Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    637 2Nd Ln E Vero Beach, FL 32962

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $211,000

    900 sq ft commercial condo with versatile space.

    Property Features for 637 2Nd Ln E

    General Information

    Property type
    Industrial
    Standard status
    Active

    Building Details

    Year built
    1988

    We can help!

    Listing Contact
    T.p. Kennedy
    Source: Elliman

    Listing Agency: Alex MacWilliam, Inc. Real Estate Listing Agent: T.p. Kennedy

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Commercial Condo Flexible Use Space

    This commercial condo offers 900 sq ft of flexible space, constructed with solid concrete block. The unit features a roll-up garage door and two personnel doors. It is equipped with separately metered FPL power. The interior layout includes a bathroom and an office area. Zoned Commercial Heavy, the unit is suitable for various uses such as auto repair, storage for boats and RVs, office space, contractor trades, or flex warehouse needs. It is suitable for both owner-users and investors. The condo fees are $420 per year.
    Location Intelligence

    Current Use by Public Records

    Ronald Smith Classic ... Car Dealership Vista-Lite Dome Ceilings Hardware & Home Improvement

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Daycare Center Building Supply

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

    Similar Places Nearby

    Express Catering Co Inc, Cheers & Chasers Mobile Bar

    Location Insight

    • Map
    • Local Demand
    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.386209
    Latitude
    27.6060132

    Nearby Similar for Sale

    • New
      $900,000
      247,420 SF

      Vero Beach Land with Building

      5+/- acre lot with 10,575 sq ft building.
      6205 65Th St, Vero Beach, FL 32967
      View Details
    • $799,000
      0.59 Acres

      Vero Beach Investment Opportunity

      Investment opportunity in prime location near beaches and shopping plaza.
      148 Vista Royale Sq, Vero Beach, FL 32962
      View Details
    • $79,000
      4,600 SF

      Established Business in Vero Beach

      Turnkey business opportunity with vintage decor and furnishings in Florida.
      1642 Old Dixie Hwy, Vero Beach, FL 32960
      View Details
    • $3,000,000
      6,900 SF

      Vero Beach Restaurant Building

      High-visibility restaurant building with exceptional commercial opportunity in Vero Beach.
      3700 9Th St SW, Vero Beach, FL 32968
      View Details
    • $1,100,000
      950 SF

      Turnkey Cafe/Restaurant Opportunity

      Fully equipped cafe with expansive outdoor seating in Vero Beach.
      3700 9Th St SW, Vero Beach, FL 32968
      View Details
    • New
      $349,000

      Unique Upgraded Storage Unit

      Luxury storage unit with upgrades and high hurricane standards.
      956 12Th St, Vero Beach, FL 32960
      View Details
    • $79,000
      11,163 SF

      Established Business in Vero Beach

      Turnkey business with vintage decor, furnishings, and hand-crafted items.
      1642 Old Dixie Hwy, Vero Beach, FL 32960
      View Details
    • Contact for pricing

      Vero Beach Retail Suite

      Two-room retail suite with private bath and parking.
      4560 Us Highway 1, Vero Beach, FL 32967
      View Details
    • $110,000

      Profitable Dual-Revenue Business Opportunity

      Established pet grooming and aquatics retail business for sale.
      1135 Us Highway 1, Vero Beach, FL 32960
      View Details
    • $7,900,000
      90,000 SF

      Vero Beach Industrial Property

      16.56-acre industrial property with 90,000+/- sq ft warehouse.
      2600 45Th St, Vero Beach, FL 32967
      View Details
    • New
      $725,000
      1,200 SF

      Vero Beach Commercial Building Space

      Commercial building with excellent exposure and expansion potential.
      866 11Th Ct SW, Vero Beach, FL 32962
      View Details
    • $399,999

      Vero Beach Duplex For Sale

      Refreshed duplex in downtown Vero Beach with fenced yards.
      1246-1248 17Th Pl, Vero Beach, FL 32960
      View Details

    FAQs

    What type of property is this?
    Flex space - 900 sq ft commercial condo with versatile space.
    Where is this flex space located?
    The property is located at 637 2Nd Ln E Vero Beach, FL.
    What is the asking price?
    The asking price for this property is $211,000.
    What are key features of this property?
    This property features: - Flexible use space: Zoned commercial heavy, suitable for auto repair, storage, office, contractor trades, or flex warehouse.; - Roll-up garage door provides easy access.; - Separately metered FPL power allows for independent utility management.
    (772) 473-2521
    Request Owner's contact information
    637 2Nd Ln E Vero Beach, FL 32962
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    637 2Nd Ln E
    Vero Beach, FL 32962
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    637 2Nd Ln E Vero Beach, FL 32962
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    T.p. Kennedy
    Real Estate License ID: 3377487
    (772) 473-2521 (772) 231-6509
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!