Waterfront Mixed-Use Commercial
For Sale
Contact for pricing
3405 S Washington Avenue, Titusville, FL 32780
Two-story building with offices, showroom, and warehouse on 0.70 acres.
Property Size6,000 SF
Lot Size0.70 Acres
Price / SF$300
Days on Market778
Property Features for 3405 S Washington Avenue
General Information
Standard status
Active
Size
6,000 SF
Lot size
0.70 Acres
Property subtype
Mixed Use
Building Details
Year Built
2010
Units
1
Listing Agency:
Noble & Co. R.E. Professionals
(321) 607-1311
Listed By:
Courtney Noble · License #3135692
Source:
Crexi
Added: Jul 14, 2024
Changed: Aug 16
Last Checked: Aug 29 at 3:59AM
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 Noble & Co. R.E. Professionals
Investment Insights
Based on property information with market context.
This mixed-use commercial property features over 6,000 square feet of offices, showroom space, a mezzanine, and warehouse area within a solid two-story building. Situated on 0.70 acres, the property is located directly on US1 and the Indian River. It includes a well-maintained private dock, boat lift, and a newer sea wall. The property is partially fenced and includes an additional 0.3 +/- acres of cleared land, suitable for a second building expansion. Constructed with concrete block and metal, the building features a mechanical room, updated HVAC systems, a wiring closet, and upgraded electrical systems.
Key Highlights
- Waterfront commercial property on the Indian River with private dock and boat lift.
- Large building with over 6,000 sq ft of offices, showroom, mezzanine, and warehouse space.**
- Located directly on US1 with high visibility.
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
$81,648
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
4.54%
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%
$1,632,960
$1.6M
Cap Rate 7%
$1,166,400
$1.2M
Cap Rate 9%
$907,200
$907.2K
Market Conditions
NOI Build-Up for 6,000 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
$129.6K $21.60/SF
− Vacancy
−$20.7K −$3.46/SF
EGI
$108.9K $18.14/SF
− OpEx
−$27.2K −$4.54/SF
NOI
$81.6K $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%
$1,632,960
Cap Rate 7%
$1,166,400
Cap Rate 9%
$907,200
Alternative Uses
Best Use
Office B
$1.17M
$1.02M – $1.36M
NOI $81,648 @ 7.0% cap · market cap 4.54%
Second Best
Mixed Use
$994.5K
$870.2K – $1.16M
NOI $69,615 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$1.58M
$1.39M – $1.85M
NOI $110,808 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
548
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?
Mixed-use property - Two-story building with offices, showroom, and warehouse on 0.70 acres.
Where is this mixed-use property located?
The property is located at 3405 S Washington Avenue Titusville, FL.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Waterfront commercial property on the Indian River with private dock and boat lift.; Large building with over 6,000 sq ft of offices, showroom, mezzanine, and warehouse space.**; Located directly on US1 with high visibility.
