AutoZone-Leased Retail
405 9th St SW, Vero Beach, FL 32962
For Sale
New
$1,650,000
A 2027 construction year and extended lease options define the property’s physical and contractual profile.
Property Size7,500 SF
Days on Market2
Property Features for 405 9th St SW
General Information
Standard status
Size
Property subtype
Additional Details
Tenant in Place
Building Details
Building Size
Year Built
Tenancy
Listed By:
Patrick Nutt
(703) 434-2599
Source:
Srsre
Added: Nov 12
Last Checked: Nov 12 at 2:43PM
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 Patrick Nutt
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Investment Insights
Based on property information with market context.
This retail property is occupied by AutoZone and was built in 2027. The tenant has entered a 20-year lease that includes four five-year extension options.
The lease provides for a 9% rent increase in year 11, followed by increases of 10% in the second option period and 15% in each of the third and fourth option periods.
The lease provides for a 9% rent increase in year 11, followed by increases of 10% in the second option period and 15% in each of the third and fourth option periods.
Key Highlights
- AutoZone is the tenant under a 20‑year lease
- Four 5‑year options to extend
- Rent increases 9% in year 11, 10% in option 2, and 15% in options 3 and 4
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,056
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,441,120
$1.4M
Cap Rate 7%
$1,029,371
$1.0M
Cap Rate 9%
$800,622
$800.6K
Market Conditions
NOI Build-Up for 7,500 SF
Gross rent
$112.5K $15.00/SF
− Vacancy
−$9.6K −$1.28/SF
EGI
$102.9K $13.73/SF
− OpEx
−$30.9K −$4.12/SF
NOI
$72.1K $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 Rate 5%
$1,441,120
Cap Rate 7%
$1,029,371
Cap Rate 9%
$800,622
Alternative Uses
Best Use
Retail
$1.03M
$900.7K – $1.20M
NOI $72,056 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.64M
$1.44M – $1.92M
NOI $115,135 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
327
Businesses Nearby
99k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 43%
Groceries 31%
Shops & Services 20%
Home Improvements & Furnishings 6%
Publix
Groceries
30,459 visits/mo
0.4 miles
McDonald's
Dining
26,661 visits/mo
0.3 miles
Wendy's
Dining
15,028 visits/mo
0.3 miles
Dollar General
Shops & Services
9,734 visits/mo
0.2 miles
d's Ace Hardware
Home Improvements & Furnishings
6,422 visits/mo
0.4 miles
Demographics for 32962, FL
26,011
Population
12,705
Households
2
Avg Household Size
49
Median Age
25%
College-Educated
90%
High-School Grad
12.5 sq mi
ZIP Area
2,081
Density / Sq Mi
$65,137
Median Household Income
$32,617
Median Earnings
$1,184
Median Rent
$247,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Retail space in Vero Beach, FL
Properties on Market for Retail space in Vero Beach
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - A 2027 construction year and extended lease options define the property’s physical and contractual profile.
Where is this retail space located?
The property is located at 405 9th St SW Vero Beach, FL.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: AutoZone is the tenant under a 20‑year lease; Four 5‑year options to extend; Rent increases 9% in year 11, 10% in option 2, and 15% in options 3 and 4
