Freestanding Two-Story Office
1708 21st Street Vero Beach, FL 32960
For Sale
Under Contract
$2,199,000
SINGLE_FAMILY - Vero Beach, FL
Property Size8,802 SF
Lot Size0.43 Acres
Price / SF$249.83
Days on Market116
Property Features for 1708 21st Street
General Information
Property type
Residential
Property subtype
Office
Zoning
, DTW
Interior features
Elevator
Exterior features
SprinklerIrrigation
Accessibility
Accessible Elevator Installed
Standard status
Active Under Contract
APN
33390200001038000006.0
Lot size
0.43 Acres
Taxes and HOA fees
Tax Description
VERO BEACH,CITY OF ORIGINAL TOWN BLK 38 LOTS 6 & 7 PBS 2-12
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1983
Floors in Building
2
Flooring type
Carpet, Terrazzo, Tile
Building materials
Block, Frame, Concrete, Steel
Roof type
Metal
Listing Agency:
Alex MacWilliam, Inc.
(772) 231-6509
Listed By:
T.P. Kennedy · License #3377487
(772) 473-2521
Added: Apr 6
Changed: Jul 28
Last Checked: Jul 30 at 8:06AM
MLS# 296656
Copyright © 2026 Realtors Association of Indian River County. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding, two-story office building is elevator-served and features a flexible layout. The property is currently configured as a single-tenant office, with the potential to be divided into 2–3 tenant spaces. Construction is block and frame, with a standing seam metal roof, and the offering includes a detached storage/garage of approximately 600 SF.
Set on a 0.43-acre corner lot in downtown Vero Beach within a redevelopment district, the building is positioned near the courthouse and business corridor. Covered and uncovered parking are available on site.
Additional site features include irrigation/well. The building’s combination of visibility and adaptable configuration supports a range of professional and commercial uses, including office-oriented and service concepts.
Set on a 0.43-acre corner lot in downtown Vero Beach within a redevelopment district, the building is positioned near the courthouse and business corridor. Covered and uncovered parking are available on site.
Additional site features include irrigation/well. The building’s combination of visibility and adaptable configuration supports a range of professional and commercial uses, including office-oriented and service concepts.
Key Highlights
- +/- 8,802 SF, two‑story freestanding office building with an elevator
- 0.43‑acre corner lot in downtown Vero Beach near the courthouse and business corridor
- Currently single‑tenant but could be divided into 2–3 tenants
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $221.8k | $25.20 |
| − Vacancy | −$23.3k | −$2.65 |
| EGI | $198.5k | $22.55 |
| − OpEx | −$79.4k | −$9.02 |
| NOI | $119.1k | $13.53 |
8,802 SF · lease $25.20/SF/yr · vacancy 10.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$1.70M
$1.49M – $1.99M
NOI $119,112 @ 7.0% cap · market cap 5.42%
Second Best
Office B
$1.35M
$1.18M – $1.57M
NOI $94,190 @ 7.0% cap · market cap 4.28%
Theoretical Best
Specialty Retail
$1.93M
$1.69M – $2.25M
NOI $135,122 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Elevator-served two-story office building on a corner lot with parking and a detached storage/garage.
Where is this office building located?
The property is located at 1708 21st Street Vero Beach, FL.
What is the asking price?
The asking price for this property is $2,199,000.
What are key features of this property?
This property features: +/- 8,802 SF, two‑story freestanding office building with an elevator; 0.43‑acre corner lot in downtown Vero Beach near the courthouse and business corridor; Currently single‑tenant but could be divided into 2–3 tenants
