Titusville Medical Office Near
For Sale
$750,000
1855 JESS PARRISH Ct, Titusville, FL 32796
Spacious medical office near Parrish Medical Center in Titusville.
Property Size5,352 SF
Lot Size0.52 Acres
Price / SF$140.13
Days on Market152
Property Features for 1855 JESS PARRISH Ct
General Information
Standard status
Active
Size
5,352 SF
Lot size
0.52 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,020
Building Details
Building Size
5,352 SF
Year Built
1974
Stories
1
Listing Agency:
28SIX Property Management
(321) 269-9855
Listed By:
James Mutter · License #3594768
(321) 269-9855
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 8 at 6:11AM
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 28SIX Property Management
Investment Insights
Based on property information with market context.
This 5352 square foot medical office is located in Titusville, strategically positioned near Parrish Medical Center, major roadways, and local amenities. The facility offers visibility and accessibility on US 1 within the Titusville community. The interior layout is designed to support a high-volume practice, featuring 9 exam rooms, a dedicated x-ray room, and 3 private physician offices. It also includes a waiting room, reception area, and separate offices for management, billing, and scheduling. The private parking lot has 22 parking spots. The property includes two air conditioner units that are 7 years old. The roof and water heater have recently been replaced. The vacant lot south of the building is for sale separately and has 1.44 acres, offering room to grow. This move-in-ready space is suitable for a large practice, specialty group, or multi-provider clinic.
Key Highlights
- Move‑in ready, fully built‑out 5352sf medical office space.
- Prime location near Parrish Medical Center and major roadways on US 1.
- Ideal for a large practice, specialty group, or multi‑provider clinic.
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
$67,358
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
8.98%
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%
$1,347,160
$1.3M
Cap Rate 7%
$962,257
$962.3K
Cap Rate 9%
$748,422
$748.4K
Market Conditions
NOI Build-Up for 5,352 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
$122.0K $22.80/SF
− Vacancy
−$9.8K −$1.82/SF
EGI
$112.3K $20.98/SF
− OpEx
−$44.9K −$8.39/SF
NOI
$67.4K $12.59/SF
Area
Brevard County, FL
Vacancy
8.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
40.00%
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%
$1,347,160
Cap Rate 7%
$962,257
Cap Rate 9%
$748,422
Alternative Uses
Best Use
Office B
$1.04M
$910.4K – $1.21M
NOI $72,830 @ 7.0% cap · market cap 9.71%
Second Best
Healthcare Medical
$962.3K
$842.0K – $1.12M
NOI $67,358 @ 7.0% cap · market cap 8.98%
Theoretical Best
Office A
$1.41M
$1.24M – $1.65M
NOI $98,841 @ 7.0% cap · market cap 13.18%
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 - Spacious medical office near Parrish Medical Center in Titusville.
Where is this medical office space located?
The property is located at 1855 JESS PARRISH Ct Titusville, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Move‑in ready, fully built‑out 5352sf medical office space.; Prime location near Parrish Medical Center and major roadways on US 1.; Ideal for a large practice, specialty group, or multi‑provider clinic.
