2006 Washington Ave Titusville, FL 32780-4739
- Motels
- 6,704 SF
- 0.31 lot acres
Aug 21, 2024
Current Use by Public Records
- Siesta Motor Inn / Motel
Property Details for 2006 Washington Ave
- Year built
- 1963
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.31 lot acres
- Property size
- 6,704 SF
- Zone code
- T
- Property type
- Motels
- APN
- 22-35-10-01-00000.0-0064.00
- APU
- 9223372036854775807
Description
This exceptional investment opportunity presents a unique 0.31-acre commercial property located at 2006 Washington Avenue in Titusville, Florida, 32780. The property, a charming mid-century motor court, boasts 15 well-appointed rooms, including three full guest suites on the second floor. One suite features a private entrance and courtyard, and two rooms are designed for double occupancy. Significant recent improvements exceeding $60,000 have been made, encompassing a new metal roof, exterior paint, window replacements, tankless water heaters, a security camera system, an upgraded electrical panel, combination door locks, custom tropical-design railings and stairs, and new paver walkways and patios. The property also includes an on-site coin-operated laundry and a maid's storage room. An approximately 800-square-foot private apartment on the second floor offers a river view and features a full kitchen, living room, dining area, a spacious bedroom with an ensuite bathroom, and ample closet space. The property's prime location on US Highway 1 ensures high visibility and access to both local and tourist traffic. National brand shopping, restaurants, and a movie theater are within a half-mile radius, and numerous locally owned businesses are within one mile. The asking price for this remarkable property is $1,250,000.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $950,000
- ML approach
- $950,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,010,000
- 6.5%
- $930,000
- 7%
- $865,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $950,000
Market price range: $950k - $2.54M -
Alternative Use
- Use
- Estimation
- AUTO REPAIR, GARAGE
- $1,400,000
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Location Insight
- Map
- Local Demand
- City
- Titusville
- County
- Brevard
- State
- Florida
- Longitude
- -80.8033
- Latitude
- 28.5907
- CBSA code
- 37340
- CBSA name
- PALM BAY-MELBOURNE-TITUSVILLE, FL METROPOLITAN STATISTICAL AREA