Medical Office Space with Exam
For Sale
$750,000
1855 JESS PARRISH Court, Titusville, FL 32796
Commercial Sale, TITUSVILLE, FL
Property Size5,352 SF
Lot Size0.52 Acres
Price / SF$140.13
Days on Market509
Property Features for 1855 JESS PARRISH Court
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
HM
Subdivision
SAID MORGAN LAND SUB
Lot features
Central Business District, City Limits
Directions
US 1 north of Garden St. Pass AKO restaurant. Building on right side. Parking on east side of building.
Standard status
Active
APN
21 3533-00-254.1
Size
5,352 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
PART OF NE 1/4 OF NW 1/4 & PART OF S 1/2 OF GOVT LOT 1 AS DES IN ORB 1406 PG 709
Tax Annual Amount
12020
Legal Description
PART OF NE 1/4 OF NW 1/4 & PART OF S 1/2 OF GOVT LOT 1 AS DES IN ORB 1406 PG 709
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1974
Floors in Building
1
Building materials
Brick, Frame
Roof type
Shingle
Listing Agency:
MUTTER REALTY · Real Living
(321) 269-9855
Listed By:
James Mutter · License #3594768
(321) 501-0290
Added: Apr 29, 2025
Changed: Aug 24
Last Checked: Sep 18 at 11:06PM
MLS# O6304127
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 5,352-square-foot medical office facility occupies a 0.52-acre lot at 1855 Jess Parrish Court in Titusville. The clinical plan includes nine exam rooms, a dedicated X-ray room, three private physician offices, a waiting area, reception, and separate spaces for management, billing, and scheduling. A 22-space private parking lot serves the building.
The property is positioned on US 1 near Parrish Medical Center, major roadways, and local amenities. Zoning is HM. Building systems include central heating and central air, with two air-conditioning units that are 7 years old. The roof and water heater have been replaced. Construction consists of brick and frame, with a shingle roof, public sewer, and electricity available.
The property is positioned on US 1 near Parrish Medical Center, major roadways, and local amenities. Zoning is HM. Building systems include central heating and central air, with two air-conditioning units that are 7 years old. The roof and water heater have been replaced. Construction consists of brick and frame, with a shingle roof, public sewer, and electricity available.
Key Highlights
- 5,352‑square‑foot medical office on a 0.52‑acre lot
- Nine exam rooms and a dedicated X‑ray room
- Three private physician offices plus management, billing, and scheduling areas
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
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
471
Businesses Nearby
Under-served
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Built-out clinical space includes imaging capability, physician offices, and dedicated administrative areas.
Where is this medical office space located?
The property is located at 1855 JESS PARRISH Court 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: 5,352‑square‑foot medical office on a 0.52‑acre lot; Nine exam rooms and a dedicated X‑ray room; Three private physician offices plus management, billing, and scheduling areas
