686 Cheney HwyTitusville, FL 32780

Property Details for 686 Cheney Hwy

Year built

1963

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

7.41 AC

Property size (Sq ft)

29,738 SF

Zone code

RC

Property type

Grocery and convenience stores

APN

22-35-22-25-00000.0-0001.04

APU

9223372036854775807

Description

This exceptional retail property, located at 686 Cheney Hwy in Titusville, Florida (zip code 32780), presents a unique investment opportunity. The 73,248 square foot plaza, built in 1963 and zoned RC, sits on a 7.41-acre lot and offers multiple tenancy options. Currently, there are 16,702 square feet of vacant space available, divisible into units ranging from 1,181 square feet to a maximum contiguous space of 13,030 square feet. The property boasts a prime location directly on busy Highway 50, benefiting from high visibility and significant traffic flow. Titusville is experiencing rapid commercial growth, particularly in the aerospace sector, with the establishment of new corporate headquarters and thousands of residential units currently under construction, creating a strong and expanding customer base. The plaza features a well-maintained exterior, including updated landscaping and a newly overlaid parking lot. Existing tenants provide a diverse mix of businesses, including grocery, medical, dental, health and beauty retail, cell phone providers, and a nail salon, creating a vibrant and attractive shopping environment. This is an ideal location for businesses seeking high visibility and access to a growing market. The property offers a rare chance to establish a presence in a thriving commercial area with excellent potential for long-term success.

• CAP approach

  CAP return

  Valuation

  6%

  $10,386,590

  6.5%

  $9,587,622

  7%

  $8,902,792

• Comparable approach

  Method

  Valuation

  Relative Method

  $12,869,372

  Geo Method

  $11,767,791

• Alternative Use

  Use

  Valuation

  Residential

  $8,087,518

  Hospitality

  $7,408,123

  Educational

  $6,163,471

  Medical

  $6,375,442

  Retail

  $9,587,622

Location Insight

City

Titusville

County

Brevard

State

Florida

Latitude

28.5587

Longitude

-80.8086

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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