Prime Retail Frontage on
For Sale
$2,499,000
1610 US Highway 1, Vero Beach, FL 32960
Retail property with high visibility and traffic count.
Property Size13,620 SF
Lot Size0.70 Acres
Days on Market159
Property Features for 1610 US Highway 1
General Information
Standard status
Active
Size
13,620 SF
Lot size
0.70 Acres
Property subtype
Commercial
Building Details
Building Size
13,620 SF
Year Built
1972
Stories
1
Listing Agency:
Lambert Commercial Real Estate
(352) 406-8386
Listed By:
Edward M Amos · License #BK3464341
(352) 406-8386
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:41AM
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
Investment Insights
Based on property information with market context.
This commercial property features prime frontage on US Highway 1, benefiting from a daily traffic count exceeding 35,000 vehicles. Situated within a well-established retail corridor, the location is anchored by national tenants such as Chick-Fil-A, Walmart Neighborhood Market, Walgreens, Arby’s, and Cumberland Farms. The surrounding market is experiencing high growth and boasts an affluent customer base, with over 97,000 residents residing within a 5-mile radius. The property occupies a strategic position in the heart of Vero Beach’s primary commercial area. The building is a single-story structure offering a flexible, open floor plan.
Key Highlights
- Prime frontage on US Highway 1 with high traffic volume (35,000+ daily vehicles).
- Anchored by national tenants including Chick‑Fil‑A, Walmart Neighborhood Market and Walgreens.
- Located in a high‑growth market with an affluent customer base.
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
$130,854
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
5.24%
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%
$2,617,080
$2.6M
Cap Rate 7%
$1,869,343
$1.9M
Cap Rate 9%
$1,453,933
$1.5M
Market Conditions
NOI Build-Up for 13,620 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
$204.3K $15.00/SF
− Vacancy
−$17.4K −$1.28/SF
EGI
$186.9K $13.73/SF
− OpEx
−$56.1K −$4.12/SF
NOI
$130.9K $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%
$2,617,080
Cap Rate 7%
$1,869,343
Cap Rate 9%
$1,453,933
Alternative Uses
Best Use
Retail
$1.87M
$1.64M – $2.18M
NOI $130,854 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.99M
$2.61M – $3.48M
NOI $209,085 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,226
Businesses Nearby
350k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Groceries 22%
Shops & Services 18%
Home Improvements & Furnishings 4%
Publix
Groceries
39,429 visits/mo
0.5 miles
Walmart Neighborhood Market
Groceries
35,642 visits/mo
0.2 miles
Chick-fil-A
Dining
29,284 visits/mo
0.1 miles
McDonald's
Dining
26,873 visits/mo
0.4 miles
Starbucks
Dining
26,288 visits/mo
0.5 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.
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail property with high visibility and traffic count.
Where is this storefront property located?
The property is located at 1610 US Highway 1 Vero Beach, FL.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Prime frontage on US Highway 1 with high traffic volume (35,000+ daily vehicles).; Anchored by national tenants including Chick‑Fil‑A, Walmart Neighborhood Market and Walgreens.; Located in a high‑growth market with an affluent customer base.
