This exceptional investment opportunity encompasses a 1.29-acre commercial parcel in Merritt Island, Florida, featuring a two-story, 12,495-square-foot freestanding office building and ten additional storage units totaling 2,457 square feet on a separate parcel. The property, situated at the northwest corner of N. Courtenay Parkway and Butler Avenue, boasts a prime location with high visibility on a major commercial thoroughfare experiencing over 30,500 AADT. The main office building, constructed in 1987 and renovated in 2024, offers multiple entrances, balconies, open porches, and a split floor plan, along with approximately 49 parking spaces. Recent improvements include the replacement of all air conditioners and most lighting fixtures with energy-efficient LEDs. The ten storage units, located on a separate 0.32-acre parcel, present additional income potential or redevelopment possibilities. The property's zoning permits a variety of uses, including retail, professional, and personal services, with a maximum building height of 45 feet and a floor area ratio of 1.0. The existing building is currently partially occupied by tenants on short-term leases, providing immediate cash flow while allowing for future redevelopment plans. This versatile property offers multiple development options, from renovating the existing structures to complete demolition and construction of a new mixed-use or retail development. The property's proximity to Cape Canaveral, Kennedy Space Center, and NASA, coupled with the thriving space and cruise industries, presents a compelling investment opportunity in a dynamic market. Potential buyers are responsible for verifying all permits, approvals, regulations, and other relevant factors before closing.
Highlights
1.29-acre commercial parcel with a 12,495 SF two-story office building and ten 2,457 SF storage units on a separate 0.32-acre parcel.
Recently renovated (2024) office building features multiple entrances, balconies, open porches, a split floor plan, and approximately 49 parking spaces. All air conditioners replaced, most lighting upgraded to energy-efficient LEDs.
Ten storage units offer additional income potential or redevelopment options.
Building can be owner-occupied, with the remaining space leased for additional income. Currently partially occupied with short-term leases.
High visibility location on N. Courtenay Parkway, near Cape Canaveral, Kennedy Space Center, and NASA.
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2235 Courtenay Pkwy, Merritt Island, Florida, 32953
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