407-718-3096
500 N Washington Ave, Titusville, FL for Sale
Medical - FOR SALE
1/20
null | Request Cap Rate

500 N Washington Ave
Titusville, FL 32796


HIGHLIGHTS

  • 500 N Washington Avenue boasts multiple points of entry along US Highway 1 and immediate proximity to Parrish Medical Center.
  • Value-add investment with immense potential through lease-up to meet market rates; market rents have grown by 3.4% YOY.
  • The subject property is a fractured medical office building (MOB) with an executive-style suite buildout.
  • Located in an Opportunity Zone and subject to state, local, and federal tax incentive and training programs.
  • 500 N Washington Avenue is surrounded by commercial retailers, including Dollar Tree, Publix, Harbor Freight Tools, Subway, McDonald's, and more.

OVERVIEW

The subject property is a fractured medical office building (MOB) with an executive-style suite buildout. The building is classified as Class C, multi-tenant, and was built in 1966/2008 with a gross building area (GBA) of 25,238 SF, though the fractured portfolio being auctioned includes only 19,574 SF of net rentable area (NRA). The property is located in Titusville, FL and is currently 16% leased, with a weighted average lease term (WALT) of 0.50 years and scheduled rent of $48,588. Located on Washington Avenue with 29,500 CPD, this site is located in a highly-sought after medical district located on Florida’s Space Coast. 500 N Washington sits within a mile from Eastern Florida State College campus which has a student/faculty population of 1,711 and its 1,200 employees.

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Titusville Medical Plaza | US Hwy 1

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1966

SPRINKLERS

-

PARKING SPACES

133

LAND DETAILS

LAND ACRES

2.31 AC

LAND SF

100,624 SF

ZONING

C

APN/PARCEL ID

21-35-33-00-00754.0-0000.00,21-35-33-00-00754.1-0000.00

ASK ABOUT THIS PROPERTY

Joe HillsHLI Partners LLCMore Info
407-718-3096

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Joe HillsHLI Partners LLCMore Info
407-718-3096

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.