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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Retail space
2445 Courtenay Pkwy Ste B Merritt Island, FL 32953-4196
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US18-9372008
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,270 SF
Lot
1.37 ac (59,677 SF)
Zoning code
BU1
APN
24-36-14-00-00274.0-0000.00
UPID
US18-9372008
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
-
Solar Lube Auto Repair Shop
-
Solar Car Wash Car Wash
-
Dunkin' Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$580k
Comparable Approach
Comparable
$511k
Blend (final)
Blend
$550k
Owner & transaction history
Island Realty Group LLC · 16 yrs held
Island Realty Group LLC
since 2009
7 recorded transactions
Zoning & alternative use
BU1 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$775,000
+47.3%
Auto repair, garage
$680,000
+29.6%
Office building
$580,000
+10.1%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$630,000
6.5%
$580,000
7%
$540,000
Alternative Use
Use
Estimation
RETAIL STORES
$525,000
Current use
COMMERCIAL (GENERAL)
$775,000
Change: +47% · Conversion: Easy
AUTO REPAIR, GARAGE
$680,000
Change: +30% · Conversion: Difficult
OFFICE BUILDING
$580,000
Change: +10% · Conversion: Easy
MEDICAL BUILDING
$510,000
Change: -4% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$450,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$550k
Range $495k – $605k · ±10%
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
$168 / 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
$20,205
Tax year 2023
Assessed value
$1,170,940
Assessed 2023
Previous assessed
$1,162,020
+0.8% YoY
Effective rate
1.73%
On assessed value
Assessed land
$537,090
Assessed improvement
$633,850
Land market value
$537,090
Improvement market value
$633,850
Total market value
$1,170,940
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Buildings
3
Stories
1
Units
1
Bathrooms
3
Total area
3,270 SF
Lot
1.37 ac (59,677 SF)
Zoning code
BU1
APN
24-36-14-00-00274.0-0000.00
UPID
US18-9372008
Jurisdiction
BREVARD
Zoning & alternative use
BU1 · Merritt Island, FLZoning 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
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$525,000
COMMERCIAL (GENERAL)
Est. value
$775,000
AUTO REPAIR, GARAGE
Est. value
$680,000
OFFICE BUILDING
Est. value
$580,000
MEDICAL BUILDING
Est. value
$510,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$450,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1990
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Buildings
3
Units
1
Bathrooms
3
Lot
1.37 ac
Current owner
From public records · entity-resolved
Island Realty Group LLC
Entity
Mailing address
PO BOX 470458, CELEBRATION, FL 34747-0458
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 22, 2020
—
Island Realty Group LLC
—
Deed
related
$700,000 · Midflorida Cu
Dec 29, 2009
$1,200,000
Island Realty Group LLC
Guest,theresa
Warranty Deed
$840,000 · Guest Theresa K Family Tr (pt)
Oct 29, 2009
—
Theresa Guest
Sebastian River Holdin Coc
Trustees Deed
related
—
—
—
Sebastian River Holding Corp
—
Deed Of Trust
related
$50,000 · Aaa Capital & Leasing INC
—
—
Island Realty Group LLC
—
Deed Of Trust
related
$700,000 · Midflorida Cu
—
—
Sebastian River Holding Corp
—
Deed Of Trust
related
$700,000 · Cocoa Beach Partners
—
—
Sebastian River Holding Corp
—
Deed Of Trust
related
$250,000 · Cocoa Beach Partners
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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