Multi-Suite Office
For Sale
$740,000
407 S Washington Avenue 1, Titusville, FL 32796
Flexible professional property with independent suites, parking, and a configured physician office component.
Property Size5,100 SF
Price / SF$144.45
Days on Market53
Property Features for 407 S Washington Avenue 1
General Information
Standard status
Active
Size
5,100 SF
Additional Details
Road Access
Yes
Office Units
3
Amenities
acoustic drop ceilings
kitchenette
ramp access
Building Details
Building Size
5,100 SF
Listing Agency:
Coldwell Banker Paradise
(321) 863-2233
Listed By:
Tami Leliuga · License #686160
(321) 863-2233
Source:
Startbrevardsearch
Added: Jul 10
Changed: Aug 30
Last Checked: Aug 30 at 4:45PM
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 5,123-square-foot office building contains three independently usable areas with shared doorways that allow the suites to connect when needed. The approximately 700-square-foot front suite includes an open reception or showroom area, two offices, a restroom, kitchenette, and updated flooring. An approximately 1,700-square-foot rear suite offers open workspace with ramp access. The physician suite spans more than 2,300 square feet and includes a lobby, reception area, several offices, five exam rooms, two restrooms, and a kitchen area.
Positioned along US-1 at 407 S Washington Avenue, the property provides front and rear parking. Roof and all four HVAC units were replaced in 2026. Acoustic drop ceilings are installed throughout. The physician suite is subject to the seller’s stated lease-back plan, while the other areas provide additional occupancy flexibility for an owner-user or investor.
Positioned along US-1 at 407 S Washington Avenue, the property provides front and rear parking. Roof and all four HVAC units were replaced in 2026. Acoustic drop ceilings are installed throughout. The physician suite is subject to the seller’s stated lease-back plan, while the other areas provide additional occupancy flexibility for an owner-user or investor.
Key Highlights
- 5,123 SF office building with three independently usable areas
- Approximately 700 SF front suite with reception/showroom, 2 offices, restroom, kitchenette, and updated flooring
- Approximately 1,700 SF rear suite with open layout and ramp access
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
$64,476
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
8.71%
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%
$1,289,520
$1.3M
Cap Rate 7%
$921,086
$921.1K
Cap Rate 9%
$716,400
$716.4K
Market Conditions
NOI Build-Up for 5,123 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
$116.8K $22.80/SF
− Vacancy
−$9.3K −$1.82/SF
EGI
$107.5K $20.98/SF
− OpEx
−$43.0K −$8.39/SF
NOI
$64.5K $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%
$1,289,520
Cap Rate 7%
$921,086
Cap Rate 9%
$716,400
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,094
Businesses Nearby
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?
Office building - Flexible professional property with independent suites, parking, and a configured physician office component.
Where is this office building located?
The property is located at 407 S Washington Avenue 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: 5,123 SF office building with three independently usable areas; Approximately 700 SF front suite with reception/showroom, 2 offices, restroom, kitchenette, and updated flooring; Approximately 1,700 SF rear suite with open layout and ramp access
