Titusville 1220 South Washington Avenue US 1 | 1220 S Washington Ave
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Titusville 1220 South Washington Avenue US 1 1220 S Washington Ave
1,960 SF 100% Leased Retail Building Titusville, FL 32780 £749,550 (£382/SF)
Executive Summary
The property consists of a 2,009+-sq ft concrete building on .53+- acres with direct access from
Highway US 1 and South Washington Avenue. The property was renovated in 1962 as a gas station
and further renovated to its current state. In approximately 2016-2017 a new roof was placed on the
building by the current owners. In approximately 2016-20177- 7-Eleven acquired a portfolio of
several gas and convenience operations to include an existing lease on the building which they ran
as a gas and convenience store for several years. The building is currently vacant. The current lease
with 7-Eleven expires in August 31 2024. However, 7-Eleven continues to maintain the building . All
gas pumps have been removed from the property and all remediation has been approved and
completed. They also renovated the bathrooms to ADA standards.
The building is zoned “Down Town Mix Use and “Mid Town” which is a very liberal zoning which
allows most commercial usages to include work-live, multi family, duplex, triplex, and quad-plex at a
density of 30 units per acre and a height restriction of 5 stories. Also as noted in the “Offering
Summary, the property is located in and a part of the Titusville CRA-Commercial Re-Development
Agency. This designation allows and provides for possible financial development grants for future
development and re-development.
PROPERTY DESCRIPTION
Building Construction: Masonry Conc. Roof BU-TG/MMBRY Bar Joist Rigid (Brevard County Property Appraisers Records)
Lot Size: 0.53 Acres Irregular Shape.
Dual frontage: Hwy US 1 and Washington Avenue
Note: Current 7-Eleven Lease:
When the property is sold, the Buyer becomes the new Landlord. The Lease stays intact until it expires or until it is terminated. If the Buyer wants immediate access to the
building either for renovations or demolition, the lease will have to be terminated. Lease expires is August of 2024
Zoning Code Link
https://library.municode.com/fl/titusville/codes/land_development_regulations_?nodeId=TILADERE_CH28ZO_ARTVIZODIST_S28-324DOMIEDMSMCO
Permitted Use Link
https://library.municode.com/fl/titusville/codes/land_development_regulations_?nodeId=TILADERE_CH28ZO_ARTIVUSTA_S28-54USTA
LOCATION DESCRIPTION
The property is located in the Space Coast of Florida in Titusville at the busy intersection of Hwy US 1 and Washington and on the Southern Border of the Commercial ReDevelopment District Brevard County Florida.
Cocoa Beach and all its ambience is approximately 30 miles to the South
The City of Melbourne and the Orlando Melbourne International Airport is approximately 40 miles to the South.
Port Canaveral which is one of the busiest cruise terminals in the world and the Canaveral National sea shores is approximately 20 miles to the North
The bustling City of Orlando and the Orlando International airport is approximately 42 miles to the West
The beautiful beaches of Daytona and new Smyrna are approximately 45 miles to the north
Note: Property is located in and a part of the Titusville CRA-Commercial Re-Development Agency. This designation allows and provides for possible financial development grants
for future development and redevelopment.
See Link: Community Redevelopment Agency | Titusville, FL
https://titusville.com/228/Community-Redevelopment-Agency
Highway US 1 and South Washington Avenue. The property was renovated in 1962 as a gas station
and further renovated to its current state. In approximately 2016-2017 a new roof was placed on the
building by the current owners. In approximately 2016-20177- 7-Eleven acquired a portfolio of
several gas and convenience operations to include an existing lease on the building which they ran
as a gas and convenience store for several years. The building is currently vacant. The current lease
with 7-Eleven expires in August 31 2024. However, 7-Eleven continues to maintain the building . All
gas pumps have been removed from the property and all remediation has been approved and
completed. They also renovated the bathrooms to ADA standards.
The building is zoned “Down Town Mix Use and “Mid Town” which is a very liberal zoning which
allows most commercial usages to include work-live, multi family, duplex, triplex, and quad-plex at a
density of 30 units per acre and a height restriction of 5 stories. Also as noted in the “Offering
Summary, the property is located in and a part of the Titusville CRA-Commercial Re-Development
Agency. This designation allows and provides for possible financial development grants for future
development and re-development.
PROPERTY DESCRIPTION
Building Construction: Masonry Conc. Roof BU-TG/MMBRY Bar Joist Rigid (Brevard County Property Appraisers Records)
Lot Size: 0.53 Acres Irregular Shape.
Dual frontage: Hwy US 1 and Washington Avenue
Note: Current 7-Eleven Lease:
When the property is sold, the Buyer becomes the new Landlord. The Lease stays intact until it expires or until it is terminated. If the Buyer wants immediate access to the
building either for renovations or demolition, the lease will have to be terminated. Lease expires is August of 2024
Zoning Code Link
https://library.municode.com/fl/titusville/codes/land_development_regulations_?nodeId=TILADERE_CH28ZO_ARTVIZODIST_S28-324DOMIEDMSMCO
Permitted Use Link
https://library.municode.com/fl/titusville/codes/land_development_regulations_?nodeId=TILADERE_CH28ZO_ARTIVUSTA_S28-54USTA
LOCATION DESCRIPTION
The property is located in the Space Coast of Florida in Titusville at the busy intersection of Hwy US 1 and Washington and on the Southern Border of the Commercial ReDevelopment District Brevard County Florida.
Cocoa Beach and all its ambience is approximately 30 miles to the South
The City of Melbourne and the Orlando Melbourne International Airport is approximately 40 miles to the South.
Port Canaveral which is one of the busiest cruise terminals in the world and the Canaveral National sea shores is approximately 20 miles to the North
The bustling City of Orlando and the Orlando International airport is approximately 42 miles to the West
The beautiful beaches of Daytona and new Smyrna are approximately 45 miles to the north
Note: Property is located in and a part of the Titusville CRA-Commercial Re-Development Agency. This designation allows and provides for possible financial development grants
for future development and redevelopment.
See Link: Community Redevelopment Agency | Titusville, FL
https://titusville.com/228/Community-Redevelopment-Agency
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Convenience Store
Building Size
1,960 SF
Building Class
C
Year Built
1962
Price
£749,550
Price Per SF
£382
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.08
Land Acres
0.53 AC
Zoning
CBD - City of Titusville: “Down Town Mixed Use” and the property is in the “Mid Town Sub District” See all uses in section “P”
Parking
9 Spaces (4.59 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
PROPERTY TAXES
| Parcel Number | 22-35-03-56-00010.0-0012.00 | Improvements Assessment | £56,579 |
| Land Assessment | £80,588 | Total Assessment | £137,168 |
PROPERTY TAXES
Parcel Number
22-35-03-56-00010.0-0012.00
Land Assessment
£80,588
Improvements Assessment
£56,579
Total Assessment
£137,168
-
Michael Dreyer CCIM, ALC -
Dreyer & Associates Real Estate Group
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