Iconic Office Building in
1708 21st St Vero Beach, FL 32960
For Sale
$2,199,000
Pending
Freestanding office building in downtown Vero Beach redevelopment district.
Property Size8,802 SF
Lot Size0.43 Acres
Days on Market100
Property Features for 1708 21st St
General Information
Standard status
Pending
Size
8,802 SF
Lot size
0.43 Acres
Property subtype
Commercial
Building Details
Year Built
1983
Listing Agency:
Alex MacWilliam, Inc.
(772) 473-2521
Listed By:
T.P. Kennedy · License #3377487
(772) 473-2521
Source:
Elliman
Added: Apr 21
Changed: Jul 10
Last Checked: Jul 23 at 4:02AM
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 Alex MacWilliam, Inc.
Investment Insights
Based on property information with market context.
This iconic, recognizable freestanding office building is positioned in downtown Vero Beach on a 0.43-acre corner lot within the redevelopment district near the courthouse and business corridor. The two-story property has ±8,802 square feet and is elevator-served. Currently single-tenant, it could be divided into 2–3 tenants. The building includes a ±600 square foot detached storage/garage, covered and uncovered parking, block and frame construction, a standing seam metal roof, and irrigation/well. The property offers strong visibility and a flexible layout, making it suitable for professional, legal, financial, medical, service, or boutique commercial use. The bike score is 43, indicating it is somewhat bikeable, and the walk score is 42, indicating it is car-dependent.
Key Highlights
- Prime downtown Vero Beach location in the redevelopment district, near the courthouse and business corridor.
- Freestanding, iconic, and highly visible office building on a 0.43‑acre corner lot.
- Elevator‑served, two‑story building with ±8,802 SF, divisible into 2‑3 tenant spaces.
Financial Insights For Office B
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 | $153.2k | $17.40 |
| − Vacancy | −$27.6k | −$3.13 |
| EGI | $125.6k | $14.27 |
| − OpEx | −$31.4k | −$3.57 |
| NOI | $94.2k | $10.70 |
8,802 SF · lease $17.40/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.35M
$1.18M – $1.57M
NOI $94,190 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.93M
$1.69M – $2.25M
NOI $135,122 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Freestanding office building in downtown Vero Beach redevelopment district.
Where is this office building located?
The property is located at 1708 21st St Vero Beach, FL.
What is the asking price?
The asking price for this property is $2,199,000.
What are key features of this property?
This property features: Prime downtown Vero Beach location in the redevelopment district, near the courthouse and business corridor.; Freestanding, iconic, and highly visible office building on a 0.43‑acre corner lot.; Elevator‑served, two‑story building with ±8,802 SF, divisible into 2‑3 tenant spaces.
