Vero Beach Professional Office Building

1140 Royal Palm Boulevard, Vero Beach, FL 32960

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For Sale

$599,000

2400 SF professional office near downtown, convert to duplex.

Type:Commercial/Industrial

Property size:

2,400 SF

Lot size:

0.28 Acres

Price / SF:

$249/SF

HighLights

Prime location: Close to downtown, courthouse, and beaches.
Building opportunity: Zoned for professional services with potential for conversion to a duplex (with approval).
Two separate sides: West side is a blank slate ready for customization.
Ample parking: 16 spaces in front and 2 in back with a roll‑up door.
Well‑maintained: One‑owner property used as a dentist office for 38 years.
Additional land available: Adjacent .25‑acre lot for sale separately.

We can help!

Listing Contact

Christine M Hughes

For Sale

$599,000

2400 SF professional office near downtown, convert to duplex.

Type:Commercial/Industrial

Property size:

2,400 SF

Lot size:

0.28 Acres

Price / SF:

$249/SF

Added:: Aug 20, 2024
Days on Market:: 664
Last Refresh:: May 19 at 11:40 pm

Property Features for 1140 Royal Palm Boulevard

General Information

Standard status: Active
Size: 2,400 SF
Lot size: 0.28 Acres
Property subtype: Commercial/Industrial

Building Details

Year Built: 1986

We can help!

Listing Contact

Christine M Hughes

Listing agent Christine M Hughes License #0704916

Listing office Dale Sorensen Real Estate Inc.

Listing date Aug 20, 2024

Source Exitrealty

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 Dale Sorensen Real Estate Inc.

HighLights

Prime location: Close to downtown, courthouse, and beaches.
Building opportunity: Zoned for professional services with potential for conversion to a duplex (with approval).
Two separate sides: West side is a blank slate ready for customization.
Ample parking: 16 spaces in front and 2 in back with a roll‑up door.
Well‑maintained: One‑owner property used as a dentist office for 38 years.
Additional land available: Adjacent .25‑acre lot for sale separately.

Overview

This 2400 square foot property, used as a dentist office for 38 years by one owner, presents a building opportunity near downtown, the courthouse, and beaches. The property is divided into two separate sides. The west side is a blank slate, ready to be fitted out. The east side is currently a doctor's office. Zoned for professional services, the building department indicates the property could be converted to a duplex with approval. There are 16 parking spaces in the front and 2 in the back, along with a roll-up door. An adjacent 0.25-acre lot is also for sale.

Local Financial Insights For Healthcare Medical

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$60.5k	$25.20
− Vacancy	−$6.4k	−$2.65
EGI	$54.1k	$22.55
− OpEx	−$21.7k	−$9.02
NOI	$32.5k	$13.53

2,400 SF · lease $25.20/SF/yr · vacancy 10.50% · expense 40.00%

Alternative Uses

Best Use

Healthcare Medical

$464.0K

$406.0K – $541.3K (±1% cap)

NOI $32,478 @ 7.0% cap · market cap 5.42%

Second Best

Multifamily LT 5

$395.9K

$346.4K – $461.9K (±1% cap)

NOI $27,712 @ 7.0% cap · market cap 4.63%

Theoretical Best

Specialty Retail

$526.3K

$460.5K – $614.1K (±1% cap)

NOI $36,843 @ 7.0% cap · market cap 6.15%

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

Property Profile Location Intelligence

Current Use by Public Records

Medical Office Space

Suggested Use

Similar Places Nearby

Pet Medical Center of Vero Beach (WESTSIDE ANIMAL HOSPITAL) — 1795 10th Ave, Vero Beach, FL 32960
Community Veterinary Clinic — 1849 20th St, Vero Beach, FL 32960
Dr Dan's Animal Hospital — 1624 14th Ave, Vero Beach, FL 32960
Treasure Coast Animal Rehabilitation & Fitness — 825 18th St Suite C1, Vero Beach, FL 32960
Veterinary Medical Center of Indian River County — 1833 US-1, Vero Beach, FL 32960

Location Insight

Map
Local Demand

City: Vero Beach
County: Indian River
State: Florida
Longitude: -80.3964
Latitude: 27.6425

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For sale
Medical Office Space
FL
Vero Beach
32960
1140 Royal Palm Boulevard

What type of property is this?

Medical Office Space - 2400 SF professional office near downtown, convert to duplex.

Where is this medical office space located?

The property is located at 1140 Royal Palm Boulevard Vero Beach, FL.

What is the asking price?

The asking price for this property is $599,000.

What are key features of this property?

This property features: Prime location: Close to downtown, courthouse, and beaches.; Building opportunity: Zoned for professional services with potential for conversion to a duplex (with approval).; Two separate sides: West side is a blank slate ready for customization.