Entity Owned Property summary
AI-generated overview
This office space is located on Grove Street in Historic Merritt Park Place and is suitable for office, studio, or small shop use. The available unit is the left (south) of two units in a block-constructed building with a metal roof, hurricane shutters, and tall ceilings. Entry is through a private front entrance with a small porch into a reception/show/waiting room featuring a semi-private reception desk. The interior includes a large conference or meeting room, storage area, a private office, and a private bathroom with additional storage. Architectural and finishes include plantation shutters and tile floors throughout, and there is a private back entrance with a full roll-down hurricane shutter. The unit has a living area of approximately 800 square feet, sits on a 0.22-acre lot, and is zoned for commercial, residential, and office use; parking is provided with two spaces directly in front of the unit and additional parking toward the back of the building.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,302 SF
Lot
0.22 ac (9,583 SF)
Zoning code
BU1
APN
24-36-35-32-0000K.0-0011.00
UPID
US18-5915572
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$410k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$410k
Owner & transaction history
since 2026
Last sale
$425,000
5 recorded transactions
Zoning & alternative use
BU1 · Merritt Island, FL
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 5 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$410k
Value range
$369k – $451k
±10% around blend
Estimated value / SF
$178 / SF
Confidence
High
5 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
50
$369k
blend $410k
$451k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
2,302 SF
Lot area
0.22 ac
Year built
1959
Stories
1
APN
24-36-35-32-0000K.0-0011.00
Zoning
BU1
Assessed value
$213,500
Annual tax
$3,418
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$464k
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
0.8 mi away · 1,920 SF
1.2 mi away · 2,135 SF
2.7 mi away · 1,750 SF
9.1 mi away · 2,350 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$410k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 36 sales
$177
+1%
Submarket 53 sales
$171
+4%
County 529 sales
$189
-6%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $178/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$425k
Move the market yield to see immediate price impact.
Value / SF
$185
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$27k
$536k
$382k
$298k
$30k
$595k
$425k
$331k
$33k
$655k
$467k
$364k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$650k
0.6 mi · May 2026 · $245/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,418
Tax year 2023
Assessed value
$213,500
Assessed 2023
Previous assessed
$200,910
+6.3% YoY
Effective rate
1.60%
On assessed value
Assessed land
$65,630
Assessed improvement
$147,870
Land market value
$65,630
Improvement market value
$147,870
Total market value
$213,500
Applied tax rate
2,200.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
2
Total area
2,302 SF
Lot
0.22 ac (9,583 SF)
Zoning code
BU1
APN
24-36-35-32-0000K.0-0011.00
UPID
US18-5915572
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
Building & site characteristics
From public records
Year built
1959
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
2
Lot
0.22 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
BU1
Jurisdiction
Merritt Island, FL
Recorded code
BU1
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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