Warehouse with Flex Office
For Sale
$259,000
654 2nd Ln, Vero Beach, FL 32962
Poured-concrete warehouse with a central-AC office, large garage door, high ceilings, and three parking spaces.
Property Size1,125 SF
Days on Market163
Property Features for 654 2nd Ln
General Information
Standard status
Active
Size
1,125 SF
Total Parking Spaces
3
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Building Size
1,125 SF
Year Built
1988
Stories
1
Listing Agency:
Alex MacWilliam, Inc. Real Estate
Listed By:
Michael Bottalico · License #0343147
(772) 538-3937
Source:
Elliman
Added: Apr 27
Changed: Oct 1
Last Checked: Oct 5 at 5:55PM
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 Alex MacWilliam, Inc. Real Estate
Investment Insights
Based on property information with market context.
This commercial warehouse includes flexible space and a dedicated office entry. The building is poured concrete and features electric storm shutters on the office entry. A large garage door and high ceilings provide for additional loft storage, and the office is equipped with central AC.
The property is located conveniently one block west of US 1. BikeScore is 45 (somewhat bikeable) and WalkScore is 35 (car-dependent). Three parking spaces are included with the building, and an adjacent unit is also available.
Whether you need warehouse storage with office functionality or adaptable interior flex space, this property offers a practical layout with the core warehouse features and an upgraded office environment.
The property is located conveniently one block west of US 1. BikeScore is 45 (somewhat bikeable) and WalkScore is 35 (car-dependent). Three parking spaces are included with the building, and an adjacent unit is also available.
Whether you need warehouse storage with office functionality or adaptable interior flex space, this property offers a practical layout with the core warehouse features and an upgraded office environment.
Key Highlights
- Commercial warehouse built in 1988 with poured concrete construction
- Office entry includes electric storm shutters
- Large garage door plus high ceilings offering additional loft storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,050
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$321,000
$321.0K
Cap Rate 7%
$229,286
$229.3K
Cap Rate 9%
$178,333
$178.3K
Market Conditions
NOI Build-Up for 1,125 SF
Gross rent
$26.3K $23.40/SF
− Vacancy
−$1.6K −$1.45/SF
EGI
$24.7K $21.95/SF
− OpEx
−$8.6K −$7.68/SF
NOI
$16.1K $14.27/SF
Area
Indian River County, FL
Vacancy
6.20%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$321,000
Cap Rate 7%
$229,286
Cap Rate 9%
$178,333
Alternative Uses
Best Use
Flex RnD
$229.3K
$200.6K – $267.5K
NOI $16,050 @ 7.0% cap · market cap 6.20%
Second Best
Warehouse
$129.5K
$113.3K – $151.1K
NOI $9,067 @ 7.0% cap · market cap 3.50%
Theoretical Best
Specialty Retail
$246.7K
$215.9K – $287.8K
NOI $17,270 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
532
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32962, FL
26,011
Population
12,705
Households
2
Avg Household Size
49
Median Age
25%
College-Educated
90%
High-School Grad
12.5 sq mi
ZIP Area
2,081
Density / Sq Mi
$65,137
Median Household Income
$32,617
Median Earnings
$1,184
Median Rent
$247,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
- Express Catering Co Inc — 396 11th Ave, Vero Beach, FL 32962
- Cheers & Chasers Mobile Bar — 4th Ln, Vero Beach South, FL 32962
Frequently Asked Questions
What type of property is this?
Flex space - Poured-concrete warehouse with a central-AC office, large garage door, high ceilings, and three parking spaces.
Where is this flex space located?
The property is located at 654 2nd Ln Vero Beach, FL.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Commercial warehouse built in 1988 with poured concrete construction; Office entry includes electric storm shutters; Large garage door plus high ceilings offering additional loft storage
