2855 Ocean DrVero Beach, FL 32963

Property Details for 2855 Ocean Dr

Year built

1980

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.56 AC

Property size (Sq ft)

15,112 SF

Zone code

C-1A

Property type

Retail properties

Property subtype

Retail space

APN

32-40-32-00014-0020-00004.1

APU

9223372036854775807

Description

This exceptional 744-square-foot office space is located in the Portales de Vero building at 2855 Ocean Drive, Vero Beach, Florida, 32963. Situated in a prime beachside location, this second-floor unit (D4) offers unparalleled convenience with easy walking access to the beach, restaurants, and shopping. The building itself is a two-story structure combining retail and office spaces, built in 1980. This single-tenant space is part of a larger 45,892-square-foot building, zoned C-1A for Tourist Commercial Services. The unit benefits from abundant parking, including both a private lot and ample street parking. The lease price is $1,488 per month, plus sales tax, which includes common area maintenance (CAM) charges. Utilities include city water, sewer, and FPL electricity. The minimum divisible space is 800 square feet, with a maximum contiguous space of 800 square feet. This presents a unique opportunity for businesses seeking a highly desirable beachfront location with excellent accessibility and ample parking. The property's zoning allows for a variety of commercial uses.

• CAP approach

  CAP return

  Valuation

  6%

  $8,656,063

  6.5%

  $7,990,212

  7%

  $7,419,482

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,707,544

  Geo Method

  $9,707,544

• Alternative Use

  Use

  Valuation

  Residential

  $6,740,042

  Hospitality

  $6,173,843

  Educational

  $5,136,565

  Medical

  $5,313,219

  Retail

  $7,990,212

Location Insight

City

Vero Beach

County

Indian River

State

Florida

Latitude

27.6483

Longitude

-80.3558

CBSA code

42680

CBSA name

SEBASTIAN-VERO BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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