Medical Office
For Sale
Contact for pricing
1653 Jess Parrish Court, Titusville, FL 32796
Established healthcare property with medical-office improvements dating to 1983.
Property Size6,255 SF
Price / SF$300.50
Days on Market14
Property Features for 1653 Jess Parrish Court
General Information
Standard status
Active
Size
6,255 SF
Property subtype
Retail, Office
Net Operating Income
$150,370
Additional Details
Cap Rate
8%
Building Details
Year Built
1983
Year Renovated
2000
Listing Agency:
Matthews
Listed By:
Dominick Deignan · License #SL3639693
Source:
Crexi
Added: Aug 12
Changed: Aug 21
Last Checked: Aug 24 at 5:55AM
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 Matthews
Investment Insights
Based on property information with market context.
This medical office property contains 6,255 square feet of improvements built in 1983. The asset has a documented history of pediatric-care operations spanning more than 40 years and is described as corporate-backed.
Located at 1653 Jess Parrish Court in Titusville, Florida 32796, the property is offered as a medical office asset. The listing reports an 8.00% cap rate for the opportunity.
Located at 1653 Jess Parrish Court in Titusville, Florida 32796, the property is offered as a medical office asset. The listing reports an 8.00% cap rate for the opportunity.
Key Highlights
- 6,255‑square‑foot medical office property
- Built in 1983
- More than 40 years of pediatric‑care history
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
$85,118
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
4.53%
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%
$1,702,360
$1.7M
Cap Rate 7%
$1,215,971
$1.2M
Cap Rate 9%
$945,756
$945.8K
Market Conditions
NOI Build-Up for 6,255 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
$135.1K $21.60/SF
− Vacancy
−$21.6K −$3.46/SF
EGI
$113.5K $18.14/SF
− OpEx
−$28.4K −$4.54/SF
NOI
$85.1K $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%
$1,702,360
Cap Rate 7%
$1,215,971
Cap Rate 9%
$945,756
Alternative Uses
Best Use
Office B
$1.22M
$1.06M – $1.42M
NOI $85,118 @ 7.0% cap · market cap 4.53%
Second Best
Healthcare Medical
$1.12M
$984.0K – $1.31M
NOI $78,723 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$1.65M
$1.44M – $1.93M
NOI $115,517 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
387
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 32796, FL
20,818
Population
9,670
Households
2.2
Avg Household Size
50
Median Age
28%
College-Educated
90%
High-School Grad
14.4 sq mi
ZIP Area
1,446
Density / Sq Mi
$67,399
Median Household Income
$40,368
Median Earnings
$1,305
Median Rent
$243,700
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?
Medical Office Space - Established healthcare property with medical-office improvements dating to 1983.
Where is this medical office space located?
The property is located at 1653 Jess Parrish Court Titusville, FL.
What is the asking price?
The asking price for this property is $1,879,628.
What are key features of this property?
This property features: 6,255‑square‑foot medical office property; Built in 1983; More than 40 years of pediatric‑care history
