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Property profile & analytics
OFF-MARKET
Estimated value
$605,000
Strip malls
3585 Courtenay Pkwys Merritt Island, FL 32953-8014
Entity Owned
23-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-2875006
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,382 SF
Lot
2.07 ac (90,169 SF)
Zoning code
BU2
APN
24-36-02-00-00516.0-0000.00
UPID
US18-2875006
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
-
Florida Notary Professionals Law Firm
-
IATSE Local 780 Advocacy Group
-
Bambi's Canvas, LLC Furniture & Home Goods
-
Sooner Dental Equipment Department Store
-
Notary Swag Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$842k
Blend (final)
Blend
$605k
Owner & transaction history
SARAH NACCA
SARAH NACCA
Zoning & alternative use
BU2 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$915,000
+51.4%
Office building
$775,000
+28.6%
Retail stores
$705,000
+16.8%
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
NEIGHBORHOOD: SHOPPING CENTER
$605,000
Current use
AUTO REPAIR, GARAGE
$915,000
Change: +51% · Conversion: Difficult
OFFICE BUILDING
$775,000
Change: +29% · Conversion: Moderate
RETAIL STORES
$705,000
Change: +17% · Conversion: Easy
MEDICAL BUILDING
$680,000
Change: +13% · Conversion: Difficult
WAREHOUSE, STORAGE
$550,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$605k
Range $545k – $666k · ±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
$138 / 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
$8,582
Tax year 2023
Assessed value
$509,230
Assessed 2023
Previous assessed
$509,230
+0.0% YoY
Effective rate
1.69%
On assessed value
Assessed land
$180,000
Assessed improvement
$329,230
Land market value
$180,000
Improvement market value
$329,230
Total market value
$509,230
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
1
Units
4
Total area
4,382 SF
Lot
2.07 ac (90,169 SF)
Zoning code
BU2
APN
24-36-02-00-00516.0-0000.00
UPID
US18-2875006
Jurisdiction
BREVARD
Zoning & alternative use
BU2 · Merritt Island, FLZoning BU2 · permitted uses
BU2 · Merritt Island, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$605,000
AUTO REPAIR, GARAGE
Est. value
$915,000
OFFICE BUILDING
Est. value
$775,000
RETAIL STORES
Est. value
$705,000
MEDICAL BUILDING
Est. value
$680,000
WAREHOUSE, STORAGE
Est. value
$550,000
NEIGHBORHOOD: SHOPPING CENTER Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
MEDICAL BUILDING
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
1991
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Units
4
Lot
2.07 ac
Current owner
From public records · entity-resolved
SARAH NACCA
Individual
Free & Clear · 0 yrs held
Mailing address
3145 N TROPICAL TRL, MERRITT ISLAND, FL 32953-8218
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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