603 N Washington Ave 15,600 SF 100% Leased Office Building Titusville, FL 32796 For Sale

Positioned in the heart of Titusville’s established medical corridor, MOB – 603 & 605 N Washington Ave offers investors a rare opportunity to acquire a fully leased, institutional-quality medical office asset in Florida’s dynamic Space Coast region. Built in 2001 and spanning 15,600 NRSF across two single-story buildings, the property is anchored by three synergistic healthcare providers: Florida Cardiovascular Association, Health First, and Dr. John Zambos. This tenant mix creates a robust referral ecosystem, ensuring consistent patient traffic and operational stability.
The asset boasts a weighted average lease term of 5.26 years under NNN leases, delivering predictable cash flow and minimal landlord responsibilities. Current NOI stands at $429,298, supported by annual rent escalations of 2%, positioning the property for long-term income growth. Florida Cardiovascular Association’s sale-leaseback structure underscores physician commitment and aligns interests for enduring occupancy.
Strategically located on US-1 with excellent visibility and signage, the property offers seamless connectivity to I-95 and major arterials, enhancing accessibility for patients across Brevard County. The surrounding Palm Bay–Melbourne–Titusville MSA is experiencing steady population growth and rising healthcare demand, driven by an aging demographic and expanding retiree base. With limited supply of quality medical office space, this asset represents a secure, recession-resistant investment in a high-barrier-to-entry market.