2560 Washington Ave Titusville, FL 32780
- Strip malls
- 6,150 SF
- 1.05 lot acres
Current Use by Public Records
- Sage Dental of Titusville / Dentist / Cosmetic Dentist
- Chipotle Mexican Grill / Fast Food Restaurant / Caterer
Property Details for 2560 Washington Ave
- Year built
- 2022
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.05 lot acres
- Property size
- 6,150 SF
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 22-35-15-02-00000.0-0005.01
- APU
- 9223372036854775807
Description
This exceptional investment opportunity presents a fee-simple ownership of a 6,150-square-foot retail property in Titusville, Florida. Located at 2560 S Washington Ave, this Class A, single-story building sits on a 1.05-acre lot and boasts 51 parking spaces. Currently 100% occupied by two credit-rated tenants, Chipotle and Sage Dental, under a triple-net (NNN) lease structure with a remaining term of 9 years. The lease includes a 10% rent increase every five years, ensuring consistent income growth. Chipotle's presence, including a Chipotlane drive-thru, and Sage Dental's established reputation contribute to the property's strong financial performance. The property's NOI is $252,638, resulting in a 4.91% cap rate. Built in 2022, the property benefits from its strategic location within the Titus Landing Lifestyle Center, a significant retail development anchored by major brands. The property is zoned UV - Urban Village, and its location on the Space Coast, near Kennedy Space Center and Orlando, provides access to a thriving tourism and aerospace industry. This core investment offers a compelling combination of strong tenants, a desirable location, and significant upside potential. The asking price is $5,150,000, translating to $837.40 per square foot.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,910,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $4,315,000
- 6.5%
- $4,285,000
- 7%
- $4,905,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $4,260,000
- Geo Method
- $4,290,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $4,525,000
- Retail
- $5,010,000
- Mixed-Use
- $5,155,000
- Hospitality
- $4,070,000
- Educational
- $3,970,000
- Residential Income
- $4,620,000
- Energy
- $4,435,000
- Income-Based Land
- $5,340,000
- Food Service
- $5,095,000
Location Insight
- Map
- Local Demand
- City
- Titusville
- County
- Brevard
- State
- Florida
- Longitude
- -80.8021
- Latitude
- 28.5846
- CBSA code
- 37340
- CBSA name
- PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA
