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Property profile & analytics
OFF-MARKET
Estimated value
$700,000
Office buildings
915 Courtenay Pkwy Merritt Island, FL 32953-4530
Entity Owned
2-yr Hold
Free & Clear
Property ID
US18-0883464
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,920 SF
Lot
0.33 ac (14,375 SF)
Zoning code
BU1
APN
24-36-26-BX-00000.0-0044.02
UPID
US18-0883464
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
-
Quest Hospital
-
Perrone Place Real Estate Agency
-
Realtor Ivars Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$700k
CAP Approach
CAP
$650k
Comparable Approach
Comparable
$734k
Blend (final)
Blend
$700k
Owner & transaction history
Srisairam LLC · 2 yrs held
Srisairam LLC
since 2024
Last sale
$700,000
7 recorded transactions
Zoning & alternative use
BU1 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$690,000
+33.9%
Auto repair, garage
$610,000
+17.8%
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
$700,000
ML approach
$700,000
CAP Approach
CAP Return
Estimation
6%
$705,000
6.5%
$650,000
7%
$605,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$515,000
Current use
COMMERCIAL (GENERAL)
$690,000
Change: +34% · Conversion: Easy
AUTO REPAIR, GARAGE
$610,000
Change: +18% · Conversion: Difficult
RETAIL STORES
$470,000
Change: -9% · Conversion: Moderate
MEDICAL BUILDING
$455,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$700k
Range $630k – $770k · ±10% · vs last sale $700k (Feb 23 2024)
Last sale anchor
$700k
Feb 23 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
$240 / 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
$7,204
Tax year 2023
Assessed value
$436,190
Assessed 2023
Previous assessed
$436,190
+0.0% YoY
Effective rate
1.65%
On assessed value
Assessed land
$130,500
Assessed improvement
$305,690
Land market value
$130,500
Improvement market value
$305,690
Total market value
$436,190
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
2,920 SF
Lot
0.33 ac (14,375 SF)
Zoning code
BU1
APN
24-36-26-BX-00000.0-0044.02
UPID
US18-0883464
Jurisdiction
BREVARD
Zoning & alternative use
BU1 · Merritt Island, FL
Zoning BU1 · permitted uses
BU1 · 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
OFFICE BUILDING Current
Est. value
$515,000
COMMERCIAL (GENERAL)
Est. value
$690,000
AUTO REPAIR, GARAGE
Est. value
$610,000
RETAIL STORES
Est. value
$470,000
MEDICAL BUILDING
Est. value
$455,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
Srisairam LLC
Entity
Free & Clear · 2 yrs held
Mailing address
2942 BELLWIND CIR, ROCKLEDGE, FL 32955-5141
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 23, 2024
$700,000
Srisairam LLC
Jay & Jen Investment LLC
Warranty Deed
—
Nov 4, 2019
$495,000
Jay & Jen Investment LLC
Ralph S Perrone SR.
Warranty Deed
$356,250 · Marine Bank & Trust Company
Jul 8, 2019
—
Ralph S Perrone SR
—
Deed
related
$2,650,000 · Marine Bk
Mar 8, 2019
—
Ralph S Perrone SR
—
Deed
related
—
Jun 13, 2017
—
Ralph S Perrone SR
—
Deed
related
$1,098,267 · Fidelity Bk/fl
Oct 23, 2000
$235,000
Perrone,ralph S & Cynthia
Blasky,michael
Trustees Deed
—
Oct 23, 2000
—
Ralph S Perrone
Blasky,michael
Quit Claim Deed
related
$120,000 · Admiralty Bank
—
—
Ralph S Perrone SR
—
Loan Modification
related
—
—
—
Ralph S Perrone SR
—
Loan Modification
related
$2,650,000 · Marine Bk
—
—
Ralph S Perrone SR
—
Loan Modification
related
$1,098,267 · Fidelity Bk/fl
—
—
Ralph S Perrone SR.
—
Deed Of Trust
related
$315,000 · Sunrise 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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