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Property profile & analytics
OFF-MARKET
Grocery and convenience stores

850 Courtenay Pkwy Merritt Island, FL 32953-4659

1,680 SF 0.52 ac lot Built 1964
Entity Owned 6-yr Hold Free & Clear
Property ID
US18-1958537
Property summary
AI-generated overview

This exceptional 0.5+ acre corner lot, located at 850 N Courtenay Parkway in Merritt Island, Florida (zip code 32953), presents a unique redevelopment opportunity. Zoned BU-1, this property boasts approximately 150 feet of frontage on N Courtenay Parkway, a high-traffic area with an impressive 28,000 AADT (Average Annual Daily Traffic) per FDOT data. Previously occupied by a fuel station, the existing fuel tanks and canopy have been removed, leaving a clean slate for a wide range of commercial ventures. The property's central Merritt Island location offers excellent visibility and accessibility. Built in 1964, this single-unit retail site is ready for its next chapter. The expansive lot size provides ample space for new construction or significant expansion. For investors seeking a flexible option, a ground lease is also available. This is an unparalleled chance to capitalize on a highly desirable location and create a thriving commercial enterprise. The property is situated in Brevard County and offers significant potential for a variety of commercial uses given its size and location. Serious inquiries are encouraged.

Property profile
Verified
Property type Grocery and convenience stores
Use group CONVENIENCE STORE (W/FUEL PUMP)
Year built 1964
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 1,680 SF
Lot 0.52 ac (22,651 SF)
Zoning code BU-1
APN 24-36-26-02-0000A.1-0000.00
UPID US18-1958537
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
  • Auto Depot Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
West Of The Tower LLC · 6 yrs held
West Of The Tower LLC
since 2019
7 recorded transactions
2019
$100
2018
Price N/A
2016
$475,000
2015
$400,000
2006
$532,000
1969
Price N/A
1969
Price N/A
Zoning & alternative use
BU-1 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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