277 Mcleod St Merritt Island, FL 32953-3463
This exceptional commercial property at 277 McLeod Street, Merritt Island, FL 32953, presents a rare investment opportunity. The fully renovated 1,348 square foot bungalow, built in 1925, sits on a spacious 12,632.4 square foot (.29-acre) lot, offering ample parking and expansion potential. The property boasts two distinct office spaces, each with its own private paved entrance, ideal for a professional seeking a dual-purpose workspace or generating rental income. Recent updates include new flooring and refreshed bathrooms (one full and one half). The charming building features a durable aluminum roof and a landscaped backyard complete with three tiki huts. Its prime location in Merritt Park Place provides easy access to local shops, restaurants, and Merritt Island's waterfront. The asking price is $499,000. This property offers a unique blend of historic charm and modern functionality, making it an attractive investment in a highly desirable area. The layout and ample lot size present possibilities for further development or expansion, potentially creating additional income streams. Don't miss this chance to own a piece of Merritt Island's history with significant upside potential.
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Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
BU-1 · Merritt Island, FLMerritt Island. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.