1301 Washington AveTitusville, FL 32780

Property Details for 1301 Washington Ave

Year built

1955

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.26 AC

Property size (Sq ft)

4,035 SF

Zone code

T

Property type

Hospitality properties

Property subtype

Motels

APN

22-35-10-25-00004.0-0001.00

APU

9223372036854775807

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,088,935

  6.5%

  $1,005,171

  7%

  $933,373

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,628,383

  Geo Method

  $1,488,998

• Alternative Use

  Use

  Valuation

  Residential

  $1,097,355

  Hospitality

  $1,005,171

  Educational

  $836,290

  Medical

  $865,052

  Retail

  $1,300,896

Location Insight

City

Titusville

County

Brevard

State

Florida

Latitude

28.6006

Longitude

-80.8074

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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