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Property profile & analytics
OFF-MARKET Estimated value $43,675,000
Super regional malls

777 Merritt Is Cswy Ste K3 Merritt Island, FL 32952-3501

558,559 SF 55.06 ac lot Built 1970
Entity Owned 23-yr Hold Absentee Owner ~ Est. High Equity
Property ID
US18-6019855
Property summary
AI-generated overview

Merritt Square Mall presents a unique opportunity for retailers seeking high-traffic locations in Brevard County, Florida. This enclosed shopping mall boasts 811,277 square feet of total space, with 192,501 square feet currently vacant and available for lease. Units range from a minimum of 565 square feet to a maximum contiguous space of 120,000 square feet, offering flexibility for businesses of various sizes. The mall enjoys a highly desirable location on State Road 520, just three miles from I-95, providing excellent accessibility and visibility. Its proximity to Port Canaveral, one of the busiest cruise ports, further enhances its appeal, with daily shuttles connecting the mall to the port. The mall benefits from a substantial traffic count of 33,500 vehicles per day and attracts an impressive 1.6 million annual visitors. Strong anchor tenants include Cobb Theatres, Dillard's, JCPenney, Macy's, and Ollie's Bargain Outlet, creating a robust and established retail environment. A pad site is also available for lease. This is an exceptional opportunity to establish or expand your business within a thriving retail center. Thirty-six spaces are currently available. Contact us today to learn more about leasing options.

Property profile
Verified
Property type Super regional malls
Use group REGIONAL SHOPPING CENTER, MALL
Year built 1970
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 558,559 SF
Lot 55.06 ac (2,398,414 SF)
Zoning code BU-1
APN 24-36-36-00-00253.1-0000.00
UPID US18-6019855
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! Custom T-Shirt Store Embroidery Shop
  • Spencer's (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$42.55M
Blend (final) Blend
$43.68M
Owner & transaction history
Bayview Malls LLC · 23 yrs held
Bayview Malls LLC
since 2002
2 recorded transactions
2002
$32.8M
1969
Price N/A
Zoning & alternative use
BU-1 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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