573 27Th AveVero Beach, FL 32968

  • Retail properties
  • 2,870 SF
For Sale
$140,000 View listing

Property Details for 573 27Th Ave

Year built
1984
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
0.33 AC
Property size (Sq ft)
2,870 SF
Zone code
CL
Property type
Retail properties
Property subtype
Retail space
APN
33-39-22-00002-0001-00002.0
APU
9223372036854775807

Description

This exceptional single-tenant retail property, located at 573 27th Ave SW in Vero Beach, Florida (zip code 32968), presents a lucrative investment opportunity. The property encompasses a 3,440 square foot building situated on a 0.33-acre lot. Currently operating as a thriving convenience store, the business boasts impressive monthly sales figures. The store generates approximately $35,000 in monthly grocery and beer sales, supplemented by a consistent $2,500 monthly lottery commission. Furthermore, the cash checking services yield nearly $80,000 per week in additional revenue. The property's current monthly rent is $4,000. The asking price includes $165,000 for business goodwill, with inventory priced at cost. This one-story building offers a prime location in the heart of Vero Beach, providing excellent visibility and accessibility. The property's strong financial performance, coupled with its desirable location, makes it an attractive investment for discerning buyers seeking a high-return opportunity in a stable market. The property is zoned for retail use and is ready for immediate occupancy. Serious inquiries are encouraged.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,643,365
    6.5%
    $1,516,953
    7%
    $1,408,599
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,843,611
    Geo Method
    $1,843,611
  • Alternative Use

    Use
    Valuation
    Residential
    $1,279,606
    Hospitality
    $1,172,112
    Educational
    $975,184
    Medical
    $1,008,722
    Retail
    $1,516,953
573 27Th Ave, Vero Beach, Florida

Location Insight

City
Vero Beach
County
Indian River
State
Florida
Latitude
27.5931
Longitude
-80.4146
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
$3,901
$61,200
$158,373
$219,573
-
$61,200
$158,373
$219,573

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