Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$555,000
Retail properties & Spaces
2455 Banana Riv Dr Merritt Island, FL 32952
Entity Owned
Free & Clear
Property ID
US18-3327444
Property profile
Verified
Property type
Retail properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,376 SF
Lot
40.93 ac (1,782,911 SF)
Zoning code
GML
APN
24-37-18-00-00004.0-0000.00
UPID
US18-3327444
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
-
Kelly Park West Park
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$621k
Blend (final)
Blend
$555k
Owner & transaction history
BREVARD COUNTY
BREVARD COUNTY
Zoning & alternative use
GML · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$800,000
+70.6%
Auto repair, garage
$705,000
+50.1%
Office building
$575,000
+22.7%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING)
$470,000
Current use
COMMERCIAL (GENERAL)
$800,000
Change: +71% · Conversion: Difficult
AUTO REPAIR, GARAGE
$705,000
Change: +50% · Conversion: Difficult
OFFICE BUILDING
$575,000
Change: +23% · Conversion: Difficult
RETAIL STORES
$545,000
Change: +16% · Conversion: Difficult
MEDICAL BUILDING
$525,000
Change: +12% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$465,000
Change: -1% · Conversion: Difficult
WAREHOUSE, STORAGE
$425,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$555k
Range $500k – $611k · ±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
$164 / 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
Assessed value
$1,884,550
Assessed 2023
Previous assessed
$1,904,670
-1.1% YoY
Assessed land
$1,105,110
Assessed improvement
$779,440
Land market value
$1,105,110
Improvement market value
$779,440
Total market value
$1,884,550
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 properties & Spaces
Use group
SERVICE SHOP (TV, ELECTRIC, PLUMBING)
Status
Off-Market
Year built
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
3,376 SF
Lot
40.93 ac (1,782,911 SF)
Zoning code
GML
APN
24-37-18-00-00004.0-0000.00
UPID
US18-3327444
Jurisdiction
BREVARD
Zoning & alternative use
GML · Merritt Island, FL
Zoning GML · permitted uses
GML · 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.
Alternative use value scenarios
Repositioning upside vs current use
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
Est. value
$470,000
COMMERCIAL (GENERAL)
Est. value
$800,000
AUTO REPAIR, GARAGE
Est. value
$705,000
OFFICE BUILDING
Est. value
$575,000
RETAIL STORES
Est. value
$545,000
MEDICAL BUILDING
Est. value
$525,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$465,000
WAREHOUSE, STORAGE
Est. value
$425,000
SERVICE SHOP (TV, RADIO, ELECTRIC, PLUMBING) Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
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
2007
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
40.93 ac
Current owner
From public records · entity-resolved
BREVARD COUNTY
Individual
Free & Clear · 0 yrs held
Mailing address
345 WENNER WAY, COCOA, FL 32926-4226
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2455 Banana Riv Dr?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
