620 Old Dixie HwyVero Beach, FL 32962

Property Details for 620 Old Dixie Hwy

Year built

1985

Property size (Sq ft)

1,500 SF

Property type

Office properties

APN

33-40-19-00010-0000-00001.0

APU

9223372036854775807

Description

This exceptional commercial property, Blue Heron Plaza, presents a unique investment opportunity in Vero Beach, Florida. Situated at 620 Old Dixie Hwy SW, this complex boasts a total of 20,880 square feet of space, strategically divided into two separate buildings, each encompassing 10,440 square feet. Built in 1985, the single-story structures are situated on a 1.55-acre lot within the CL Limited Commercial District of Indian River County. The property currently features sixteen individual suites, ideal for multiple tenants. Ample parking is provided with 110 spaces available for tenants and visitors. The buildings benefit from 100% central air conditioning, ensuring year-round comfort. The property's location is north of the intersection of Oslo Road and Dixie Highway, offering excellent visibility and accessibility. Currently, one large suite of 8,600 square feet is available for lease. This property is zoned for limited commercial use, making it suitable for a variety of office-based businesses. The property's size, location, and amenities make it an attractive option for investors and businesses seeking a well-established presence in the Vero Beach market. The property's location in the Vero Beach submarket provides easy access to local amenities and a strong workforce.

• CAP approach

  CAP return

  Valuation

  6%

  $584,358

  6.5%

  $539,408

  7%

  $500,879

• Comparable approach

  Method

  Valuation

  Relative Method

  $382,365

  Geo Method

  $382,365

• Alternative Use

  Use

  Valuation

  Residential

  $668,866

  Hospitality

  $612,677

  Educational

  $509,740

  Medical

  $527,271

  Retail

  $792,929

Location Insight

City

Vero Beach

County

Indian River

State

Florida

Latitude

27.5919

Longitude

-80.3807

CBSA code

42680

CBSA name

SEBASTIAN-VERO BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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