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Property profile & analytics
OFF-MARKET
Estimated value
$835,000
Retail space
91 Merritt Is Cswy Merritt Island, FL 32952-3632
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-4592237
Property summary
AI-generated overview
This completely updated 4,398 square foot single-tenant retail and office space is ideally situated on Merritt Island Causeway (SR 520), offering exceptional visibility and high traffic counts. The property boasts a prominent location anchored by a Publix supermarket, ensuring consistent foot traffic and brand recognition. The building features a total of 4,398 square feet, currently with 940 square feet vacant, spread across a single story on a 0.19-acre lot. The space is versatile, suitable for creative office, traditional office, or coworking uses. There are no elevators. The property's Assessed Parcel Number (APN) is 24-36-35-02-00000.0-0044.00. This is a unique opportunity to establish your business in a high-demand area with excellent accessibility and strong neighboring businesses. Flexible lease terms are available. Don't miss this chance to secure a prime location for your business's success. The property is ready for immediate occupancy. The building is a single suite.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,423 SF
Lot
0.19 ac (8,276 SF)
Zoning code
BU2
APN
24-36-35-02-00000.0-0044.00
UPID
US18-4592237
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
-
Barber 101 Barbershop Barber Shop
-
Cricket Wireless Authorized Retailer Mobile Phone Store Electronics & Wireless Store
-
Phone Medics Plus Computer & Electronic Repair Tech Support Center
-
Fountain of You Spa & Massage Center Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$835k
CAP Approach
CAP
$785k
Comparable Approach
Comparable
$754k
Blend (final)
Blend
$835k
Owner & transaction history
Nr Warehouse LLC · 2 yrs held
Nr Warehouse LLC
since 2024
Last sale
$835,000
3 recorded transactions
Zoning & alternative use
BU2 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+47.3%
Auto repair, garage
$920,000
+29.6%
Office building
$755,000
+6.0%
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
$835,000
ML approach
$835,000
CAP Approach
CAP Return
Estimation
6%
$850,000
6.5%
$785,000
7%
$730,000
Alternative Use
Use
Estimation
RETAIL STORES
$710,000
Current use
COMMERCIAL (GENERAL)
$1,050,000
Change: +47% · Conversion: Easy
AUTO REPAIR, GARAGE
$920,000
Change: +30% · Conversion: Difficult
OFFICE BUILDING
$755,000
Change: +6% · Conversion: Easy
MEDICAL BUILDING
$685,000
Change: -4% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$610,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$835k
Range $752k – $919k · ±10% · vs last sale $835k (May 8 2024)
Last sale anchor
$835k
May 8 2024
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
$189 / 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
$7,491
Tax year 2023
Assessed value
$486,340
Assessed 2023
Previous assessed
$486,340
+0.0% YoY
Effective rate
1.54%
On assessed value
Assessed land
$110,390
Assessed improvement
$375,950
Land market value
$110,390
Improvement market value
$375,950
Total market value
$486,340
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
4,423 SF
Lot
0.19 ac (8,276 SF)
Zoning code
BU2
APN
24-36-35-02-00000.0-0044.00
UPID
US18-4592237
Jurisdiction
BREVARD
Zoning & alternative use
BU2 · Merritt Island, FL
Zoning BU2 · permitted uses
BU2 · 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
RETAIL STORES Current
Est. value
$710,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$920,000
OFFICE BUILDING
Est. value
$755,000
MEDICAL BUILDING
Est. value
$685,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$610,000
RETAIL STORES Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1956
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
Nr Warehouse LLC
Entity
Free & Clear · 2 yrs held
Mailing address
7165 SW 47TH ST STE #320, MIAMI, FL 33155-4634
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 8, 2024
$835,000
Nr Warehouse LLC
Nivas LLC
Warranty Deed
—
May 26, 2015
—
Nivas LLC
Cook Regina B
Warranty Deed
—
May 26, 2015
$360,000
Nivas LLC
Diana Benson Isaac
Warranty Deed
—
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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