1201 19Th PlVero Beach, FL 32960

Property Details for 1201 19Th Pl

Year built

2005

Construction

CONCRETE

Lot size

1.97 AC

Property size (Sq ft)

38,472 SF

Zone code

DTW

Property type

Office buildings

APN

33-39-02-00007-0110-00001.0

APU

9223372036854775807

Description

This exceptional commercial property, located at 1201 19th Place in Vero Beach, Florida, presents a unique investment opportunity. Comprising two buildings totaling 40,068 square feet on a 1.97-acre lot, this Class B office complex offers a diverse range of spaces suitable for various business needs. Built in 1972 and extensively renovated in 2023, the property boasts a modern aesthetic while retaining its classic charm. The four-story buildings feature multiple tenancies, with available suites ranging from 100 to 1,293 square feet, catering to businesses of all sizes. The property includes ample parking, a significant advantage in the downtown Vero Beach area. The property is conveniently located in Indian River County, Florida, with easy access to major roadways and local amenities. The versatile space is ideal for medical, traditional, or executive office uses, and also includes a cell tower. Elevators are available for convenient access to all floors. This well-maintained property offers a blend of historical character and modern functionality, making it an attractive option for discerning businesses seeking a prime location in Vero Beach. The property's strategic location and recent renovations ensure a high return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $14,988,239

  6.5%

  $13,835,297

  7%

  $12,847,062

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,806,898

  Geo Method

  $9,806,898

• Alternative Use

  Use

  Valuation

  Residential

  $17,155,768

  Hospitality

  $15,714,592

  Educational

  $13,074,356

  Medical

  $13,524,003

  Retail

  $20,337,886

Location Insight

City

Vero Beach

County

Indian River

State

Florida

Latitude

27.637

Longitude

-80.3982

CBSA code

42680

CBSA name

SEBASTIAN-VERO BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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