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Property profile & analytics
OFF-MARKET
Estimated value
$1,020,000
Medical Office Space
455 Magnolia Ave Ste A, Merritt Island, FL 32952-4838
Individually Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-5123991
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1978
Construction
WOOD
Total area
10,570 SF
Lot
0.41 ac (17,860 SF)
Zoning code
BU-2
APN
24-36-35-28-0000B.0-0013.00
UPID
US18-5123991
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
-
Goff Orthodontics Dental Office
-
Dr. Romia Goff Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.13M
Blend (final)
Blend
$1.02M
Owner & transaction history
Bruce Gutoski · 9 yrs held
Bruce Gutoski
since 2017
7 recorded transactions
Zoning & alternative use
BU-2 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
MEDICAL BUILDING
$1,640,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,455,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$1.02M
Range $918k – $1.12M · ±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
$96 / 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
$12,814
Tax year 2023
Assessed value
$891,920
Assessed 2023
Previous assessed
$851,410
+4.8% YoY
Effective rate
1.44%
On assessed value
Assessed land
$138,600
Assessed improvement
$753,320
Land market value
$138,600
Improvement market value
$753,320
Total market value
$891,920
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1978
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
1
Units
2
Bathrooms
2
Total area
10,570 SF
Lot
0.41 ac (17,860 SF)
Zoning code
BU-2
APN
24-36-35-28-0000B.0-0013.00
UPID
US18-5123991
Jurisdiction
BREVARD
Zoning & alternative use
BU-2 · Merritt Island, FL
Zoning BU-2 · permitted uses
BU-2 · 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
MEDICAL BUILDING Current
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
MEDICAL BUILDING Current
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
1978
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Units
2
Bathrooms
2
Lot
0.41 ac
Current owner
From public records · entity-resolved
Bruce Gutoski
Individual
Mailing address
6624 LIBERTY PL, VERO BEACH, FL 32966-8991
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 2022
—
Peerless Vision Properties LLC
—
Deed
related
$613,000 · Bank Of America NA
Mar 22, 2017
$302,000
Bruce Gutoski
John W Faul Dmd Pa
Warranty Deed
related
—
May 15, 2015
$750,000
Peerless Vision Properties LLC
Belle Rive Properties LLC
Warranty Deed
—
Feb 13, 2012
—
Paul Ouellette
Belle Rive Properties LLC
Quit Claim Deed
related
—
Mar 30, 2011
$1,022,500
Belle Rive Properties LLC
Belle Rive Properties LLC
Grant Deed
related
—
Sep 16, 2010
—
Damiano Nicholas Living Trust
Belle Rive Properties Coc
Trustees Deed
related
—
—
—
Pantelis I Markogiannakis
—
Deed Of Trust
related
$361,470 · First Union National Bank
—
—
Belle Rive Properties LLC
—
Deed Of Trust
related
$500,000 · Indian River National Bank
—
—
Belle Rive Properties LLC
—
Deed Of Trust
related
$1,450,000 · Bank Of America
—
—
Pantelis I Markogiannakis
—
Deed Of Trust
related
$100,000 · Bank Of America
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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