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Property profile & analytics
OFF-MARKET
Estimated value
$720,000
Retail space
35 Courtenay Pkwy Merritt Island, FL 32953-3476
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US18-2830991
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1967
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,852 SF
Lot
0.25 ac (10,890 SF)
Zoning code
BU1
APN
24-36-35-32-0000D.0-0008.00
UPID
US18-2830991
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
-
Merritt Island Discount Pharmacy Pharmacy
-
Hetal Patel Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$695k
CAP Approach
CAP
$860k
Comparable Approach
Comparable
$740k
Blend (final)
Blend
$720k
Owner & transaction history
35 Mi Property LLC · 5 yrs held
35 Mi Property LLC
since 2021
Last sale
$725,000
3 recorded transactions
Zoning & alternative use
BU1 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+47.3%
Auto repair, garage
$1.0M
+29.6%
Office building
$860,000
+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
$600,000
ML approach
$695,000
CAP Approach
CAP Return
Estimation
6%
$930,000
6.5%
$860,000
7%
$800,000
Alternative Use
Use
Estimation
RETAIL STORES
$780,000
Current use
COMMERCIAL (GENERAL)
$1,150,000
Change: +47% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,010,000
Change: +30% · Conversion: Difficult
OFFICE BUILDING
$860,000
Change: +10% · Conversion: Easy
MEDICAL BUILDING
$755,000
Change: -4% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$670,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$720k
Range $648k – $792k · ±10% · vs last sale $725k (Mar 18 2021)
Last sale anchor
$725k
Mar 18 2021
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
$148 / 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
$9,445
Tax year 2023
Assessed value
$618,700
Assessed 2023
Previous assessed
$610,550
+1.3% YoY
Effective rate
1.53%
On assessed value
Assessed land
$98,090
Assessed improvement
$520,610
Land market value
$98,090
Improvement market value
$520,610
Total market value
$618,700
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
1967
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
4,852 SF
Lot
0.25 ac (10,890 SF)
Zoning code
BU1
APN
24-36-35-32-0000D.0-0008.00
UPID
US18-2830991
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.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$780,000
COMMERCIAL (GENERAL)
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.0M
OFFICE BUILDING
Est. value
$860,000
MEDICAL BUILDING
Est. value
$755,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$670,000
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
1967
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
0.25 ac
Current owner
From public records · entity-resolved
35 Mi Property LLC
Entity
Mailing address
35 N COURTENAY PKWY, MERRITT ISLAND, FL 32953-3476
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2021
$725,000
35 Mi Property LLC
Aslan And Associates LLC
Warranty Deed
$543,750 · Iberiabank
Feb 12, 2014
—
Aslan & Associates LLC
Myers,james E
Quit Claim Deed
related
—
Jul 7, 1998
$7,000
Thomas A Williams
Myers,james E
Grant Deed
—
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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