Retail Building with Major Highway
For Sale
$1,950,000
2300 S WASHINGTON Avenue, Titusville, FL 32780
SINGLE_FAMILY - TITUSVILLE, FL
Property Size10,730 SF
Lot Size0.90 Acres
Price / SF$181.73
Days on Market1085
Property Features for 2300 S WASHINGTON Avenue
General Information
Property type
Residential
Property subtype
Retail
Zoning
CC
Subdivision
BOUGAINVILLEA RESUB
Directions
Titusville to Washington Ave 2300 S Washington
Standard status
Active
APN
22-35-10-51-00002.0-0001.00
Size
10,730 SF
Lot size
0.90 Acres
Taxes and HOA fees
Tax Year
2022
Tax Description
BOUGAINVILLEA, RESUBD OF LOTS 1 & 2 BLK 2
Tax Annual Amount
10289
Legal Description
BOUGAINVILLEA, RESUBD OF LOTS 1 & 2 BLK 2
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1959
Floors in Building
1
Flooring type
Concrete
Building materials
Block, Frame
Roof type
Membrane, Shingle
Listing Agency:
LPT REALTY
(877) 366-2213
Listed By:
Michelle Ingrassia · License #3231559
(407) 756-9164
Added: Aug 18, 2023
Changed: Aug 4
Last Checked: Aug 6 at 3:06PM
MLS# O6134863
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This retail building on a 0.9-acre site offers a total of 10,730 square feet and can be positioned to suit an owner-user or redevelopment strategy. The structure is built with block and frame construction, with concrete flooring throughout. Central heating and central air are in place, and the roof system includes shingle and membrane materials. Phone service is listed as available, and utilities include public water and public sewer. The property was built in 1959.
The building sits directly on US Hwy 1 frontage and is described as being one block from the New Titus Landing, a retail center with multiple anchor front stores including Hobby Lobby, Chipotle, Fire House Subs, Tuesday Morning, Bealls, and Epic Theatres. The surrounding area is also described as having new upscale apartments to the north, with access to Downtown Titusville and the Space Coast.
Zoning for the property is CC.
The building sits directly on US Hwy 1 frontage and is described as being one block from the New Titus Landing, a retail center with multiple anchor front stores including Hobby Lobby, Chipotle, Fire House Subs, Tuesday Morning, Bealls, and Epic Theatres. The surrounding area is also described as having new upscale apartments to the north, with access to Downtown Titusville and the Space Coast.
Zoning for the property is CC.
Key Highlights
- 0.9‑acre lot with 10,730 sq ft retail building
- Direct US Hwy 1 frontage
- One block from New Titus Landing with Hobby Lobby, Chipotle, Fire House Subs, Tuesday Morning, Bealls, and Epic Theatres
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$123,706
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,474,120
$2.5M
Cap Rate 7%
$1,767,229
$1.8M
Cap Rate 9%
$1,374,511
$1.4M
Market Conditions
NOI Build-Up for 10,730 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$193.1K $18.00/SF
− Vacancy
−$16.4K −$1.53/SF
EGI
$176.7K $16.47/SF
− OpEx
−$53.0K −$4.94/SF
NOI
$123.7K $11.53/SF
Area
Brevard County, FL
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,474,120
Cap Rate 7%
$1,767,229
Cap Rate 9%
$1,374,511
Alternative Uses
Best Use
Retail
$1.77M
$1.55M – $2.06M
NOI $123,706 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.83M
$2.48M – $3.30M
NOI $198,162 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
Explore this area
Business Placement
Demographics for 32780, FL
39,525
Population
19,984
Households
2
Avg Household Size
48
Median Age
27%
College-Educated
92%
High-School Grad
68.1 sq mi
ZIP Area
580
Density / Sq Mi
$64,670
Median Household Income
$39,882
Median Earnings
$1,258
Median Rent
$250,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Zoned CC and served by public sewer and water, this retail building offers central HVAC on a US-1 frontage site.
Where is this retail space located?
The property is located at 2300 S WASHINGTON Avenue Titusville, FL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 0.9‑acre lot with 10,730 sq ft retail building; Direct US Hwy 1 frontage; One block from New Titus Landing with Hobby Lobby, Chipotle, Fire House Subs, Tuesday Morning, Bealls, and Epic Theatres
