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Property profile & analytics
OFF-MARKET
Estimated value
$3,890,000
Warehouses
900 Banana Riv Dr 1 Merritt Island, FL 32952-5792
Entity Owned
5-yr Hold
Free & Clear
Property ID
US18-6085715
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
18,248 SF
Lot
4.14 ac (180,338 SF)
Zoning code
BU-2
APN
24-37-30-00-00250.0-0000.00
UPID
US18-6085715
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
$3.90M
CAP Approach
CAP
$2.85M
Comparable Approach
Comparable
$3.86M
Blend (final)
Blend
$3.89M
Owner & transaction history
Cubesmart LP · 5 yrs held
Cubesmart LP
since 2020
Last sale
$3.9M
4 recorded transactions
Zoning & alternative use
BU-2 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.2M
+171.3%
Commercial (general)
$4.3M
+89.3%
Auto repair, garage
$3.8M
+66.5%
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
$4,060,000
ML approach
$3,900,000
CAP Approach
CAP Return
Estimation
6%
$3,090,000
6.5%
$2,850,000
7%
$2,645,000
Alternative Use
Use
Estimation
RESTAURANT
$6,200,000
Change: +171% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,325,000
Change: +89% · Conversion: Difficult
AUTO REPAIR, GARAGE
$3,805,000
Change: +66% · Conversion: Easy
OFFICE BUILDING
$3,110,000
Change: +36% · Conversion: Difficult
RETAIL STORES
$2,935,000
Change: +28% · Conversion: Moderate
MEDICAL BUILDING
$2,830,000
Change: +24% · Conversion: Difficult
Blend value · Realmo final
$3.89M
Range $3.50M – $4.28M · ±10% · vs last sale $3.90M (Nov 12 2020)
Last sale anchor
$3.90M
Nov 12 2020
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
$213 / 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
$41,508
Tax year 2023
Assessed value
$2,997,400
Assessed 2023
Previous assessed
$2,984,230
+0.4% YoY
Effective rate
1.38%
On assessed value
Assessed land
$541,010
Assessed improvement
$2,456,390
Land market value
$541,010
Improvement market value
$2,456,390
Total market value
$2,997,400
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Buildings
2
Stories
1
Units
135
Total area
18,248 SF
Lot
4.14 ac (180,338 SF)
Zoning code
BU-2
APN
24-37-30-00-00250.0-0000.00
UPID
US18-6085715
Jurisdiction
BREVARD
Zoning & alternative use
BU-2 · Merritt Island, FL
Zoning BU-2 · permitted uses
BU-2 · 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
RESTAURANT
Est. value
$6.2M
COMMERCIAL (GENERAL)
Est. value
$4.3M
AUTO REPAIR, GARAGE
Est. value
$3.8M
OFFICE BUILDING
Est. value
$3.1M
RETAIL STORES
Est. value
$2.9M
MEDICAL BUILDING
Est. value
$2.8M
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2001
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Units
135
Lot
4.14 ac
Current owner
From public records · entity-resolved
Cubesmart LP
Entity
Free & Clear · 5 yrs held
Mailing address
PO BOX 320099, ALEXANDRIA, VA 22320-4099
Ownership since
2020
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
Nov 12, 2020
$3,900,000
Cubesmart LP
Banana River Storage INC
Warranty Deed
—
May 30, 2001
$120,800
Banana River Storage INC
Jason,arnold S & Patricia A
Quit Claim Deed
related
$600,000 · Admiralty Bank
Nov 3, 1999
$93,000
Arnold S Jason
Realino Trust
Grant Deed
—
—
—
Banana River Storage INC
—
Deed Of Trust
related
$150,000 · Regions Bank
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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