500 21St StVero Beach, FL 32960

Property Details for 500 21St St

Year built

1998

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

7.94 AC

Property size (Sq ft)

73,655 SF

Zone code

C-1B

Property type

Retail properties

Property subtype

Community centers

APN

33-39-01-00001-0000-00005.0

APU

9223372036854775807

Description

This exceptional retail space, located at 500 21st St, Vero Beach, FL 32960, offers 2,500 square feet of versatile commercial space. Situated in a thriving plaza on Vero's Miracle Mile, this Class B property boasts tremendous foot traffic and benefits from its proximity to the beach, making it an ideal location for a variety of businesses. The unit, #518, is part of a two-building, single-story complex zoned (C-1B) General Commercial Trades & Services, allowing for a wide range of commercial uses. The property is conveniently located alongside established businesses such as Fresh Market, First Watch, and Crumbl Cookies, ensuring high visibility and attracting a substantial customer base. Previous tenant use was an electric bike sales business. Utilities include FPL, city water, and sewer. The lease rate is $20.00 per square foot, NNN, plus sales tax. This is a rare opportunity to establish a business in a prime Vero Beach location with exceptional visibility and high foot traffic. Don't miss out on this chance to secure a thriving retail space in a highly desirable area.

• CAP approach

  CAP return

  Valuation

  6%

  $42,184,220

  6.5%

  $38,939,280

  7%

  $36,157,900

• Comparable approach

  Method

  Valuation

  Relative Method

  $47,314,000

  Geo Method

  $47,314,000

• Alternative Use

  Use

  Valuation

  Residential

  $32,846,738

  Hospitality

  $30,087,436

  Educational

  $25,032,394

  Medical

  $25,893,296

  Retail

  $38,939,280

Location Insight

City

Vero Beach

County

Indian River

State

Florida

Latitude

27.6408

Longitude

-80.3842

CBSA code

42680

CBSA name

SEBASTIAN-VERO BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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