Vero Beach Packing
625 66th Avenue SW Vero Beach, FL 32968
625 66th Avenue SW, Vero Beach, FL, 32968
$8,900,000
For Sale
$8,900,000
Expansive 87,079 SF fruit packing facility on forty acres.
Property Size87,079 SF
Lot Size40.00 Acres
Price / SF$102.21
Days on Market471
Property Features for 625 66th Avenue SW
General Information
- Standard status
- Active
- Size
- 87,079 SF
- Lot size
- 40.00 Acres
- Property subtype
- IND, SPEC-OTH
Building Details
- Year Built
- 1994
Listing Agency
(863) 648-1528
Listed by
Jeff Cusson
(863) 648-1528
Source
Realnex
Added: Apr 3, 2025 Checked: Jul 6 at 12:20 pm
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 Jeff Cusson
Investment Insights
Based on property information with market context.
Located on nearly forty acres with A-1 zoning, the property features an 87,079 SF fruit packing facility, offering a prime investment opportunity with diverse potential uses. Constructed in 1994, the well-maintained facility includes 4,360 SF of office space and a warehouse area with 31-foot ceilings and a monolithic slab foundation. It is equipped with 9 dock-high and 4 ground-level bay doors, along with facilities to accommodate more than 100 employees. A nearly 10,000 SF cooler with 20-foot ceilings provides storage for 780 pallets or 2,000,000 lbs. of product. The property is located in Vero Beach, just a quarter mile north of Oslo Road and less than three miles from the I-95 interchange, which is currently under construction and scheduled for completion in the Summer of 2027. Recent improvements include the 2015 installation of a cooling and storage room measuring 141’ x 70’ x 20’ high, with 2- 9’ x 10’ high thermal rolling doors and 2 personnel doors, self-supported with interior structural steel racking. The storage room has a capacity of 780 pallets and a storage capacity of 2,000,000 lbs. at 40 degrees F. In 2017, a GENERAC 150 kW natural gas Model QT150 liquid-cooled 277/480V 3-phase generator was installed. Extensive remodeling in 2018 added office space, a new front façade, double impact PGT office windows, and new LED packinghouse lighting. In 2019, the packinghouse roof was recoated with PremiSEAL 60, a spray polyurethane foam, with Uniflex Acrylic coating. Oslo Road is currently undergoing a $96 million construction project to widen it to four lanes and add a new I-95 interchange. The County recently approved expansion of the Urban Service area to include the property; however, they will not grant rezoning until that process is completed next year.
Key Highlights
- Expansive 87,079 SF fruit packing facility on nearly 40 acres with A‑1 zoning.
- Strategic location less than 3 miles from the I‑95 interchange (under construction, completion Summer 2027) and close proximity to Oslo Road.
- Well‑maintained facility featuring a 10,000 SF cooler with 20' ceilings (780 pallet capacity/2,000,000 lbs), 4,360 SF of office space, and facilities for over 100 employees.
Local Financial Insights For Warehouse
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 | $867.3k | $9.96 |
| − Vacancy | −$41.6k | −$0.48 |
| EGI | $825.7k | $9.48 |
| − OpEx | −$123.9k | −$1.42 |
| NOI | $701.8k | $8.06 |
87,079 SF · lease $9.96/SF/yr · vacancy 4.80% · expense 15.00%
Alternative Uses
Best Use
Office B
$13.31M
$11.65M – $15.53M
NOI $931,832 @ 7.0% cap · market cap 10.47%
Second Best
Warehouse
$10.03M
$8.77M – $11.70M
NOI $701,825 @ 7.0% cap · market cap 7.89%
Theoretical Best
Specialty Retail
$19.10M
$16.71M – $22.28M
NOI $1,336,776 @ 7.0% cap · market cap 15.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Premier Citrus Packers
Agricultural Supply
Similar For Sale Nearby
FAQs
What type of property is this?
Warehouse - Expansive 87,079 SF fruit packing facility on forty acres.
Where is this warehouse located?
The property is located at 625 66th Avenue SW Vero Beach, FL.
What is the asking price?
The asking price for this property is $8,900,000.
What are key features of this property?
This property features: Expansive 87,079 SF fruit packing facility on nearly 40 acres with A‑1 zoning.; Strategic location less than 3 miles from the I‑95 interchange (under construction, completion Summer 2027) and close proximity to Oslo Road.; Well‑maintained facility featuring a **10,000 SF cooler with 20' ceilings (780 pallet capacity/2,000,000 lbs)**, 4,360 SF of office space, and facilities for over 100 employees.