Multi-Unit Office/Retail
For Sale
Contact for pricing
3212 - 3308 Aviation Blvd, Vero Beach, FL 32960
Leasehold investment includes two buildings with office and retail space, zoned ALI-1, with frontage on Aviation Blvd and Airport Drive.
Property Size10,300 SF
Lot Size1.44 Acres
Days on Market125
Property Features for 3212 - 3308 Aviation Blvd
General Information
Standard status
Active
Size
10,300 SF
Lot size
1.44 Acres
Property subtype
Retail, Office
Zoning
ALI-1
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Cap Rate
10.9%
Building Details
Tenancy
Multi
Listing Agency:
Lambert Commercial Real Estate Inc
(772) 778-2334
Listed By:
Ron Lambert · License #FL 531778
Source:
Crexi
Added: Apr 10
Changed: Aug 8
Last Checked: Jul 21 at 1:11AM
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 Lambert Commercial Real Estate Inc
Investment Insights
Based on property information with market context.
This leasehold investment opportunity includes two separate buildings. Airport III offers 6,300 SF in a 7-unit office/retail configuration, while Airport IV provides 4,000 SF in a single-unit office building. The Airport III site has 277.41 feet of frontage on Aviation Blvd with 152.25 feet of depth, and the Airport IV site has 165.17 feet of frontage on Airport Drive with 222.09 feet of depth.
Both properties are zoned (ALI-1) Airport Light Industrial. City water, sewer, and electric are provided. The 2016 real estate tax figures are $4,003.65 for Airport III and $2,686.59 for Airport IV. Airport III is currently 87% occupied with projected NOI of $19,500 (based on 5% vacancy) and a reported cap rate of 10.9% (based on 5% vacancy). Airport IV is currently 100% occupied with projected NOI of $12,700 (based on 5% vacancy). Sale price is $295,000, and the price and cap rate include the Airport IV property, contingent on a new 30-year lease.
Both properties are zoned (ALI-1) Airport Light Industrial. City water, sewer, and electric are provided. The 2016 real estate tax figures are $4,003.65 for Airport III and $2,686.59 for Airport IV. Airport III is currently 87% occupied with projected NOI of $19,500 (based on 5% vacancy) and a reported cap rate of 10.9% (based on 5% vacancy). Airport IV is currently 100% occupied with projected NOI of $12,700 (based on 5% vacancy). Sale price is $295,000, and the price and cap rate include the Airport IV property, contingent on a new 30-year lease.
Key Highlights
- Leasehold investment with two buildings: Airport III (6,300 SF, 7‑unit office/retail) and Airport IV (4,000 SF, 1‑unit office).
- Airport III sits on 0.88 acres with 277.41 ft of frontage on Aviation Blvd; Airport IV sits on 0.56 acres with 165.17 ft of frontage on Airport Drive.
- Zoned ALI‑1 (Airport Light Industrial) and served by city water, sewer, and electric.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
256
Businesses Nearby
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Leasehold investment includes two buildings with office and retail space, zoned ALI-1, with frontage on Aviation Blvd and Airport Drive.
Where is this office building located?
The property is located at 3212 - 3308 Aviation Blvd Vero Beach, FL.
What are key features of this property?
This property features: Leasehold investment with two buildings: Airport III (6,300 SF, 7‑unit office/retail) and Airport IV (4,000 SF, 1‑unit office).; Airport III sits on 0.88 acres with 277.41 ft of frontage on Aviation Blvd; Airport IV sits on 0.56 acres with 165.17 ft of frontage on Airport Drive.; Zoned ALI‑1 (Airport Light Industrial) and served by city water, sewer, and electric.
