1103 21St StVero Beach, FL 32960

Property Details for 1103 21St St

Year built

1930

Construction

WOOD

Lot size

0.67 AC

Property size (Sq ft)

5,145 SF

Zone code

C-1B

Property type

Retail properties

Property subtype

Turn key restaurants

APN

33-39-01-00022-0020-00001.0

APU

9223372036854775807

Description

This iconic Vero Beach restaurant building, a well-established landmark, presents a remarkable opportunity for lease or sale. Spanning 5,145 square feet on a .67-acre lot (29,185.2 sq ft), this single-tenant property boasts approximately 87 feet of road frontage on US1 and 165 feet on SR 60 West. The building, constructed in 1930, features upscale fixed dining rooms and a bar, along with an inviting outdoor patio and bar area. This turnkey operation includes a full liquor license and ample parking, catering to a dedicated customer base along the Treasure Coast. The property is zoned C-1B (General Commercial Trades and Services) in Indian River County, Florida, and benefits from city water and FPL utilities. Annual property taxes are $11,065.84 (2022). Lease terms are $12,000 per month plus sales tax, while the sale price is $1,600,000. Furnishings and equipment are available for an additional $125,000. This is an exceptional opportunity to acquire a thriving business in a prime Vero Beach location. The address is 1103 21st St, Vero Beach, FL 32960.

• CAP approach

  CAP return

  Valuation

  6%

  $2,946,554

  6.5%

  $2,719,896

  7%

  $2,525,618

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,305,010

  Geo Method

  $3,305,010

• Alternative Use

  Use

  Valuation

  Residential

  $2,294,334

  Hospitality

  $2,101,598

  Educational

  $1,748,505

  Medical

  $1,808,639

  Retail

  $2,719,896

Location Insight

City

Vero Beach

County

Indian River

State

Florida

Latitude

27.6392

Longitude

-80.3956

CBSA code

42680

CBSA name

SEBASTIAN-VERO BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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