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Property profile & analytics
OFF-MARKET
Estimated value
$1,260,000
Day care centers
450 Merritt Is Cswy, Merritt Island, FL 32952-3503
Individually Owned
9-yr Hold
Free & Clear
Property ID
US18-3064557
Property profile
Verified
Property type
Day care centers
Use group
DAY CARE, PRE-SCHOOL
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
30,674 SF
Lot
2.99 ac (130,244 SF)
Zoning code
BU2
APN
24-36-36-25-00000.0-0003.00
UPID
US18-3064557
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
-
Physician Partners of America - Pain Relief Group Physician
-
Anthony H. Guarino, MD Physician
-
Merritt Island Outpatient Surgery Center - Pain Management | PPOA Physician
-
Steven Alukonis Alternative Medicine Practice
-
Dr. Renata Khelemsky Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.26M
Owner & transaction history
Merritt Island Medical Prop 1 · 9 yrs held
Merritt Island Medical Prop 1
since 2017
6 recorded transactions
Zoning & alternative use
BU2 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.0M
+8.2%
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
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE
$1,875,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,025,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$1.26M
Range $1.13M – $1.39M · ±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
$41 / 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
$58,917
Tax year 2023
Assessed value
$4,200,650
Assessed 2023
Previous assessed
$4,107,140
+2.3% YoY
Effective rate
1.40%
On assessed value
Assessed land
$1,350,440
Assessed improvement
$2,850,210
Land market value
$1,350,440
Improvement market value
$2,850,210
Total market value
$4,200,650
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
Day care centers
Use group
DAY CARE, PRE-SCHOOL
Status
Off-Market
Year built
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Stories
2
Units
2
Total area
30,674 SF
Lot
2.99 ac (130,244 SF)
Zoning code
BU2
APN
24-36-36-25-00000.0-0003.00
UPID
US18-3064557
Jurisdiction
BREVARD
Zoning & alternative use
BU2 · Merritt Island, FL
Zoning 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
Merritt Island. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
Est. value
$1.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
COLLEGE, UNIVERSITY, VOCATIONAL SCHOOL - PRIVATE Current
APARTMENT HOUSE (5+ UNITS)
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
2000
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
2
Lot
2.99 ac
Current owner
From public records · entity-resolved
Merritt Island Medical Prop 1
Individual
Free & Clear · 9 yrs held
Mailing address
550 N REO ST STE #100, TAMPA, FL 33609-1033
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2022
—
Landmark Infrastructure Holding Co
—
Deed
related
$219,658,000 · Wilmington Trust NA
Jul 2, 2018
—
Merit Bk
—
Deed
related
$4,280,061 · Valley Nat'l Bk
Jun 2, 2017
$2,175,000
Merritt Island Medical Prop 1
Cc Merritt Island LLC
Warranty Deed
related
—
Dec 30, 2011
$1,175,000
Cc Merritt Island LLC
Fifth Third Bk
Grant Deed
—
Apr 11, 2011
—
Fifth Third Bk
Galleria Ptshp Trust 1001
Trustees Deed
related
—
—
—
Merit Bk
—
Deed Of Trust
related
$4,280,061 · Valley Nat'l Bk
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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