For Sale
$1,175,000

1301 Washington AveTitusville, FL 32780

Florida Motel - 10 Keys, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a meticulously maintained 10-key motel in Titusville, Florida, boasting a strong 90% occupancy rate averaging $400 per week. Situated on a 0.26-acre lot at 1301 S Washington Ave, 32780, this property includes two buildings totaling 4,035 square feet, constructed in 1955 and zoned for Motor Inn use. The motel features eight themed guest rooms, a manager's apartment, an office, coin-operated laundry facilities, and housekeeper storage. A separate, single-family home on a contiguous parcel, currently rented for $2,000 per month, is also included. The property benefits from a brick paver parking lot (one space per unit), attractive landscaping, and patio seating. Additional income is generated from on-site laundry and vending machines, averaging $50-$75 weekly. The property enjoys a prime location near downtown Titusville, offering proximity to the river, SpaceX launch views, Playalinda Beach, and local amenities. The pro-forma NOI is $130,000, representing an 11.06% cap rate. The asking price is $1,175,000 ($117,500 per key and $291.20 per square foot). Seller financing is available for qualified buyers with a 30% down payment. This turnkey operation provides immediate income generation and significant potential for future growth.

Highlights

  • Meticulously maintained 10-key motel in Titusville, FL with 90% occupancy and $400 average weekly revenue.
  • Located on a 0.26-acre lot at 1301 S Washington Ave, Titusville, FL 32780, with two buildings totaling 4,035 square feet.
  • Includes eight themed guest rooms, manager's apartment, office, coin-operated laundry, and housekeeper storage; plus a separate single-family home rented for $2,000/month.
  • Features brick paver parking (one space per unit), landscaping, and patio seating; additional income from laundry and vending machines ($50-$75 weekly).
  • Prime location near downtown Titusville, offering proximity to the river, SpaceX, Playalinda Beach, and local amenities; $130,000 pro-forma NOI, 11.06% cap rate.
  • Asking price: $1,175,000 ($117,500 per key, $291.20/sq ft); seller financing available with 30% down.

Property Details for 1301 Washington Ave

Property type
Hospitality properties, Motels
Square Feet
4,035 SF
Year Built
1955
Buildings
2
Stories
1
Lot Size (sq. ft)
11,326 SF

Location Insight

City
Titusville
County
Brevard
State
Florida
Latitude
28.6005813
Longitude
-80.8072318
1301 Washington Ave, Titusville, Florida

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1301 Washington Ave
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