This exceptional Class A office building, completed in 2021, offers 7,744 square feet of space in Vero Beach, Florida. Located at 1745 20th St, this single, two-story building sits on a 14.81-acre lot with 105 feet of frontage on SR 60 and boasts 26 total parking spaces, including 20 covered spots. The property is zoned C1-B for General Commercial Trades & Services and features multiple suites available for lease, ranging from 468 to 1,204 square feet. Lease rates vary depending on the suite size, with some including electricity. The building's design incorporates high-level finishes and a traditional aesthetic, with custom layouts available to meet individual business needs. Its prime location offers easy access to major roadways, is near the Indian River County Courthouse, and is conveniently close to shopping and restaurants. The high traffic count of 22,069 (2021 AADT) ensures excellent visibility. The entire building is also available for purchase at $3,875,000. The owner is open to leasing with an option to purchase and is also willing to sell smaller units individually. City water, sewer, and FPL utilities are available. This property presents a unique opportunity for businesses seeking a modern, well-located office space in a thriving area.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$2,813,178
6.5%
$2,596,779
7%
$2,411,295
Comparable approach
Method
Valuation
Relative Method
$1,840,705
Geo Method
$1,840,705
Alternative Use
Use
Valuation
Residential
$3,220,006
Hospitality
$2,949,508
Educational
$2,453,956
Medical
$2,538,352
Retail
$3,817,265
Location Insight
City
Vero Beach
County
Indian River
State
Florida
Latitude
27.6384
Longitude
-80.4032
CBSA code
42680
CBSA name
SEBASTIAN-VERO BEACH, FL METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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