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1595 Old Dixie Hwy, Vero Beach, FL 32960
Four commercial buildings totaling 24,594 SF with long-term tenant.
Property Size24,594 SF
Price / SF$191.10
Days on Market184
Property Features for 1595 Old Dixie Hwy
General Information
Standard status
Active
Size
24,594 SF
Property subtype
Mixed Use, Office, Retail
Investment Type
Sale/Leaseback
Net Operating Income
$352,103
Building Details
Buildings
4
Units
4
Listing Agency:
Lambert Commercial Real Estate Inc
(772) 778-2334
Listed By:
Kevin Lambert · License #BK 3327845
Source:
Crexi
Added: Feb 9
Changed: Aug 8
Last Checked: Aug 8 at 6:41AM
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 portfolio features four commercial buildings totaling 24,594 square feet. The properties have been purchased and renovated within the past 5 years, including fully interior renovations, plumbing and electrical upgrades, and recent roof HVAC replacements. The lease structure is triple net (NNN). The landlord is responsible for the roof, structure, and common area maintenance, with all operating expenses billed back to the tenant, including amortized capital improvements or repairs. The tenant is responsible for all interior repairs and maintenance, including HVAC. The average lease expiration is in February 2034, with 8 years remaining, and includes two 1-year renewal options with 3% increases. The current base rent is $352,103.46, with 3% annual rental increases. Current facility uses include mental health outpatient services, detox and residential impatient treatment, and PHP/IOP addiction and substance abuse programs.
Key Highlights
- Sale‑Leaseback opportunity with a thriving health and wellness organization as the tenant.
- Attractive 7.49% CAP Rate and NOI of $352,103.46.
- Long‑term lease with an average expiration in February 2034 (8 years remaining) and 3% annual rental increases.
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
$332,816
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
7.08%
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%
$6,656,320
$6.7M
Cap Rate 7%
$4,754,514
$4.8M
Cap Rate 9%
$3,697,956
$3.7M
Market Conditions
NOI Build-Up for 24,594 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
$619.8K $25.20/SF
− Vacancy
−$65.1K −$2.65/SF
EGI
$554.7K $22.55/SF
− OpEx
−$221.9K −$9.02/SF
NOI
$332.8K $13.53/SF
Area
Indian River County, FL
Vacancy
10.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
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%
$6,656,320
Cap Rate 7%
$4,754,514
Cap Rate 9%
$3,697,956
Alternative Uses
Best Use
Healthcare Medical
$4.75M
$4.16M – $5.55M
NOI $332,816 @ 7.0% cap · market cap 7.08%
Second Best
Mixed Use
$3.94M
$3.45M – $4.59M
NOI $275,696 @ 7.0% cap · market cap 5.87%
Theoretical Best
Specialty Retail
$5.39M
$4.72M – $6.29M
NOI $377,550 @ 7.0% cap · market cap 8.03%
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
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?
Mixed-use property - Four commercial buildings totaling 24,594 SF with long-term tenant.
Where is this mixed-use property located?
The property is located at 1595 Old Dixie Hwy Vero Beach, FL.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: Sale‑Leaseback opportunity with a thriving health and wellness organization as the tenant.; Attractive 7.49% CAP Rate and NOI of $352,103.46.; Long‑term lease with an average expiration in February 2034 (8 years remaining) and 3% annual rental increases.
