1766 20Th AveVero Beach, FL 32960

Property Details for 1766 20Th Ave

Year built

1990

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.31 AC

Property size (Sq ft)

4,192 SF

Zone code

RM-10/12

Property type

Office properties

Property subtype

Office buildings

APN

33-39-02-00008-0040-00016.0

APU

9223372036854775807

Description

This exceptional two-story, 4,192 square foot office building is situated in Vero Beach's vibrant Downtown Vero Arts Village. Constructed in 1990 of durable concrete block, this low-maintenance property presents a compelling opportunity for both owner-occupants and investors. The building features four separately metered units, each offering flexibility for diverse business needs. The units can be easily combined to create a single, expansive floor plan, catering to a wide range of potential uses, including creative office, executive office, or medical office spaces. With a total net rentable area of 4,192 square feet, the asking price is $829,000, translating to a price per square foot of $197.76. This property's prime location and versatile design make it an attractive investment prospect with significant potential for return. The building's solid construction ensures longevity and minimal upkeep, minimizing operational costs and maximizing profitability. This is a rare opportunity to acquire a well-maintained, multi-unit office building in a thriving arts district. The individual metering of each unit provides efficient utility management and cost control for both the owner and tenants. Consider the potential for long-term rental income or the option to occupy a portion of the space while leasing the remainder. This versatile property offers a unique blend of stability and growth potential in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,633,106

  6.5%

  $1,507,483

  7%

  $1,399,805

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,068,583

  Geo Method

  $1,068,583

• Alternative Use

  Use

  Valuation

  Residential

  $1,869,278

  Hospitality

  $1,712,249

  Educational

  $1,424,571

  Medical

  $1,473,564

  Retail

  $2,215,999

Location Insight

City

Vero Beach

County

Indian River

State

Florida

Latitude

27.6347

Longitude

-80.4053

CBSA code

42680

CBSA name

SEBASTIAN-VERO BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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