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Property profile & analytics
OFF-MARKET
Estimated value
$660,000
Office buildings
380 Courtenay Pkwy Merritt Island, FL 32952-4859
Entity Owned
4-yr Hold
Free & Clear
Property ID
US18-4656772
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,929 SF
Lot
0.45 ac (19,602 SF)
Zoning code
BU1A
APN
24-36-35-00-00753.1-0000.00
UPID
US18-4656772
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
-
Cathy Cowger Broker-Associate aReal Estate Service Team Real Estate Agency
-
Zachary Spurlock, RE/MAX Elite Real Estate Agency
-
Dan Barber, aReal Estate Service Team Real Estate Agency
-
Dockside Title Title Company
-
Friendly Tax Services Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$590k
CAP Approach
CAP
$875k
Comparable Approach
Comparable
$745k
Blend (final)
Blend
$660k
Owner & transaction history
380 S Courtenay LLC · 4 yrs held
380 S Courtenay LLC
since 2021
Last sale
$470,000
5 recorded transactions
Zoning & alternative use
BU1A · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$930,000
+39.0%
Auto repair, garage
$820,000
+22.3%
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
$725,000
ML approach
$590,000
CAP Approach
CAP Return
Estimation
6%
$950,000
6.5%
$875,000
7%
$815,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$670,000
Current use
COMMERCIAL (GENERAL)
$930,000
Change: +39% · Conversion: Easy
AUTO REPAIR, GARAGE
$820,000
Change: +22% · Conversion: Difficult
RETAIL STORES
$630,000
Change: -6% · Conversion: Moderate
MEDICAL BUILDING
$610,000
Change: -9% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$540,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$660k
Range $594k – $726k · ±10% · vs last sale $470k (Oct 12 2021)
Last sale anchor
$470k
Oct 12 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
$168 / 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
$5,980
Tax year 2023
Assessed value
$396,510
Assessed 2023
Previous assessed
$378,240
+4.8% YoY
Effective rate
1.51%
On assessed value
Assessed land
$53,420
Assessed improvement
$343,090
Land market value
$53,420
Improvement market value
$343,090
Total market value
$396,510
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
Status
Off-Market
Year built
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
2
Total area
3,929 SF
Lot
0.45 ac (19,602 SF)
Zoning code
BU1A
APN
24-36-35-00-00753.1-0000.00
UPID
US18-4656772
Jurisdiction
BREVARD
Zoning & alternative use
BU1A · Merritt Island, FL
Zoning BU1A · permitted uses
BU1A · 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
OFFICE BUILDING Current
Est. value
$670,000
COMMERCIAL (GENERAL)
Est. value
$930,000
AUTO REPAIR, GARAGE
Est. value
$820,000
RETAIL STORES
Est. value
$630,000
MEDICAL BUILDING
Est. value
$610,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$540,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1979
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
2
Lot
0.45 ac
Current owner
From public records · entity-resolved
380 S Courtenay LLC
Entity
Free & Clear · 4 yrs held
Mailing address
380 S COURTENAY PKWY, MERRITT ISLAND, FL 32952-4859
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2022
—
380 S Courtenay LLC
—
Deed
related
$300,000 · Td Bank NA
Oct 12, 2021
—
380 S Courtenay LLC
Nicholas Chambers
Quit Claim Deed
related
—
Feb 26, 2021
$470,000
Nicholas Chambers
Susan Loy Barber
Warranty Deed
$340,000 · Michael Storey
Jan 15, 2020
—
Barber Family Trust
Daniel J Barber
Quit Claim Deed
related
—
Mar 2, 2011
$350,000
Sudan Family Trust
Quenzler,laird C & Clair N
Warranty Deed
$340,000 · Quenzler Laird C Trust (pt)
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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