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Property profile & analytics
OFF-MARKET
Estimated value
$5,385,000
Strip malls
950 Courtenay Pkwy Merritt Island, FL 32953-4513
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US19-0485319
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
41,942 SF
Lot
4.63 ac (201,683 SF)
APN
24-36-26-BX-00000.0-0035.02
UPID
US19-0485319
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
-
Smoking Lotus Smoke Shop (Bike/Boat/Book/etc) Store
-
Call Direct Partners Telecommunications Service Tech Support Center
-
Dr. Robert A. Matthews Dental Office
-
Pinch A Penny Pool Patio Spa (Bike/Boat/Book/etc) Store Hardware & Home Improvement
-
Joshua Flinn Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.68M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.26M
Blend (final)
Blend
$5.39M
Owner & transaction history
Ksa Florida Invest LLC · 4 yrs held
Ksa Florida Invest LLC
since 2021
Last sale
$5.2M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$8.7M
+51.4%
Office building
$7.4M
+28.6%
Retail stores
$6.7M
+16.8%
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
$5,555,000
ML approach
$5,680,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$5,775,000
Current use
AUTO REPAIR, GARAGE
$8,745,000
Change: +51% · Conversion: Difficult
OFFICE BUILDING
$7,425,000
Change: +29% · Conversion: Moderate
RETAIL STORES
$6,745,000
Change: +17% · Conversion: Easy
MEDICAL BUILDING
$6,510,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$5.39M
Range $4.85M – $5.92M · ±10% · vs last sale $5.15M (Dec 29 2021)
Last sale anchor
$5.15M
Dec 29 2021
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
$128 / 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
$69,538
Tax year 2023
Assessed value
$4,393,500
Assessed 2023
Previous assessed
$4,342,810
+1.2% YoY
Effective rate
1.58%
On assessed value
Assessed land
$1,008,460
Assessed improvement
$3,385,040
Land market value
$1,008,460
Improvement market value
$3,385,040
Total market value
$4,393,500
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
18
Total area
41,942 SF
Lot
4.63 ac (201,683 SF)
APN
24-36-26-BX-00000.0-0035.02
UPID
US19-0485319
Jurisdiction
BREVARD
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$5.8M
AUTO REPAIR, GARAGE
Est. value
$8.7M
OFFICE BUILDING
Est. value
$7.4M
RETAIL STORES
Est. value
$6.7M
MEDICAL BUILDING
Est. value
$6.5M
NEIGHBORHOOD: SHOPPING CENTER Current
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
1986
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
18
Lot
4.63 ac
Current owner
From public records · entity-resolved
Ksa Florida Invest LLC
Entity
Mailing address
6 JUPITER HLS DR, NEWPORT BEACH, CA 92660-9206
Ownership since
2021
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
Dec 29, 2021
$5,150,000
Ksa Florida Invest LLC
Ralph S Perrone SR.
Warranty Deed
$3,862,500 · City National Bank Of Florida
Aug 2, 2017
$550,000
Thinktank Media INC
Perrone Ralph S SR Trust
Warranty Deed
—
May 1, 2007
$3,250,000
Ralph S Perrone SR.
W S Badcock Corp
Warranty Deed
$2,600,000 · Paradise 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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