-
A Better Cut Barber Shop Barber Shop
-
Anvil Institute Training Center Sports School
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
Penelope Ann Ercolano · 1 yrs held
Penelope Ann Ercolano
since 2025
Last sale
$210,000
2 recorded transactions
Zoning & alternative use
BU1 · 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
$21,057
Tax year 2023
Assessed value
$1,427,750
Assessed 2023
Previous assessed
$1,244,730
+14.7% YoY
Effective rate
1.47%
On assessed value
Assessed land
$573,790
Assessed improvement
$853,960
Land market value
$573,790
Improvement market value
$853,960
Total market value
$1,427,750
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1987
Construction
WOOD
Heating
FORCED AIR
Cooling
YES
Stories
2
Units
16
Total area
21,328 SF
Lot
1.46 ac (63,598 SF)
Zoning code
BU1
APN
24-36-14-00-00282.0-0000.00
UPID
US19-0017387
Jurisdiction
BREVARD
Zoning & alternative use
BU1 · Merritt Island, FL
Zoning BU1 · permitted uses
BU1 · 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
1987
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
16
Lot
1.46 ac
Current owner
From public records · entity-resolved
Penelope Ann Ercolano
Individual
Free & Clear · 1 yrs held
Mailing address
100 CASHWELL DR, GOLDSBORO, NC 27534-7520
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 22, 2025
$210,000
Penelope Ann Ercolano
Jean M Curran
Warranty Deed
—
Jun 22, 2004
—
Michael Kalimnios
—
Trustees Deed
related
$400,000 · Despina D Kalimnios
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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