Vero Beach Investment
For Sale
Contact for pricing
1103 21st Street, Vero Beach, FL 32960
Fully leased building in Vero Beach with 8.5% ROI.
Property Size5,145 SF
Price / SF$329.45
Days on Market617
Property Features for 1103 21st Street
General Information
Standard status
Active
Size
5,145 SF
Property subtype
Business for Sale, Special Purpose, Retail
Zoning
C-1B
Building Details
Year Built
1930
Units
1
Listing Agency:
Compass Florida LLC
(561) 235-6801
Listed By:
Mark Barone · License #20017558
Source:
Crexi
Added: Dec 7, 2024
Changed: Aug 8
Last Checked: Aug 13 at 4:57AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass Florida LLC
Investment Insights
Based on property information with market context.
This free-standing building is located in Vero Beach, Florida, and offers an investment opportunity with an 8.5% ROI. The property is fully leased and features a restaurant tenant that has invested over $1 million in renovations. The building has a size of 5145 square feet.
Key Highlights
- Impressive 8.5% ROI
- Fully leased, free‑standing building
- Prime investment opportunity in Vero Beach, FL
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$78,982
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.66%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,579,640
$1.6M
Cap Rate 7%
$1,128,314
$1.1M
Cap Rate 9%
$877,578
$877.6K
Market Conditions
NOI Build-Up for 5,145 SF
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.
Gross rent
$114.2K $22.20/SF
− Vacancy
−$8.9K −$1.73/SF
EGI
$105.3K $20.47/SF
− OpEx
−$26.3K −$5.12/SF
NOI
$79.0K $15.35/SF
Area
Indian River County, FL
Vacancy
7.80%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,579,640
Cap Rate 7%
$1,128,314
Cap Rate 9%
$877,578
Alternative Uses
Best Use
Specialty Retail
$1.13M
$987.3K – $1.32M
NOI $78,982 @ 7.0% cap · market cap 4.66%
Second Best
Retail
$706.2K
$617.9K – $823.9K
NOI $49,431 @ 7.0% cap · market cap 2.92%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,397
Businesses Nearby
61k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 40%
Home Improvements & Furnishings 6%
McDonald's
Dining
26,873 visits/mo
0.4 miles
7-Eleven
Shops & Services
7,166 visits/mo
0.2 miles
Burger King
Dining
6,746 visits/mo
0.5 miles
PNC Bank
Shops & Services
6,335 visits/mo
0.2 miles
Chevron
Shops & Services
4,027 visits/mo
0.5 miles
Demographics for 32960, FL
21,522
Population
11,590
Households
1.9
Avg Household Size
48
Median Age
25%
College-Educated
90%
High-School Grad
11.1 sq mi
ZIP Area
1,939
Density / Sq Mi
$52,350
Median Household Income
$30,236
Median Earnings
$1,171
Median Rent
$254,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Fully leased building in Vero Beach with 8.5% ROI.
Where is this conventional restaurant located?
The property is located at 1103 21st Street Vero Beach, FL.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Impressive 8.5% ROI; Fully leased, free‑standing building; Prime investment opportunity in Vero Beach, FL
