Neil Merin, Jordan Paul & Matthew Brown Acquire Retail Asset In Merritt Island For $16.05M
1450 North Courtenay Parkway
$16,050,000
$147/SF
Building Size
109,000 SF
Asset Type
Retail
Closing
Apr 16, 2026
AI
The property asset involved in the transaction is a retail space located at 1450 North Courtenay Parkway in Merritt Island. It was sold for a total price of $16,050,000, encompassing a significant area of 109,000 square feet, resulting in a price per square foot of $147.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $16,050,000
- Address: 1450 North Courtenay Parkway
- Market: Merritt Island
- Square Footage: 109,000
- Price Per Square Foot: $147
- Buyer: Neil Merin, Jordan Paul & Matthew Brown - MHCommercial Real Estate Fund II
In this transaction, the buyers are represented by Neil Merin, Jordan Paul, and Matthew Brown, who are associated with MHCommercial Real Estate Fund II, indicating their role in facilitating this retail property acquisition.
Players
Merritt Island Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93