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Property profile & analytics
OFF-MARKET
Estimated value
$765,000
Office buildings
255 Grv St Merritt Island, FL 32953-3421
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US19-0741636
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
9,120 SF
Lot
0.43 ac (18,731 SF)
Zoning code
BU1
APN
24-36-35-32-0000K.0-0007.00
UPID
US19-0741636
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
-
Village Hairworks Hair Salon Nail Salon
-
Ciener & Ciener Law Firm Law Firm
-
Alliant Counseling Services, Inc. Counselor Mental Health Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$615k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$997k
Blend (final)
Blend
$765k
Owner & transaction history
Mj Northgrove LLC · 2 yrs held
Mj Northgrove LLC
since 2023
Last sale
$775,000
5 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
Method
Estimation
Statistic approach
$675,000
ML approach
$615,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$765k
Range $689k – $842k · ±10% · vs last sale $775k (Sep 6 2023)
Last sale anchor
$775k
Sep 6 2023
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
$84 / 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
$8,726
Tax year 2023
Assessed value
$582,960
Assessed 2023
Previous assessed
$560,910
+3.9% YoY
Effective rate
1.50%
On assessed value
Assessed land
$131,250
Assessed improvement
$451,710
Land market value
$131,250
Improvement market value
$451,710
Total market value
$582,960
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
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Units
5
Total area
9,120 SF
Lot
0.43 ac (18,731 SF)
Zoning code
BU1
APN
24-36-35-32-0000K.0-0007.00
UPID
US19-0741636
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
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
5
Lot
0.43 ac
Current owner
From public records · entity-resolved
Mj Northgrove LLC
Entity
Mailing address
7901 4TH ST N STE #300, SAINT PETERSBURG, FL 33702-4399
Ownership since
2023
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
Sep 6, 2023
$775,000
Mj Northgrove LLC
Daniel Ciener
Warranty Deed
$715,000 · Daniel Ciener Etux
Jul 1, 2008
—
Daniel S Ciener
—
Trustees Deed
related
$500,000 · Coastal Bank
Mar 9, 2007
$38,400
Daniel S Ciener
Ciener,daniel S
Warranty Deed
related
—
—
—
Daniel S Ciener
—
Deed Of Trust
related
$101,415 · Bank Of America
—
—
Daniel S Ciener
—
Deed Of Trust
related
$500,000 · Coastal Bank
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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