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    The Largest CRE Database in the US with Over 1 Million Listings

    Bill Mills, Vero Beach, FL

    License ID: 3304531
    Mills Commercial RE Group LLC
    Years of Experience
    14

    Contact details

    Phone:
    (772) 562-0018

    Performance

    Listings
    14
    Total transactions
    13
    Total transactions amount
    $13M
    Price range
    $667k - 1.5M
    Average price
    $1M

    Listings

    For Sale (10)

    View map
    • $1,300,000

      Commercial Land on US Highway

      Commercial land available on US Highway in Vero Beach.
      8315 Us Highway 1, Vero Beach, FL 32960
      View Details
    • $2,000,000
      8,500 SF

      Industrial Property with Ample Parking

      Well-maintained industrial property featuring a concrete parking lot.
      181 Sebastian Blvd, Sebastian, FL 32958
      View Details
    • $550,000

      Commercial Land on US Highway

      Commercial land available on US Highway 1 in Sebastian, FL.
      11455 Us Highway 1, Sebastian, FL 32958
      View Details
    • $285,000

      Commercial Lot on US #1

      Commercial land for sale on US #1 in Vero Beach.
      2083 S Us Highway 1, Vero Beach, FL 32962
      View Details
    • $875,000

      Prime Commercial Land on US#1

      Commercial land with 220 feet frontage on US #1.
      5725 Us Highway 1, Vero Beach, FL 32967
      View Details
    • $2,800,000

      Vero Beach Commercial Land Parcels

      Two commercial parcels totaling 12 acres in Vero Beach.
      7255 Us Highway 1, Vero Beach, FL 32967
      View Details
    • $1,200,000

      Commercial Land For Sale

      Commercial land available for sale with build-to-suit options.
      580 Us Highway 1, Vero Beach, FL 32962
      View Details
    • $450,000

      Vero Beach Commercial Land

      Commercial land available in Vero Beach, Florida.
      1425 S Us Highway 1, Vero Beach, FL 32960
      View Details
    • $2,500,000

      Expansive Parcel Near Indian River

      17.88-acre parcel near Indian River Mall, Publix, and Target.
      5055 8Th St, Vero Beach, FL 32968
      View Details
    • $6,000,000

      Established Retail Strip Center

      Well-located retail strip center on a primary commercial corridor.
      4425 20Th St, Vero Beach, FL 32966
      View Details

    For Lease (4)

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    • $14 SF/Yr
      15,500 SF

      Retail Space on State Road

      Retail space available in renovated Vero Beach shopping center.
      4425-4445 20Th St, Vero Beach, FL 32966
      View Details
    • Contact for pricing

      Commercial Out-Parcels Available For Lease

      Commercial out-parcels for lease near major retailers.
      4050 9Th St SW, Vero Beach, FL 32962
      View Details
    • $2.00 SF/Yr

      Commercial Land for Lease

      Land available for lease, build to suit options.
      7685 Us Highway 1, Vero Beach, FL 32960
      View Details
    • $7,000 /Mo
      4,274 SF

      Vero Beach Automotive Retail Space

      Automotive showroom and service garage for lease in Vero Beach.
      1060 21St St, Vero Beach, FL 32960
      View Details

    Leases and Sales on Map

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    Bill Mills, Vero Beach, FL
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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