Mixed-Use Commercial
1615 14th Avenue Vero Beach, FL 32960
For Sale
$5,900,000
SINGLE_FAMILY - Vero Beach, FL
Property Size36,545 SF
Lot Size2.07 Acres
Price / SF$161.44
Days on Market489
Property Features for 1615 14th Avenue
General Information
- Property type
- Residential
- Property subtype
- Retail
- Zoning
- , C-1
- Interior features
- Elevator
- Accessibility
- Accessible Elevator Installed
- Standard status
- Active
- APN
- 33390100047030000005.0
- Size
- 36,545 SF
- Lot size
- 2.07 Acres
Taxes and HOA fees
- Tax Description
- HIGHLAND PARK PLAT NO. 3 BLK 30 LOTS 5, 6, 7 & 8 PBI 2-4
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1989
- Floors in Building
- 2
- Flooring type
- Concrete, Vinyl, Carpet
- Building materials
- Block, Concrete
- Roof type
- Metal
Listing Agency:
Alex MacWilliam, Inc.
(772) 231-6509
Listed By:
T.P. Kennedy · License #3377487
(772) 473-2521
Added: Mar 25, 2025
Changed: Jun 12
Last Checked: Jul 26 at 4:06AM
MLS# 286774
Copyright © 2026 Realtors Association of Indian River County. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use commercial complex totals 36,545 square feet and includes 12 residential apartments alongside retail, office, restaurant, and medical spaces. The property is described as well maintained and provides on-site amenities including an elevator and fire sprinklers. A 2023 roof is in place, and the listing notes ongoing upgrades.
The complex is positioned in the heart of Vero Beach in a C-1 zoned area and is described as being in a high-traffic location with excellent road frontage. Ample parking is also noted, supporting practical access for retail and service tenants and their customers.
For tenants and buyers seeking a diversified income mix within one ownership, this configuration brings multiple operating categories under a single roof. The presence of both residential units and commercial space types, including office, restaurants, and medical uses, may appeal to operators that benefit from a built-in customer base and shared property infrastructure. With elevator service, fire sprinklers, and a recently installed roof, the building supports ongoing occupancy for a range of neighborhood-oriented commercial needs.
The complex is positioned in the heart of Vero Beach in a C-1 zoned area and is described as being in a high-traffic location with excellent road frontage. Ample parking is also noted, supporting practical access for retail and service tenants and their customers.
For tenants and buyers seeking a diversified income mix within one ownership, this configuration brings multiple operating categories under a single roof. The presence of both residential units and commercial space types, including office, restaurants, and medical uses, may appeal to operators that benefit from a built-in customer base and shared property infrastructure. With elevator service, fire sprinklers, and a recently installed roof, the building supports ongoing occupancy for a range of neighborhood-oriented commercial needs.
Key Highlights
- Prime 36,545 sq ft mixed‑use commercial complex.
- Features 12 residential apartments plus retail, office, restaurants, and medical spaces.
- Located in a high‑traffic area with excellent road frontage.
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $920.9k | $25.20 |
| − Vacancy | −$96.7k | −$2.65 |
| EGI | $824.2k | $22.55 |
| − OpEx | −$329.7k | −$9.02 |
| NOI | $494.5k | $13.53 |
36,545 SF · lease $25.20/SF/yr · vacancy 10.50% · expense 40.00%
Alternative Uses
Best Use
Specialty Retail
$8.01M
$7.01M – $9.35M
NOI $561,013 @ 7.0% cap · market cap 9.51%
Second Best
Healthcare Medical
$7.06M
$6.18M – $8.24M
NOI $494,542 @ 7.0% cap · market cap 8.38%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
C & L Associates
Apartment Building
FAQs
What type of property is this?
Mixed-use property - Mixed-use property combining 12 apartments with retail, office, restaurants, and medical space plus parking and fire sprinklers.
Where is this mixed-use property located?
The property is located at 1615 14th Avenue Vero Beach, FL.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: Prime 36,545 sq ft mixed‑use commercial complex.; Features **12 residential apartments plus retail, office, restaurants, and medical spaces.**; Located in a **high‑traffic area with excellent road frontage.**
