Edouard De Bernis Acquires Retail Property From Jose Castilla In Merritt Island For $1.6M

The retail property located at 75 East Merritt Island Causeway in Merritt Island was sold for $1,600,000. Spanning 5,419 square feet, the asset was transacted at a price per square foot of $295, yielding a capitalization rate of 6.45%.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $1,600,000
• Buyer: Edouard de Bernis
• Seller: Jose Castilla
• Broker: Jonathan De LaRosa - Marcus & Millichap
• Market: Merritt Island

Jonathan De LaRosa from Marcus & Millichap facilitated the transaction between the buyer, Edouard de Bernis, and the seller, Jose Castilla, for the retail property on Merritt Island. The deal was finalized on April 18, 2024, marking a significant transaction in the local market.