2006 Washington AveTitusville, FL 32780

Property Details for 2006 Washington Ave

Year built

1963

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.31 AC

Property size (Sq ft)

6,704 SF

Zone code

T

Property type

Hospitality properties

Property subtype

Motels

APN

22-35-10-01-00000.0-0064.00

APU

9223372036854775807

Description

This exceptional investment opportunity presents a unique 0.31-acre commercial property located at 2006 Washington Avenue in Titusville, Florida, 32780. The property, a charming mid-century motor court, boasts 15 well-appointed rooms, including three full guest suites on the second floor. One suite features a private entrance and courtyard, and two rooms are designed for double occupancy. Significant recent improvements exceeding $60,000 have been made, encompassing a new metal roof, exterior paint, window replacements, tankless water heaters, a security camera system, an upgraded electrical panel, combination door locks, custom tropical-design railings and stairs, and new paver walkways and patios. The property also includes an on-site coin-operated laundry and a maid's storage room. An approximately 800-square-foot private apartment on the second floor offers a river view and features a full kitchen, living room, dining area, a spacious bedroom with an ensuite bathroom, and ample closet space. The property's prime location on US Highway 1 ensures high visibility and access to both local and tourist traffic. National brand shopping, restaurants, and a movie theater are within a half-mile radius, and numerous locally owned businesses are within one mile. The asking price for this remarkable property is $1,250,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,809,225

  6.5%

  $1,670,054

  7%

  $1,550,764

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,705,496

  Geo Method

  $2,473,914

• Alternative Use

  Use

  Valuation

  Residential

  $1,823,213

  Hospitality

  $1,670,054

  Educational

  $1,389,465

  Medical

  $1,437,251

  Retail

  $2,161,390

Location Insight

City

Titusville

County

Brevard

State

Florida

Latitude

28.5907

Longitude

-80.8033

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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