Strip Mall with Adjacent Vacant
For Sale
$1,200,000
1950 44th Ave 1950-1970, Vero Beach, FL 32966
Strip mall on a 0.25-acre site built in 1950, with adjacent commercial vacant lot included in the sale.
Property Size6,464 SF
Days on Market52
Property Features for 1950 44th Ave 1950-1970
General Information
Standard status
Active
Size
6,464 SF
Property subtype
Industrial
Building Details
Building Size
6,464 SF
Year Built
1950
Stories
1
Listed By:
Diane W Bradley
(772) 473-6857
Source:
Elliman
Added: Jul 29
Changed: Sep 14
Last Checked: Sep 18 at 10:14AM
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 Diane W Bradley
Investment Insights
Based on property information with market context.
This strip mall offering includes the strip store and an adjacent commercial vacant lot, totaling 0.25 acres (all measurements approximate). The property was built in 1950.
All units are currently rented, and leases automatically continue yearly unless written notice is provided by the owner or tenant. An appraisal is scheduled/available in 2025, and showings require 24-hour notice with the listing agent accompanying.
Bike score is 33 (somewhat bikeable) and walk score is 28 (car-dependent), reflecting a primarily vehicle-oriented setting for day-to-day access.
All units are currently rented, and leases automatically continue yearly unless written notice is provided by the owner or tenant. An appraisal is scheduled/available in 2025, and showings require 24-hour notice with the listing agent accompanying.
Bike score is 33 (somewhat bikeable) and walk score is 28 (car-dependent), reflecting a primarily vehicle-oriented setting for day-to-day access.
Key Highlights
- 0.25‑acre site includes strip store plus adjacent commercial vacant lot
- Built in 1950
- All units rented; leases continue yearly unless written notice
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
$62,103
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
5.18%
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%
$1,242,060
$1.2M
Cap Rate 7%
$887,186
$887.2K
Cap Rate 9%
$690,033
$690.0K
Market Conditions
NOI Build-Up for 6,464 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
$97.0K $15.00/SF
− Vacancy
−$8.2K −$1.28/SF
EGI
$88.7K $13.73/SF
− OpEx
−$26.6K −$4.12/SF
NOI
$62.1K $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%
$1,242,060
Cap Rate 7%
$887,186
Cap Rate 9%
$690,033
Alternative Uses
Best Use
Retail
$887.2K
$776.3K – $1.04M
NOI $62,103 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.42M
$1.24M – $1.65M
NOI $99,231 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
509
Businesses Nearby
97k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Shops & Services 34%
Electronics 2%
Taco Bell
Dining
16,003 visits/mo
0.2 miles
Sonny's BBQ
Dining
14,505 visits/mo
0.4 miles
Dunkin' Donuts
Dining
10,396 visits/mo
0.5 miles
BP
Shops & Services
9,174 visits/mo
0.0 miles
KFC
Dining
8,946 visits/mo
0.2 miles
Demographics for 32966, FL
19,724
Population
11,887
Households
1.7
Avg Household Size
62
Median Age
33%
College-Educated
97%
High-School Grad
259.8 sq mi
ZIP Area
76
Density / Sq Mi
$63,144
Median Household Income
$39,945
Median Earnings
$1,442
Median Rent
$264,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Strip mall - Strip mall on a 0.25-acre site built in 1950, with adjacent commercial vacant lot included in the sale.
Where is this strip mall located?
The property is located at 1950 44th Ave 1950-1970 Vero Beach, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 0.25‑acre site includes strip store plus adjacent commercial vacant lot; Built in 1950; All units rented; leases continue yearly unless written notice
