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Property profile & analytics
FOR LEASE
Turn key restaurants
777 E Merritt Island Cswy Merritt Island, FL 32952
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-4200684
For Lease
1 / 7
$570,000
777 E Merritt Island Cswy, Merritt Island, FL 32952
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Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1973
Construction
WOOD
Total area
8,963 SF
Lot
0.5 ac (21,780 SF)
Zoning code
BU-1
APN
24-36-36-00-00280.0-0000.00
UPID
US18-4200684
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
-
Macy's Clothing & Fashion Store
-
Western Heritage @ Merritt Square Mall Clothing Store
-
rue21 Clothing Store Fashion Accessories Store
-
I Dont give a Shirt! T-Shirt Store Custom T-Shirt Store
-
Spencer's (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$355k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$789k
Blend (final)
Blend
$570k
Owner & transaction history
Tf Merritt Island Fl LLC · 7 yrs held
Tf Merritt Island Fl LLC
since 2019
7 recorded transactions
Zoning & alternative use
BU-1 · 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
$355,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$570k
Range $513k – $627k · ±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
$64 / 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
$16,540
Tax year 2023
Assessed value
$1,242,290
Assessed 2023
Previous assessed
$1,083,970
+14.6% YoY
Effective rate
1.33%
On assessed value
Assessed land
$376,050
Assessed improvement
$866,240
Land market value
$376,050
Improvement market value
$866,240
Total market value
$1,242,290
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
Turn key restaurants
Use group
RESTAURANT
Status
For Lease
Year built
1973
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
8,963 SF
Lot
0.5 ac (21,780 SF)
Zoning code
BU-1
APN
24-36-36-00-00280.0-0000.00
UPID
US18-4200684
Jurisdiction
BREVARD
Zoning & alternative use
BU-1 · Merritt Island, FL
Zoning BU-1 · permitted uses
BU-1 · 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.
Building & site characteristics
From public records
Year built
1973
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
0.5 ac
Current owner
From public records · entity-resolved
Tf Merritt Island Fl LLC
Entity
Mailing address
150 GREAT NCK RD STE #304, GREAT NECK, NY 11021-3309
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 23, 2023
—
Tf Merritt Island Fl LLC
—
Deed
related
$460,000,000 · Ubs Ag Tampa Branch
Nov 30, 2021
—
Tf Merritt Island Fl LLC
—
Deed
related
$460,000,000 · Ubs Ag Tampa Branch
Feb 28, 2019
$9,000,000
Tf Merritt Island Fl LLC
Sears Roebuck & Co
Quitclaim Deed
related
$325,000,000 · Jpp LLC
Oct 10, 2018
—
Sears Roebuck & Co
—
Deed
related
$831,428,723 · Jpp LLC
Jun 7, 2018
—
Sears Roebuck & Co
—
Deed
related
$8,500,000 · Jpp LLC
Jan 9, 2017
—
Sears Roebuck & Co
—
Grant Deed
related
$5,639,294 · Private Individual
Jan 21, 2003
—
Bayview Malls LLC
—
Deed Of Trust
related
$3,378,800 · Wachovia Bank NA
Dec 23, 2002
$32,750,000
Bayview Malls LLC
John Hancock Life Insurance Co
Grant Deed
$20,170,000 · Wachovia Bank NA
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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