Titusville Office Building on
For Sale
$2,100,000
6770 S Washington Avenue, Titusville, FL 32780
10,000 SF office building on 1.5 acres in Titusville.
Property Size10,545 SF
Lot Size1.58 Acres
Price / SF$199.15
Days on Market617
Property Features for 6770 S Washington Avenue
General Information
Standard status
Active
Size
10,545 SF
Lot size
1.58 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$8,841
Building Details
Year Built
1988
Listing Agency:
Florida Realty Investments
(321) 271-4932
Listed By:
Caroline Christine Hatten · License #3441246
(321) 271-4932
Source:
Exitrealty
Added: Dec 4, 2024
Changed: Aug 8
Last Checked: Jul 31 at 6:42AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Florida Realty Investments
Investment Insights
Based on property information with market context.
This 10,545 square foot office building is located in Titusville, Florida. Situated on 1.5 acres directly on US1, the property features a 6-unit office building. The location benefits from an annual average daily traffic count of over 20,000. A large parking lot provides 48 spaces. The property is located less than one mile from Space Coast Regional Airport, several hotels, and the NASA Causeway. It is in close proximity to NASA/Kennedy Space Center, Space X, Blue Origin, Boeing, and Port Canaveral. This property presents an investment opportunity on Florida's Space Coast.
Key Highlights
- High‑traffic location directly on US1 with over 20,000 AADT.
- Large 1.5‑acre lot with a 10,000 sqft, 6‑unit office building and 48 parking spaces.
- Proximity to major employers and attractions: NASA/Kennedy Space Center, Space X, Blue Origin, Boeing, Port Canaveral.
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
$143,496
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
6.83%
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%
$2,869,920
$2.9M
Cap Rate 7%
$2,049,943
$2.0M
Cap Rate 9%
$1,594,400
$1.6M
Market Conditions
NOI Build-Up for 10,545 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
$227.8K $21.60/SF
− Vacancy
−$36.4K −$3.46/SF
EGI
$191.3K $18.14/SF
− OpEx
−$47.8K −$4.54/SF
NOI
$143.5K $13.61/SF
Area
Brevard County, FL
Vacancy
16.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$2,869,920
Cap Rate 7%
$2,049,943
Cap Rate 9%
$1,594,400
Alternative Uses
Best Use
Office B
$2.05M
$1.79M – $2.39M
NOI $143,496 @ 7.0% cap · market cap 6.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.78M
$2.43M – $3.25M
NOI $194,745 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
73
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 10,000 SF office building on 1.5 acres in Titusville.
Where is this office building located?
The property is located at 6770 S Washington Avenue Titusville, FL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: High‑traffic location directly on US1 with over 20,000 AADT.; Large 1.5‑acre lot with a 10,000 sqft, 6‑unit office building and 48 parking spaces.; Proximity to major employers and attractions: NASA/Kennedy Space Center, Space X, Blue Origin, Boeing, Port Canaveral.
