2560 Washington AveTitusville, FL 32780

Property Details for 2560 Washington Ave

Year built

2022

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.05 AC

Property size (Sq ft)

6,150 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

22-35-15-02-00000.0-0005.01

APU

9223372036854775807

Description

This exceptional investment opportunity presents a fee-simple ownership of a 6,150-square-foot retail property in Titusville, Florida. Located at 2560 S Washington Ave, this Class A, single-story building sits on a 1.05-acre lot and boasts 51 parking spaces. Currently 100% occupied by two credit-rated tenants, Chipotle and Sage Dental, under a triple-net (NNN) lease structure with a remaining term of 9 years. The lease includes a 10% rent increase every five years, ensuring consistent income growth. Chipotle's presence, including a Chipotlane drive-thru, and Sage Dental's established reputation contribute to the property's strong financial performance. The property's NOI is $252,638, resulting in a 4.91% cap rate. Built in 2022, the property benefits from its strategic location within the Titus Landing Lifestyle Center, a significant retail development anchored by major brands. The property is zoned UV - Urban Village, and its location on the Space Coast, near Kennedy Space Center and Orlando, provides access to a thriving tourism and aerospace industry. This core investment offers a compelling combination of strong tenants, a desirable location, and significant upside potential. The asking price is $5,150,000, translating to $837.40 per square foot.

• CAP approach

  CAP return

  Valuation

  6%

  $2,148,010

  6.5%

  $1,982,779

  7%

  $1,841,152

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,661,465

  Geo Method

  $2,433,651

• Alternative Use

  Use

  Valuation

  Residential

  $1,672,548

  Hospitality

  $1,532,045

  Educational

  $1,274,644

  Medical

  $1,318,480

  Retail

  $1,982,779

Location Insight

City

Titusville

County

Brevard

State

Florida

Latitude

28.5846

Longitude

-80.8021

CBSA code

37340

CBSA name

PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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