Listing Agency: Mills Commercial Real Estate Group LLC Show Phone

Listed By: Bill Mills · License #3304531 Show Phone

Source: Moodyscre

Added: Sep 11, 2025 Changed: Aug 8 Last Checked: Jul 28 at 10:59AM

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Investment Insights

Based on property information with market context.

This commercial building is strategically located in Fellsmere, Florida, offering an opportunity for business development or investment. The property is suitable for retail, office, or mixed-use development. It is located minutes from I-95 and major regional corridors.

Key Highlights

• Strategic location in the growing market of Fellsmere, Florida.
• Suitable zoning for retail, office, or mixed‑use development.
• Minutes from I‑95 and major regional corridors.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,017

Cap Rate

3.56%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$640,340 $640.3K

Cap Rate 7%

$457,386 $457.4K

Cap Rate 9%

$355,744 $355.7K

Market Conditions

NOI Build-Up for 2,992 SF

Gross rent

$52.1K $17.40/SF

− Vacancy

−$9.4K −$3.13/SF

EGI

$42.7K $14.27/SF

− OpEx

−$10.7K −$3.57/SF

NOI

$32.0K $10.70/SF

Area

Indian River County, FL

Vacancy

18.00%

Lease Rate

$17.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$640,340

Cap Rate 7%

$457,386

Cap Rate 9%

$355,744

Alternative Uses

Best Use

Office B

$457.4K

$400.2K – $533.6K (±1% cap)

NOI $32,017 @ 7.0% cap · market cap 3.56%

Second Best

Retail

$410.7K

$359.3K – $479.1K (±1% cap)

NOI $28,746 @ 7.0% cap · market cap 3.19%

Theoretical Best

Specialty Retail

$656.2K

$574.1K – $765.5K (±1% cap)

NOI $45,931 @ 7.0% cap · market cap 5.10%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Willy's Bar & Grill Bar & Pub

Suggested Use

Top Pick Real Estate Agency Building Supply Law Firm Hair Salon HVAC Service Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

210

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this retail space located? What is the asking price? Find similar properties What are key features of this property?

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Agricultural Land Tract

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Specialty Property For Sale

8590 130th Avenue, Fellsmere, FL 32948

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Frequently Asked Questions

What type of property is this?

Retail space - Commercial building in Fellsmere, Florida, suitable for retail/office.

Where is this retail space located?

The property is located at 130 N Broadway St Fellsmere, FL.

What is the asking price?

The asking price for this property is $900,000.

What are key features of this property?

This property features: Strategic location in the growing market of Fellsmere, Florida.; Suitable zoning for retail, office, or mixed‑use development.; Minutes from I‑95 and major regional corridors.