For Sale
$4,400,000
2101 14th Avenue, Vero Beach, FL 32960
Mixed-use properties
Property Size25,670 SF
Days on Market185
Property Features for 2101 14th Avenue
General Information
Standard status
Active
Size
25,670 SF
Zoning
, DTW
Net Operating Income
$348,960
Amenities
Central Air, Window Unit(s)
Central
Building Details
Building Size
25,670 SF
Year Built
1925
Stories
2
Listing Agency:
Lambert Commercial Real Estate
Listed By:
Kevin Lambert · License #BK3327845
(772) 532-1165
Source:
Evrealestate
Added: Mar 1
Changed: Aug 25
Last Checked: Sep 1 at 3:27PM
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.
Key Highlights
- Landmark mixed‑use property with 23 residential and 10 commercial units.
- Aggressively maintained historic building.
- Numerous residential units refurbished in the past three years with HVAC replacement, fixture updates, and kitchen/restroom upgrades.
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
$287,757
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
6.54%
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%
$5,755,140
$5.8M
Cap Rate 7%
$4,110,814
$4.1M
Cap Rate 9%
$3,197,300
$3.2M
Market Conditions
NOI Build-Up for 25,670 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
$514.4K $20.04/SF
− Vacancy
−$54.0K −$2.10/SF
EGI
$460.4K $17.94/SF
− OpEx
−$172.7K −$6.73/SF
NOI
$287.8K $11.21/SF
Area
Indian River County, FL
Vacancy
10.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
37.50%
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%
$5,755,140
Cap Rate 7%
$4,110,814
Cap Rate 9%
$3,197,300
Alternative Uses
Best Use
Mixed Use
$4.11M
$3.60M – $4.80M
NOI $287,757 @ 7.0% cap · market cap 6.54%
Second Best
Apartment 5plus
$3.91M
$3.42M – $4.56M
NOI $273,617 @ 7.0% cap · market cap 6.22%
Theoretical Best
Specialty Retail
$5.63M
$4.93M – $6.57M
NOI $394,068 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,097
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 Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this mixed-use property located?
The property is located at 2101 14th Avenue Vero Beach, FL.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: Landmark mixed‑use property with 23 residential and 10 commercial units.; Aggressively maintained historic building.; Numerous residential units refurbished in the past three years with HVAC replacement, fixture updates, and kitchen/restroom upgrades.
