450 E. Merritt Island Causeway | 450 E Merritt Island Cswy
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450 E. Merritt Island Causeway 450 E Merritt Island Cswy
30,167 SF 85% Leased Office Building Merritt Island, FL 32952 $12,800,000 ($424/SF) 6.47% Cap Rate
Executive Summary
Completely renovated in 2018 and 2022 this former Circuit City features 30,097 RSF of medical office
including 11,237 SF of the fully licensed AHCA surgery center. The property has great
marketing visibility with an oversized Large LED 200 x 600 along Merritt Island Causeway
for tenants to advertise their company and additional marketing exposure is provided by
allowing tenants to place lighted fascia signs on the building. Current tenants include
Merritt Island Outpatient Surgery Center, Florida Pain Relief Group (both subsidiaries of
Physician Partners of America), and Clevens Face and Body Specialists. The site features
excellent ingress and egress and surplus parking.
including 11,237 SF of the fully licensed AHCA surgery center. The property has great
marketing visibility with an oversized Large LED 200 x 600 along Merritt Island Causeway
for tenants to advertise their company and additional marketing exposure is provided by
allowing tenants to place lighted fascia signs on the building. Current tenants include
Merritt Island Outpatient Surgery Center, Florida Pain Relief Group (both subsidiaries of
Physician Partners of America), and Clevens Face and Body Specialists. The site features
excellent ingress and egress and surplus parking.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
30,167 SF
Building Class
A
Year Built/Renovated
2000/2022
Price
$12,800,000
Price Per SF
$424
Cap Rate
6.47%
NOI
$828,000
Percent Leased
85%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
30,167 SF
Slab To Slab
15’
Building FAR
0.23
Lot Size
2.99 AC
Zoning
BU2 - Medical Office/Clinic
Parking
250 Spaces (8.41 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Line
- Controlled Access
- Security System
- Kitchen
- High Ceilings
- Drop Ceiling
- Wi-Fi
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Fully built out medical office space - take a virtual tour now by clicking link https://my.matterport.com/show/?m=1EknV1qoa1Y
- 1st Fl-Ste 700
- 1,657 SF
- Office
- Full Build-Out
- Now
Future MRI
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 500 | 2,122 SF | Office/Medical | Full Build-Out | Now |
| 1st Fl-Ste 700 | 1,657 SF | Office | Full Build-Out | Now |
| 1st Fl-Ste 800 | 780 SF | Office/Medical | - | Now |
1st Fl-Ste 500
| Size |
| 2,122 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
1st Fl-Ste 700
| Size |
| 1,657 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
1st Fl-Ste 800
| Size |
| 780 SF |
| Space Use |
| Office/Medical |
| Condition |
| - |
| Available |
| Now |
1 of 9
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1st Fl-Ste 500
| Size | 2,122 SF |
| Space Use | Office/Medical |
| Condition | Full Build-Out |
| Available | Now |
Fully built out medical office space - take a virtual tour now by clicking link https://my.matterport.com/show/?m=1EknV1qoa1Y
1st Fl-Ste 800
| Size | 780 SF |
| Space Use | Office/Medical |
| Condition | - |
| Available | Now |
Future MRI
PROPERTY TAXES
| Parcel Number | 24-36-36-25-00000.0-0003.00 | Improvements Assessment | $2,850,210 |
| Land Assessment | $1,350,440 | Total Assessment | $4,200,650 |
PROPERTY TAXES
Parcel Number
24-36-36-25-00000.0-0003.00
Land Assessment
$1,350,440
Improvements Assessment
$2,850,210
Total Assessment
$4,200,650
1 of 34
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
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450 E. Merritt Island Causeway | 450 E Merritt Island Cswy
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