Established Retail Strip
For Sale
$6,000,000
4425 20th Street, Vero Beach, FL 32966
Well-located retail strip center on a primary commercial corridor.
Property Size41,478 SF
Days on Market146
Property Features for 4425 20th Street
General Information
Standard status
Active
Size
41,478 SF
Zoning
, CG
Amenities
Central Air, Electric
Central, Electric
Building Details
Building Size
41,478 SF
Year Built
1958
Stories
1
Listing Agency:
Mills Commercial Real Estate Group LLC
(772) 562-0018
Listed By:
Bill Mills · License #BK3304531
(772) 562-0018
Source:
Evrealestate
Added: Apr 4
Changed: Aug 23
Last Checked: Aug 26 at 6:28AM
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 Mills Commercial Real Estate Group LLC
Investment Insights
Based on property information with market context.
JanSu Plaza is a retail strip center located on State Road 60, a primary commercial corridor in Vero Beach connecting 1-95 to the Atlantic coast. The property offers visibility and easy access. The center was renovated in 2009 and again in 2017, delivering modern infrastructure.
Key Highlights
- Prime location on State Road 60, a major commercial corridor in Vero Beach.
- Excellent visibility and easy access for customers.
- Proximity to major destination retailers.
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
$398,500
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
6.64%
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%
$7,970,000
$8.0M
Cap Rate 7%
$5,692,857
$5.7M
Cap Rate 9%
$4,427,778
$4.4M
Market Conditions
NOI Build-Up for 41,478 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
$622.2K $15.00/SF
− Vacancy
−$52.9K −$1.28/SF
EGI
$569.3K $13.73/SF
− OpEx
−$170.8K −$4.12/SF
NOI
$398.5K $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%
$7,970,000
Cap Rate 7%
$5,692,857
Cap Rate 9%
$4,427,778
Alternative Uses
Best Use
Retail
$5.69M
$4.98M – $6.64M
NOI $398,500 @ 7.0% cap · market cap 6.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.10M
$7.96M – $10.61M
NOI $636,741 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
509
Businesses Nearby
97k
Monthly Visits Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Ryanwood Square — 60 Kings Hwy, Vero Beach, FL 32966
- Vero Beach Square — 5125 20th St, Vero Beach, FL 32966
Frequently Asked Questions
What type of property is this?
Shopping center - Well-located retail strip center on a primary commercial corridor.
Where is this shopping center located?
The property is located at 4425 20th Street Vero Beach, FL.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Prime location on State Road 60, a major commercial corridor in Vero Beach.; Excellent visibility and easy access for customers.; Proximity to major destination retailers.
