Two-Building Flex
415/425 US Highway 1, Vero Beach, FL 32962
For Sale
$1,600,000
The paired facilities offer fabrication, showroom, office, and storage areas across two parcels.
Property Size4,000 SF
Days on Market14
Property Features for 415/425 US Highway 1
General Information
Standard status
Size
Property subtype
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Property Use
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Coldwell Banker Schmidt Family Of Companies
Listed By:
Jimmy C Phipps · License FL #3473170
(631) 708-5015
Source:
Elliman
Added: Oct 30
Changed: Nov 10
Last Checked: Nov 10 at 8:15AM
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 Coldwell Banker Schmidt Family Of Companies
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Investment Insights
Based on property information with market context.
Offered together, the two-building flex property spans separate parcels; the operating businesses are excluded from the sale. At 415, the building is leased to a roofing contractor for metal fabrication and includes a sizable office, storage space, and recently installed large bay doors. A new TPO roof is also in place.
The 425 building is used by the owner for storage and features a showroom, two bathrooms, more than 1,100 square feet of storage area, and a large rear bay door. The property is located on US Highway 1 in Vero Beach.
The 425 building is used by the owner for storage and features a showroom, two bathrooms, more than 1,100 square feet of storage area, and a large rear bay door. The property is located on US Highway 1 in Vero Beach.
Key Highlights
- Two buildings on separate parcels; sale excludes the businesses
- 415 is leased to a roofing contractor for metal fabrication
- 415 includes a large office, storage, new large bay doors, and a new TPO roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,068
Cap Rate
3.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,141,360
$1.1M
Cap Rate 7%
$815,257
$815.3K
Cap Rate 9%
$634,089
$634.1K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$93.6K $23.40/SF
− Vacancy
−$5.8K −$1.45/SF
EGI
$87.8K $21.95/SF
− OpEx
−$30.7K −$7.68/SF
NOI
$57.1K $14.27/SF
Area
Indian River County, FL
Vacancy
6.20%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,141,360
Cap Rate 7%
$815,257
Cap Rate 9%
$634,089
Alternative Uses
Best Use
Flex RnD
$815.3K
$713.4K – $951.1K
NOI $57,068 @ 7.0% cap · market cap 3.57%
Second Best
Industrial
$341.3K
$298.6K – $398.2K
NOI $23,890 @ 7.0% cap · market cap 1.49%
Theoretical Best
Specialty Retail
$877.2K
$767.6K – $1.02M
NOI $61,405 @ 7.0% cap · market cap 3.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
$247,700
Median Home Value
Market
Average Price Trend$/SF for Flex space in Vero Beach, FL
Properties on Market for Flex space in Vero Beach
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Express Catering Co Inc — 396 11th Ave, Vero Beach, FL 32962
- Cheers & Chasers Mobile Bar — 4th Ln, Vero Beach South, FL 32962
Frequently Asked Questions
What type of property is this?
Flex space - The paired facilities offer fabrication, showroom, office, and storage areas across two parcels.
Where is this flex space located?
The property is located at 415/425 US Highway 1 Vero Beach, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Two buildings on separate parcels; sale excludes the businesses; 415 is leased to a roofing contractor for metal fabrication; 415 includes a large office, storage, new large bay doors, and a new TPO roof
