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Titusville Medical Plaza | US Hwy 1 500 N Washington Ave 25,243 SF 48% Leased Office Building Titusville, FL 32796 For Sale
INVESTMENT HIGHLIGHTS
- 500 N Washington Avenue boasts multiple points of entry along US Highway 1 and immediate proximity to Parrish Medical Center.
- The subject property is a fractured medical office building (MOB) with an executive-style suite buildout.
- 500 N Washington Avenue is surrounded by commercial retailers, including Dollar Tree, Publix, Harbor Freight Tools, Subway, McDonald's, and more.
- Value-add investment with immense potential through lease-up to meet market rates; market rents have grown by 3.4% YOY.
- Located in an Opportunity Zone and subject to state, local, and federal tax incentive and training programs.
EXECUTIVE SUMMARY
The subject property is a fractured medical office building (MOB) with an executive-style suite buildout. The building is classified as Class C, multi-tenant, and was built in 1966/2008 with a gross building area (GBA) of 25,238 SF, though the fractured portfolio being auctioned includes only 19,574 SF of net rentable area (NRA). The property is located in Titusville, FL and is currently 16% leased, with a weighted average lease term (WALT) of 0.50 years and scheduled rent of $48,588.
Located on Washington Avenue with 29,500 CPD, this site is located in a highly-sought after medical district located on Florida’s Space Coast. 500 N Washington sits within a mile from Eastern Florida State College campus which has a student/faculty population of 1,711 and its 1,200 employees.
Located on Washington Avenue with 29,500 CPD, this site is located in a highly-sought after medical district located on Florida’s Space Coast. 500 N Washington sits within a mile from Eastern Florida State College campus which has a student/faculty population of 1,711 and its 1,200 employees.
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Miscellaneous
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
25,243 SF
Building Class
C
Year Built/Renovated
1966/2008
Percent Leased
48%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
12,622 SF
Building FAR
0.25
Lot Size
2.31 AC
Opportunity Zone
Yes
Zoning
C - general commercial
Parking
133 Spaces (5.27 Spaces per 1,000 SF Leased)
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
- 1st Fl-Ste 102
- 1,043 SF
- Office/Medical
- Full Build-Out
- Now
- 1st Fl-Ste 103
- 1,043 SF
- Office/Medical
- Full Build-Out
- Now
- 1st Fl-Ste 104
- 3,799 SF
- Office/Medical
- Full Build-Out
- Now
- 2nd Fl-Ste 201
- 1,043 SF
- Office/Medical
- Full Build-Out
- Now
- 2nd Fl-Ste 202
- 1,450 SF
- Office/Medical
- Full Build-Out
- Now
- 2nd Fl-Ste 204
- 1,439 SF
- Office/Medical
- Full Build-Out
- Now
- 2nd Fl-Ste 205
- 1,149 SF
- Office/Medical
- Full Build-Out
- Now
- 2nd Fl-Ste 207
- 996 SF
- Office/Medical
- -
- Now
- 2nd Fl-Ste 208
- 1,049 SF
- Office/Medical
- Full Build-Out
- Now
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 102 | 1,043 SF | Office/Medical | Full Build-Out | Now |
| 1st Fl-Ste 103 | 1,043 SF | Office/Medical | Full Build-Out | Now |
| 1st Fl-Ste 104 | 3,799 SF | Office/Medical | Full Build-Out | Now |
| 2nd Fl-Ste 201 | 1,043 SF | Office/Medical | Full Build-Out | Now |
| 2nd Fl-Ste 202 | 1,450 SF | Office/Medical | Full Build-Out | Now |
| 2nd Fl-Ste 204 | 1,439 SF | Office/Medical | Full Build-Out | Now |
| 2nd Fl-Ste 205 | 1,149 SF | Office/Medical | Full Build-Out | Now |
| 2nd Fl-Ste 207 | 996 SF | Office/Medical | - | Now |
| 2nd Fl-Ste 208 | 1,049 SF | Office/Medical | Full Build-Out | Now |
1st Fl-Ste 102
| Size |
| 1,043 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
1st Fl-Ste 103
| Size |
| 1,043 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
1st Fl-Ste 104
| Size |
| 3,799 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 201
| Size |
| 1,043 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 202
| Size |
| 1,450 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 204
| Size |
| 1,439 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 205
| Size |
| 1,149 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 207
| Size |
| 996 SF |
| Space Use |
| Office/Medical |
| Condition |
| - |
| Available |
| Now |
2nd Fl-Ste 208
| Size |
| 1,049 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
1 1
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $0 CAD | Total Assessment | $1,387,333 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,387,333 CAD
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Titusville Medical Plaza | US Hwy 1 | 500 N Washington Ave
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