Titusville Medical Plaza | US Hwy 1 500 N Washington Ave

HLI Partners, in tandem with Ten-X, is pleased to offer this stand-alone medical office facility with US Highway 1 frontage and Interstate 95 proximity. The property, located at 500 N Washington Avenue, encompasses 25,243 square feet, constructed on 2.31 acres, and offering ample surface parking spaces to employees and guests.

This value-add investment opportunity offers an investor the chance to benefit from a perfectly placed asset with proximity to healthy demographics, commercial outlets, Eastern Florida State College, and Parish Medical Center. 500 N Washington Avenue is also located in a densely populated, and continuously growing area. Over the last four years, the population within a 2-mile radius has expanded by 1.5%, and is expected to grow by an additional 2% over the next five years. Nearly 20% of these residents have obtained a bachelor’s degree or higher, while this same resident demographic tallied nearly $10M in healthcare spending in 2024.

The property lies in a Qualified Opportunity Zone, which was spun out of the federal Tax Cuts and Jobs Act of 2017. It is a new community redevelopment program that rewards development in certain communities across the country and presents the opportunity for capital gains tax savings which increases significantly over the hold period. The US Department of Treasury and IRS describe the program’s benefits as follows, “Qualified Opportunity Zones retain this designation for 10 years. Investors can defer tax on any prior gains until no later than December 31, 2026, so long as the gain is reinvested in a Qualified Opportunity Fund, an investment vehicle organized to make investments in Qualified Opportunity Zones. In addition, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor would be eligible for an increase in its basis equal to the fair market value of the investment on the date that it is sold.