Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    500 N Washington Ave Titusville, FL 32796

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Located in a highly-sought after medical district on Florida’s Space Coast.

    Type:Office
    Property size:
    25,243 SF
    Added:
    Jul 2, 2024
    Days on Market:
    671
    Last Refresh:
    Mar 17 at 1:26 pm

    Property Features for 500 N Washington Ave

    General Information

    Standard status
    Active
    Size
    25,243 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Joe Hills

    Listing agent Joe Hills License #BK3062217

    Listing office HLI, LLC

    Listing date Jul 2, 2024

    Source Crexi

    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 HLI, LLC

    Overview

    Medical Office Space on Washington

    Located on Washington Avenue, which sees 29,500 cars per day, this site is situated in a highly sought-after medical district on Florida’s Space Coast. The property at 500 N Washington is within a mile of the Eastern Florida State College campus, which has a student and faculty population of 1,711 and 1,200 employees. Titusville, located on Florida's Space Coast, provides convenient access to Orlando and Daytona Beach via Interstate 95 and State Road 528. The property is suitable for commercial real estate, medical office space, and general office use. The property size is 25,243 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Coast Physical Therapy Medical Clinic Leonardo's Wrecker Service Auto Repair Shop Spitz Anita D ... Pediatrician Florida Dermatology Associates Medical Clinic Dr. Isaac M. ... Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Singleton Avenue Animal Hospital — 1335 N Singleton Ave, Titusville, FL 32796

    Location Insight

    • Map
    • Local Demand
    City
    Titusville
    County
    Brevard
    State
    Florida
    Longitude
    -80.8168459
    Latitude
    28.6186972

    Nearby Similar for Sale

    • $310,000
      3,091 SF

      Prime Retail Opportunity in TITUSVILLE

      Spacious shopping center unit with high visibility and endless potential.
      1909 KNOX MCRAE DRIVE, TITUSVILLE, FL 32780
      View Details
    • $550,000
      5,486 SF

      Spacious Retail Opportunity in Titusville

      Expansive shopping center unit with high visibility and ample parking.
      1889 KNOX MCRAE DRIVE, TITUSVILLE, FL 32780
      View Details
    • $725,000
      2,800 SF

      Titusville Retail Building For Sale

      Stand-alone retail building on a corner lot with ample parking.
      2916 S WASHINGTON AVENUE, TITUSVILLE, FL 32780
      View Details
    • $630,000
      1,866 SF

      Titusville Commercial Property For Sale

      Highly visible commercial property with functional layout in Titusville, Florida.
      503 CHENEY HIGHWAY, TITUSVILLE, FL 32780
      View Details
    • $3,000,000
      9,436 SF

      Established Academy on Knox McRae

      Fully operational academy with real estate in Titusville, Florida.
      1330 KNOX MC RAE DRIVE, TITUSVILLE, FL 32780
      View Details
    • $770,000
      7,683 SF

      Spacious Titusville Retail Opportunity

      Expansive shopping center unit with high visibility and endless potential.
      1931 KNOX MCRAE DRIVE, TITUSVILLE, FL 32780
      View Details
    • $175,000
      1,728 SF

      Spacious Retail Opportunity in Titusville

      Expansive shopping center unit with high visibility and access.
      1881 KNOX MCRAE DRIVE, TITUSVILLE, FL 32780
      View Details
    • $4,900,000
      47,179 SF

      Versatile Titusville Commercial Space

      47,000+ sq ft mixed-use space for sale in Titusville.
      1923 KNOX MCRAE DRIVE, TITUSVILLE, FL 32780
      View Details
    • $65,000
      1,280 SF

      Titusville Office on Corner Lot

      Office property on a corner lot in Titusville, Florida.
      929 S DELEON AVENUE, TITUSVILLE, FL 32780
      View Details
    • $750,000
      5,352 SF

      Spacious Medical Office Near Parrish

      Move-in ready medical office near Parrish Medical Center.
      1855 JESS PARRISH COURT, TITUSVILLE, FL 32796
      View Details
    • $239,000
      1,324 SF

      Titusville Office: Turnkey & Modern

      Well-maintained Titusville office space with modern updates and flexible zoning.
      2314 S Hopkins Avenue, Titusville, FL 32780
      View Details
    • $500,000
      2,073 SF

      Established Auto Shop in Titusville

      Fully equipped auto shop in a prime Titusville location.
      425 COLEMAN STREET, TITUSVILLE, FL 32796
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Located in a highly-sought after medical district on Florida’s Space Coast.
    Where is this medical office space located?
    The property is located at 500 N Washington Ave Titusville, FL.
    What are key features of this property?
    This property features: Located in a highly sought‑after medical district.; High traffic location with 29,500 CPD on Washington Avenue.; Proximity to Eastern Florida State College with a student/faculty population of 1,711 and 1,200 employees.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Joe Hills
    Real Estate License ID: BK3062217
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    500 N Washington Ave, Titusville, FL 32796

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!