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    Vero Beach Commercial Space Title is generated by Realmo AI

    8801 20 Street, Vero Beach, FL 32966

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    For Lease
    $31 SF/Yr $6,820/Mo (calc)

    COMMERCIAL - Vero Beach, FL

    Type:Retail
    Property size:
    2,640 SF
    Added:
    Aug 28, 2025
    Days on Market:
    278
    Last Refresh:
    Jun 1 at 3:06 pm

    Property Features for 8801 20 Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Zoning
    CG,
    Parking
    20
    Standard status
    Active
    APN
    33380200001012000003.0
    Size
    2,640 SF

    Taxes and HOA fees

    Tax Description
    INDIAN RIVER FARMS CO SUB PBS 2-25 PART OF TRACT 12 DESC AS FOLL: BEG AT PT ON E LINE OF TRACT 12 86.45 FT S OF N LINE OF TRACT 12 SAID PT BEING ON S R/W LINE OF SR 60; RUN S 00 DEG 38 MIN 38 SEC W 133.50 FT; RUN N 89 DEG 35 MIN 10 SEC W 100 FT; RUN 00 DE

    Utilities

    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1975
    Floors in Building
    1
    Flooring type
    Concrete
    Building materials
    Block, Concrete

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    Listing Contact
    T.P. Kennedy

    Listing agent T.P. Kennedy License #3377487

    Listing office Alex MacWilliam, Inc. 2901 Ocean Dr, Vero Beach, FL

    Listing date Aug 28, 2025

    MLS# 296279

    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.

    HighLights

    • Prime State Road 60 Frontage, just 1/4 Mile east of I‑95
    • Major exterior renovations complete: new facade, landscaping, lighting, resurfaced parking lot, and monument signage
    • Interior gutted and ready for new concept with buildout allowance offered
    • Zoning permits medical, retail, or office use
    • 2,640 SF space
    • 400‑amp, 3‑phase electric service

    Overview

    This commercial space, located in Vero Beach, Florida, offers 2,640 square feet of area. Situated on State Road 60, it is a quarter mile east of I-95. The property has undergone major exterior renovations, including a new facade, landscaping, lighting, a resurfaced parking lot, and monument signage. The interior has been gutted and is ready for a new concept, with a buildout allowance offered to approved tenants. The property features 400-amp, 3-phase electric service. The zoning permits medical, retail, or office use. Formerly a convenience store, deed restrictions are in place that prohibit grocery, food or beverage distributors, auto parts, vape, or tobacco sales.
    Property Profile Location Intelligence

    Current Use by Public Records

    West End Grooming Pet Grooming Service ATM (7-Eleven) Atm

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.5083514
    Latitude
    27.6386073

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    FAQs

    What type of property is this?
    Retail space - Renovated 2,640 SF space near I-95 in Vero Beach.
    Where is this retail space located?
    The property is located at 8801 20 Street Vero Beach, FL.
    What is the lease rate?
    The lease rate is $31 SF/Yr.
    What are key features of this property?
    This property features: Prime State Road 60 Frontage, just 1/4 Mile east of I‑95; Major exterior renovations complete: new facade, landscaping, lighting, resurfaced parking lot, and monument signage; Interior gutted and ready for new concept with buildout allowance offered
    (772) 473-2521
    We can help!
    Listing Contact
    T.P. Kennedy
    Real Estate License ID: 3377487
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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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