Historic Mixed-Use Hospitality
For Sale
$1,395,000
1443 19th Place, Vero Beach, FL 32960
1918 historic estate offers renovated accommodations, a communal kitchen, and connected retail/event space with dedicated parking.
Property Size4,873 SF
Price / SF$286.27
Days on Market137
Property Features for 1443 19th Place
General Information
Standard status
Active
Size
4,873 SF
Total Parking Spaces
10
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$7,526
Amenities
fully equipped communal kitchen
retail/event space
wraparound porch
detached studio
washer/dryer
3
10 Parking Spaces.
Building Details
Year Built
1918
Year Renovated
2022
Listing Agency:
Ohana Real Estate Co.
(772) 268-4220
Listed By:
Allen Kavanaugh · License #3276192
Source:
Xome
Added: Apr 11
Changed: Aug 23
Last Checked: Aug 24 at 3:42AM
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 Ohana Real Estate Co.
Investment Insights
Based on property information with market context.
Built in 1918 and renovated in 2022, this historic estate combines residential and commercial features designed for hospitality or retail use. The property includes eight guest bedrooms and 6.5 baths, with some suites offering kitchenettes for weekly or monthly guests. A large, fully equipped communal kitchen supports guest service, and the home’s interior includes newly updated finishes such as a brand-new roof and insulation, new windows (upstairs), extensive termite treatment with warranty, refinished hardwood floors (upstairs), and new bathrooms.
The layout also includes a charming two-bedroom, one-bath downstairs apartment that can function as an owner’s suite or rental unit. An expansive 400-square-foot retail/event space with a half bath is seamlessly connected to a 1,500-square-foot wraparound porch, and there is a 900-square-foot detached studio with upgraded electrical, plumbing, insulation, drywall, full bath, and washer/dryer.
For parking, the property provides dedicated parking for 10 vehicles, along with street parking and a public lot across the street. The property is zoned mixed-use, supporting a range of residential and commercial possibilities.
The layout also includes a charming two-bedroom, one-bath downstairs apartment that can function as an owner’s suite or rental unit. An expansive 400-square-foot retail/event space with a half bath is seamlessly connected to a 1,500-square-foot wraparound porch, and there is a 900-square-foot detached studio with upgraded electrical, plumbing, insulation, drywall, full bath, and washer/dryer.
For parking, the property provides dedicated parking for 10 vehicles, along with street parking and a public lot across the street. The property is zoned mixed-use, supporting a range of residential and commercial possibilities.
Key Highlights
- 1918 historic estate renovated in 2022 with brand‑new roof and insulation, new windows (upstairs), and extensive termite treatment with warranty
- Zoned mixed‑use, offering residential and commercial flexibility for uses such as a bed & breakfast, restaurant, wine bar, or boutique hotel
- 8 bedrooms and 6.5 baths, including suites with kitchenettes for weekly or monthly guests; former layout reconfigured to enhance guest accommodations
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,817
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$936,340
$936.3K
Cap Rate 7%
$668,814
$668.8K
Cap Rate 9%
$520,189
$520.2K
Market Conditions
NOI Build-Up for 4,873 SF
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.
Gross rent
$73.1K $15.00/SF
− Vacancy
−$6.2K −$1.28/SF
EGI
$66.9K $13.73/SF
− OpEx
−$20.1K −$4.12/SF
NOI
$46.8K $9.61/SF
Area
Indian River County, FL
Vacancy
8.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$936,340
Cap Rate 7%
$668,814
Cap Rate 9%
$520,189
Alternative Uses
Best Use
Retail
$668.8K
$585.2K – $780.3K
NOI $46,817 @ 7.0% cap · market cap 3.36%
Second Best
Hotel Hospitality
$305.0K
$266.9K – $355.9K
NOI $21,353 @ 7.0% cap · market cap 1.53%
Theoretical Best
Specialty Retail
$1.07M
$935.1K – $1.25M
NOI $74,807 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,284
Businesses Nearby
26k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
7,166 visits/mo
0.3 miles
PNC Bank
Shops & Services
6,335 visits/mo
0.4 miles
Citgo
Shops & Services
3,215 visits/mo
0.3 miles
Mobil
Shops & Services
2,915 visits/mo
0.4 miles
Firestone Complete Auto Care
Shops & Services
2,241 visits/mo
0.1 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Brazilian Court Apartment — 1805 19th Pl, Vero Beach, FL 32960
- Vera — 1520 5th ct, vero beach, fl 32960
Frequently Asked Questions
What type of property is this?
Bed & breakfast - 1918 historic estate offers renovated accommodations, a communal kitchen, and connected retail/event space with dedicated parking.
Where is this bed & breakfast located?
The property is located at 1443 19th Place Vero Beach, FL.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 1918 historic estate renovated in 2022 with brand‑new roof and insulation, new windows (upstairs), and extensive termite treatment with warranty; Zoned mixed‑use, offering residential and commercial flexibility for uses such as a bed & breakfast, restaurant, wine bar, or boutique hotel; 8 bedrooms and 6.5 baths, including suites with kitchenettes for weekly or monthly guests; former layout reconfigured to enhance guest accommodations
