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Property profile & analytics
OFF-MARKET
Estimated value
$1,900,000
Commercial land
Merritt Island, FL 32952
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-0221901
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Year built
1949
Construction
WOOD FRAME
Total area
6,881 SF
Lot
6.35 ac (276,606 SF)
Zoning code
BU2
APN
25-37-06-CX-00000.0-0015.05
UPID
US18-0221901
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
$1.90M
CAP Approach
CAP
$1.23M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.90M
Owner & transaction history
Kj Walk INC · 1 yrs held
Kj Walk INC
since 2024
Last sale
$1.9M
7 recorded transactions
Zoning & alternative use
BU2 · Merritt Island, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.3M
+43.3%
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
$1,900,000
ML approach
$1,900,000
CAP Approach
CAP Return
Estimation
6%
$1,330,000
6.5%
$1,230,000
7%
$1,140,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,630,000
Current use
RESTAURANT
$2,340,000
Change: +43% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,435,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$1.90M
Range $1.71M – $2.09M · ±10% · vs last sale $1.90M (Jul 9 2024)
Last sale anchor
$1.90M
Jul 9 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
$276 / 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
$3,996
Tax year 2023
Assessed value
$320,040
Assessed 2023
Previous assessed
$320,040
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$320,040
Land market value
$320,040
Total market value
$320,040
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Year built
1949
Construction
WOOD FRAME
Heating
NONE
Cooling
YES
Stories
2
Total area
6,881 SF
Lot
6.35 ac (276,606 SF)
Zoning code
BU2
APN
25-37-06-CX-00000.0-0015.05
UPID
US18-0221901
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
COMMERCIAL (GENERAL) Current
Est. value
$1.6M
RESTAURANT
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$1.4M
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
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
1949
Construction
WOOD FRAME
Heating
NONE
Cooling
Yes
Stories
2
Lot
6.35 ac
Current owner
From public records · entity-resolved
Kj Walk INC
Entity
Free & Clear · 1 yrs held
Mailing address
2061 INDIAN RIV BLVD STE #100, VERO BEACH, FL 32960-7214
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 9, 2024
$1,900,000
Kj Walk INC
Marker 24 Development LLC
Warranty Deed
—
Dec 18, 2018
$100
Marker 24 Dev LLC
Marker 24 Dev LLC
Warranty Deed
related
—
Nov 20, 2015
—
Leah Marina Holdings LLC
—
Trustees Deed
related
$700,000 · Wells Fargo Bk
Oct 5, 2010
—
Rbc Bk USA
Banana River Village L Coc
Trustees Deed
related
—
Mar 12, 2007
—
Banana River Village LLC
Banana River Marine Svc INC
Quit Claim Deed
related
—
Mar 12, 2007
$8,500,000
Banana River Village LLC
Banana River Marine Svc INC
Warranty Deed
—
Jan 6, 2003
$278,000
Carla M Loggins
Baykal,jay C
Grant Deed
$222,400 · Thomas Louis Mortgage INC
May 10, 2001
$224,000
Jay C Baykal
El-hawary,hussein R & Gozail
Grant Deed
$180,992 · Bank Of America
—
—
Leah Marina Holdings LLC
—
Deed Of Trust
related
$300,000 · Wells Fargo Bk
—
—
Leah Marina Holdings LLC
—
Loan Modification
related
$738,400 · Branch Bk&tr
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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