2205 14Th AveVero Beach, FL 32960

Property Details for 2205 14Th Ave

Year built

1963

Construction

CONCRETE

Lot size

0.29 AC

Property size (Sq ft)

7,536 SF

Zone code

DTW

Property type

Office properties

Property subtype

Office buildings

APN

33-39-02-00001-0300-00006.0

APU

9223372036854775807

Description

This exceptional net-leased office building in Vero Beach, Florida presents a rare investment opportunity. Located in the desirable Downtown (DTW) zoning district, this 8,055 square foot, two-story building sits on a 0.43-acre lot with significant street frontage. Built in 1963 and fully renovated in 2019, the property boasts a modern interior and exterior, including a new roof, impact-rated windows and doors, six HVAC systems, a fire suppression system, and fiber optics. The building is currently 100% occupied by a single tenant under a lease extending to July 31, 2030, minimizing landlord responsibilities. Tenant pays all major operating expenses. Amenities include ample private parking, covered outdoor seating, and a private kitchen. The property offers a strong net operating income (NOI) of $232,800, resulting in a 6.48% capitalization rate. The asking price is $3,595,000, translating to $446.31 per square foot. Property taxes for 2023 were $14,108.20. City water and sewer, and FPL utilities are in place. This is a turnkey investment in a thriving downtown location with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,843,613

  6.5%

  $2,624,874

  7%

  $2,437,382

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,921,002

  Geo Method

  $1,921,002

• Alternative Use

  Use

  Valuation

  Residential

  $3,254,843

  Hospitality

  $2,981,419

  Educational

  $2,480,506

  Medical

  $2,565,814

  Retail

  $3,858,564

Location Insight

City

Vero Beach

County

Indian River

State

Florida

Latitude

27.6411

Longitude

-80.3996

CBSA code

42680

CBSA name

SEBASTIAN-VERO BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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