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Property profile & analytics
OFF-MARKET Estimated value $1,760,000
Strip malls

685 Courtenay Pkwy Merritt Island, FL 32953-4753

18,459 SF 1.32 ac lot Built 1966
Entity Owned Absentee Owner Free & Clear
Property ID
US18-6036723
Property summary
AI-generated overview

This exceptional 8,356-square-foot retail showroom is available for lease at 685 N Courtenay Pkwy, Merritt Island, FL 32953. Located on a major traffic corridor (N. Courtenay Pkwy/State Road 3) in Brevard County, this single-story, 1966-built property offers unparalleled visibility and accessibility. The entire space is available, providing ample room for a variety of uses, including dance studios, fitness centers, martial arts studios, or other retail businesses. The 1.32-acre lot provides extensive parking for customers and employees. The property benefits from ongoing improvements to N. Courtenay Parkway, including upgraded landscaping, sidewalks, and lighting, enhancing curb appeal and creating a welcoming atmosphere. Its strategic location near major shopping centers, retail outlets, offices, entertainment venues, and residential areas ensures a steady flow of potential customers. The property's proximity to Kennedy Space Center, Cocoa Beach, Port Canaveral, and Orlando provides convenient access for both local and tourist clientele. This prime location also boasts nearby amenities such as a church and bowling alley. The property features a total of 16,668 total building suites.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1966
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 18,459 SF
Lot 1.32 ac (57,499 SF)
Zoning code BU1
APN 24-36-26-58-00000.0-000A.03
UPID US18-6036723
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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.92M
Blend (final) Blend
$1.76M
Owner & transaction history
MEADOWS INC
MEADOWS INC
Zoning & alternative use
BU1 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building $2.9M +12.7%
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