1015 Garden StTitusville, FL 32796

Property Details for 1015 Garden St

Year built

1966

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.46 AC

Property size (Sq ft)

8,077 SF

Zone code

M1

Property type

Strip malls

Property subtype

Neighborhood centers

APN

22-35-04-AU-00034.0-0008.00

APU

223504AU000340000800

Description

This exceptional 7,092 square foot shopping center, situated on a 0.46-acre lot at 1015 Garden Street in Titusville, Florida (zip code 32796), presents a compelling investment opportunity. Built in 1982 and renovated in 2017, this single-story building comprises four retail units, offering 7,000 square feet of net rentable space. Currently, three units are occupied by strong tenants, with one unit available for lease, presenting immediate value-add potential. The property benefits from its location on the highly trafficked Garden Street (Route 406), adjacent to downtown Titusville. Titusville's robust economic growth, fueled by the thriving space industry, creates a favorable market for this retail center. The property offers a 6.6% pro forma cap rate, with significant upside potential due to below-market rents, making it an excellent choice for investors seeking strong returns. This property is also well-suited for a 1031 exchange. The property includes four gas pumps.

• CAP approach

  CAP return

  Valuation

  6%

  $2,821,054

  6.5%

  $2,604,050

  7%

  $2,418,046

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,495,390

  Geo Method

  $3,196,195

• Alternative Use

  Use

  Valuation

  Residential

  $2,196,613

  Hospitality

  $2,012,086

  Educational

  $1,674,032

  Medical

  $1,731,604

  Retail

  $2,604,050

Location Insight

City

Titusville

County

Brevard

State

Florida

Latitude

28.6152

Longitude

-80.8153

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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