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INVESTMENT OVERVIEW
Merritt Island Commercial Center is comprised of 24,840 NRSF across 100 Non-Climate units. The facility is on 1.68 acres just north of the West Merritt Island Causeway, averaging 44,890 vehicles per day. The facility currently boasts a stabilized 93% physical occupancy and an 94.59% economic occupancy. Merritt Island Commercial Center has an adjusted NOI of $137,048 and a forecasted Year 1 NOI of $154,752.
The facility has been well maintained by current ownership, offering an opportunity to its next owner with minimal capex improvements needed. The facility currently lacks an online presence, giving new ownership the opportunity to implement a website and online payment options to its current and future tenants.
INVESTMENT HIGHLIGHTS
FACILITY SUMMARY
| Property Name: | Merritt Island Commercial Center |
| Address: | 330 Myrtice Ave, Merritt Island, FL 32953 |
| County: | Brevard County |
| Land Size: | 1.68 Acres |
| Total NRSF: | 24,840 NRSF |
| Total Units: | 100 Units |
| Physical Occupancy: | 93.00% |
| Economic Occupancy: | 94.59% |
| Building Count: | 2 Buildings |
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111 2nd Ave NE, Suite 1006
St. Petersburg, FL 33701
727.219.9051
FL License #CQ1059487