1201 19Th PlVero Beach, FL 32960

  • Office properties
  • 38,472 SF
For Lease
$23/SF/YR View listing

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 properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
1201 19Th Pl, Vero Beach, Florida

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$80,682
$728,119
$4,139,753
$4,867,872
-
$728,119
$4,139,753
$4,867,872

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