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1450 North Courtenay Parkway

Neil Merin, Jordan Paul & Matthew Brown Acquire Retail Asset In Merritt Island For $16.05M
SOLDRetail

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

John Crotty

Avison Young

Broker

$1.5B

vol

51 deals

Broker
Neil Merin

Neil Merin

MHCommercial Real Estate Fund II

Buyer

$16.1M

vol

2 deals

Buyer
MI
MHCommercial Real Estate Fund IIBuyer

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