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    5205 Tropical Trl Merritt Island, FL 32952

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    5205 Tropical Trl Merritt Island, FL 32952

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    • Commercial real estate
    Off-Market
    Property ID
    US18-5081698
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 5205 Tropical Trl

    Property type
    Commercial real estate

    Description

    This exceptional one-acre commercial and residential lot, located at 5205 S Tropical Trail in the desirable Hacienda Del Sol Estates of Merritt Island, Florida (zip code 32952), presents a unique investment opportunity. Boasting 43,560 square feet of land, this corner lot offers breathtaking waterfront views of the Banana River. A significant advantage is the already approved 236-foot dock variance from the HOA, simplifying the process of building your dream dock. The property features a pre-existing house pad, saving time and resources on initial construction. Imagine waking up to stunning sunrises and enjoying tranquil moonlit nights over the river. The location in Brevard County, Florida, provides easy access to local amenities and attractions. This versatile property is suitable for a variety of commercial and residential uses, making it an ideal choice for developers or individuals seeking a prime waterfront location to build their dream home or commercial venture. The asking price is $735,000. Don't miss this rare opportunity to own a piece of paradise on the Banana River.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Merritt Island
    County
    Brevard
    State
    Florida
    Longitude
    -80.663309
    Latitude
    28.264504

    Comparable in this City

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    • $279,900

      Banana Riverfront Vacant Land

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    • New
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      Pending

      Merritt Island Vacant Lot

      One acre vacant lot in Hacienda Del Sol Community.
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    • $129,900
      0.32 Acres

      Residential Land in Merritt Island

      Two treed lots available in Merritt Island, Florida.
      1462 Newfound Harbor Dr, Merritt Island, FL 32952
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    Similar Nearby for Sale

    • $700,000

      Merritt Island Waterfront Land

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      29xx Newfound Harbor Dr, Merritt Island, FL 32952
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      East Merritt Island Causeway Land

      Land available on East Merritt Island Causeway.
      Mall Sears At Merritt Is Sq, Merritt Island, FL 32952
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    • $279,900

      Banana Riverfront Vacant Land

      6.31 acres with nearly 400 feet of Banana River frontage.
      3190 South Courtenay Pkwy, Merritt Island, FL 32952
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    • New
      $430,000
      Pending

      Merritt Island Vacant Lot

      One acre vacant lot in Hacienda Del Sol Community.
      155 Hacienda Dr, Merritt Island, FL 32952
      View Details
    • $129,900
      0.32 Acres

      Residential Land in Merritt Island

      Two treed lots available in Merritt Island, Florida.
      1462 Newfound Harbor Dr, Merritt Island, FL 32952
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
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      Merritt Island Causeway Retail Space

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      Merritt Island Office/Medical Space

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      Class A Office Space Available

      Professional office building in the heart of Merritt Island.
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    • $2,695 /Mo
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      Modern Retail/Office Space Available

      New construction retail/office space in high-traffic Merritt Island location.
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    • $75,000
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      Former Car Dealership with Amenities

      Former car dealership with offices, service bays, and unique amenities.
      1850 E Merritt Island Cswy, Merritt Island, FL 32952
      View Details
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    Merritt Island, FL 32952
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    5205 Tropical Trl, Merritt Island, FL, 32952

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