Downtown Office Building
407 S Washington Avenue Unit 1 Titusville, FL 32796
407 S Washington Avenue Unit 1, Titusville, FL, 32796
$740,000
For Sale
$740,000
Professional office building on US-1 with multiple suites, including physician-ready exam room configuration and updated HVAC replacement in 2026.
Property Size5,123 SF
Price / SF$144.45
Days on Market16
Property Features for 407 S Washington Avenue Unit 1
General Information
- Standard status
- Active
- Size
- 5,123 SF
- Property subtype
- Office
Building Details
- Year Built
- 1901
Listing Agency
(321) 863-2233
Listed by
Coldwell Banker Paradise
(321) 863-2233
Source
Xome
Added: Jul 4 Checked: Jul 19 at 1:43 am
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 Coldwell Banker Paradise
Investment Insights
Based on property information with market context.
This downtown office building offers multiple independently usable suites, with the front (North) suite currently vacant. The north suite includes an open reception/showroom area, two offices, a restroom, a kitchenette, and updated flooring, totaling approximately 700 square feet. The rear suite is approximately 1,700 square feet with an open layout and rear ramp access.
A physician suite of approximately 2,300+ square feet is also part of the property, configured with a lobby, reception, several offices, five exam rooms, two restrooms, and a kitchen area. The building is described as well-maintained and features acoustic drop ceilings. Roof and all four HVAC units were replaced in 2026.
The property can be operated with suites remaining independent or connected through shared doorways, supporting a range of occupancy and flexibility options.
A physician suite of approximately 2,300+ square feet is also part of the property, configured with a lobby, reception, several offices, five exam rooms, two restrooms, and a kitchen area. The building is described as well-maintained and features acoustic drop ceilings. Roof and all four HVAC units were replaced in 2026.
The property can be operated with suites remaining independent or connected through shared doorways, supporting a range of occupancy and flexibility options.
Key Highlights
- Professional office building built in 1901 with multiple suites totaling 5,100+ SF on highly visible US‑1.
- Front (North) vacant suite: approx. 700 SF with open reception/showroom area, 2 offices, restroom, kitchenette, and updated flooring.
- Rear suite: approx. 1,700 SF open layout with rear building and ramp access.
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $116.8k | $22.80 |
| − Vacancy | −$9.3k | −$1.82 |
| EGI | $107.5k | $20.98 |
| − OpEx | −$43.0k | −$8.39 |
| NOI | $64.5k | $12.59 |
5,123 SF · lease $22.80/SF/yr · vacancy 8.00% · expense 40.00%
Alternative Uses
Best Use
Office B
$995.9K
$871.4K – $1.16M
NOI $69,714 @ 7.0% cap · market cap 9.42%
Second Best
Healthcare Medical
$921.1K
$806.0K – $1.07M
NOI $64,476 @ 7.0% cap · market cap 8.71%
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,612 @ 7.0% cap · market cap 12.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Total Sleep Management ...
Dental Office
Morgan & Morgan
Law Firm
Space Coast Gastroenterology ...
Physician
Digestive Health Physicians
Medical Clinic
William Rylander, MD
Physician
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FAQs
What type of property is this?
Office units - Professional office building on US-1 with multiple suites, including physician-ready exam room configuration and updated HVAC replacement in 2026.
Where is this office units located?
The property is located at 407 S Washington Avenue Unit 1 Titusville, FL.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: Professional office building built in 1901 with multiple suites totaling 5,100+ SF on highly visible US‑1.; Front (North) vacant suite: approx. 700 SF with open reception/showroom area, 2 offices, restroom, kitchenette, and updated flooring.; Rear suite: approx. 1,700 SF open layout with rear building and ramp access.
