New search
Property profile & analytics
OFF-MARKET
Estimated value
$900,000
Strip malls
60 Merritt Is Cswy Merritt Island, FL 32952-3633
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-5910597
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
8,208 SF
Lot
0.4 ac (17,424 SF)
Zoning code
BU2
APN
24-36-35-02-00000.0-0017.00
UPID
US18-5910597
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
-
Jim Sears Furniture Gallery Furniture & Home Goods Home Decor Store
-
Jim Sears Furniture and Mattress Gallery Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$900k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$986k
Blend (final)
Blend
$900k
Owner & transaction history
Mth Properties LLC · 2 yrs held
Mth Properties LLC
since 2024
Last sale
$900,000
4 recorded transactions
Zoning & alternative use
BU2 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.4M
+23.8%
Retail stores
$1.3M
+16.8%
Medical building
$1.3M
+12.7%
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
$900,000
ML approach
$900,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,130,000
Current use
OFFICE BUILDING
$1,400,000
Change: +24% · Conversion: Moderate
RETAIL STORES
$1,320,000
Change: +17% · Conversion: Easy
MEDICAL BUILDING
$1,275,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$900k
Range $810k – $990k · ±10% · vs last sale $900k (Jun 3 2024)
Last sale anchor
$900k
Jun 3 2024
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
$110 / 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
$7,323
Tax year 2023
Assessed value
$604,920
Assessed 2023
Previous assessed
$548,260
+10.3% YoY
Effective rate
1.21%
On assessed value
Assessed land
$235,160
Assessed improvement
$369,760
Land market value
$235,160
Improvement market value
$369,760
Total market value
$604,920
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Stories
1
Units
3
Total area
8,208 SF
Lot
0.4 ac (17,424 SF)
Zoning code
BU2
APN
24-36-35-02-00000.0-0017.00
UPID
US18-5910597
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.4M
RETAIL STORES
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
RETAIL STORES
MEDICAL BUILDING
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
1964
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Units
3
Lot
0.4 ac
Current owner
From public records · entity-resolved
Mth Properties LLC
Entity
Free & Clear · 2 yrs held
Mailing address
545 E LUCAS PL, MERRITT ISLAND, FL 32953-6051
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 3, 2024
$900,000
Mth Properties LLC
Charla Belflower
Warranty Deed
—
Sep 20, 2012
—
Florida Statutes 689 017
Palm Island Trading LLC
Grant Deed
related
—
—
—
Land Trust Cb1
—
Deed Of Trust
related
$47,610 · Branch Banking & Trust Co
—
—
Land Trust Cb1
—
Deed Of Trust
related
$72,057 · Branch Banking & Trust Co
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 60 Merritt Is Cswy?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
