Merritt Island, FL
Commercial Real Estate Market Trends & Data

$198 Avg asking sale price
$28 Avg asking lease rate
3,835 SF Avg unit lease size
18,184 SF Avg building size for sale
8.27% Average cap rate

Merritt Island's Demographic Profile

Merritt Island has 15,927 households and a median income of $78,440, providing context for rent absorption and tenant demand across retail and multifamily assets. A +7% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 36,513
# Households 15,927
Median age 51
Median household income $78,440
Avg household size 2.0
Renter-occupied housing units 4,231
5-year population change +7%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Merritt Island, FL

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Cocoa Beach $352 3,098 SF 11.25%
Cape Canaveral $276 3,823 SF 11.25%
Port Canaveral $276 3,823 SF 11.25%
Nearby Retail Markets Avg Cost/SF Typical Size
Merritt Island $160 20,326 SF
Cocoa Beach $400 19,488 SF
Viera $307 10,267 SF
Rockledge $269 7,887 SF
Patrick Afb $1,252 2,603 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Cape Canaveral $326 21,511 SF 7.15%
Port Canaveral $326 21,511 SF 7.15%
Rockledge $150 10,818 SF 6.66%
Cocoa $150 10,818 SF 6.66%

Commercial Properties For Sale in Merritt Island

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

9 Orange Ave

Rockledge, FL 32955

  • 5,272 SF Office Building
  • $495,000
For Sale

E Merritt Ave & Palmetto ave

Merritt Island, FL 32953

  • 3.50 AC Lot
  • 1 Commercial Lot
  • $1,225,000
For Sale

Fortenberry Professional Building

Merritt Island, FL 32952

  • 16,000 SF Office Building
  • $1,160,000
For Sale

Town Square

Merritt Island, FL 32953

  • 32,273 SF Office Building
  • $5,300,000
For Sale

Downtown Cocoa Retail

Cocoa, FL 32922

  • 16,976 SF Retail Building
  • 8.27% Cap Rate
  • $2,800,000
For Sale

645 S Courtenay Pkwy

Merritt Island, FL 32952

  • 1.86 AC Lot
  • 1 Commercial Lot
  • $725,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Merritt Island pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Merritt Island $198 18,184 SF
Cocoa Beach $352 29,140 SF
Viera $457 5,599 SF
Cape Canaveral $242 32,910 SF
Port Canaveral $337 32,910 SF

Regional Demographic Comparison

This comparison places Merritt Island alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Merritt Island or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Merritt Island 36,513 15,927 51 $78,440 2 4,231 7%
Cocoa Beach 15,978 8,734 62 $79,892 2 2,318 15%
Viera 10,758 4,660 51 $88,512 2 983 5%
Cape Canaveral 14,100 8,180 61 $64,084 2 3,631 14%
Port Canaveral 13,952 8,105 61 $63,907 2 3,622 14%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Merritt Island, FL and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Merritt Island

View All Commercial Real Estate For Sale in Merritt Island
Is Merritt Island a good market for a first-time commercial real estate investor?

Merritt Island offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Merritt Island?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Merritt Island. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Merritt Island?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Merritt Island. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Merritt Island compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Merritt Island. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Merritt Island acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Merritt Island, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

Nearby Market Trends