For Sale
$1,900,000

688 Park AveTitusville, FL 32796

63,000 SF Retail Center, Distressed Sale

Overview

Added:
Dec 11, 2024
Days on market:
114
This 63,000 square-foot shopping center in Titusville, Florida presents a compelling redevelopment opportunity. Located on a 5.4-acre lot at a prime hard corner location on a main traffic corridor (SR 405) with a four-way traffic signal, this property offers significant potential. Currently 100% occupied by the seller (who occupies approximately 24,000+ square feet), the seller may vacate or consider a leaseback arrangement. Built in 1963, the property is zoned for commercial use and is situated within the thriving North Brevard Economic Development Zone, benefiting from the area's robust aerospace industry growth fueled by major employers like SpaceX, Blue Origin, Boeing, and Lockheed Martin. The asking price is $1,900,000, translating to $30.16 per square foot. This distressed sale offers a unique chance to capitalize on the increasing demand for real estate in Titusville, a city known for its miles of beaches, average temperature of 73 degrees, and 2.5 million annual tourists. The absence of state personal and property income taxes further enhances the investment appeal. This property is a rare opportunity to invest in a rapidly growing area with a strong economic outlook. The remaining lease term is zero years.

Highlights

  • No state income tax or property tax.
  • High-traffic visibility at a four-way signal on SR 405.
  • Prime location near 72 miles of beaches, boasting an average temperature of 73°F and 2.5 million annual tourists.
  • Strong employment base anchored by Lockheed, Boeing, NASA, Blue Origin, SpaceX, Knight Armament, Parrish Medical Center, and Eastern Florida State College.
  • 5.4-acre site.

Property Details for 688 Park Ave

Property type
Lifestyle centers, Power centers
Square Feet
63,000 SF
Year Built
1963
Lot Size (sq. ft)
235,224 SF

Location Insight

City
Titusville
County
Brevard
State
Florida
Latitude
28.6087347
Longitude
-80.8199583
688 Park Ave, Titusville, Florida

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688 Park Ave
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