Concrete Block Duplex-Conversion
For Sale
$244,750
4576 30TH Avenue, Vero Beach, FL 32967
Newer concrete block property on a double lot with impact windows and a metal roof, plus a long driveway.
Property Size650 SF
Price / SF$376.54
Days on Market48
Property Features for 4576 30TH Avenue
General Information
Standard status
Active
Size
650 SF
Property subtype
Multi-Family
Building Details
Year Built
2024
Listing Agency:
EXP Realty LLC
Listed By:
Katie Holmes · License #276659032
(772) 913-4844
Source:
Billeroproperties
Added: Jul 18
Changed: Aug 19
Last Checked: Sep 2 at 1:49PM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This 2024 concrete block property is designed with a flexible layout that may allow for future duplex conversion. Exterior improvements include smooth stucco, gutters, impact windows and doors, and a metal roof. Interior features include tile flooring, and the home sits on a double lot with a large backyard. A long driveway provides off-street parking.
The property is tenant-occupied, and showings require proof of funds or pre-approval.
The property is tenant-occupied, and showings require proof of funds or pre-approval.
Key Highlights
- 2024 concrete block property on a double lot with a huge backyard
- Impact windows and impact doors
- Metal roof and smooth stucco exterior with gutters
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
$7,505
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
3.07%
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%
$150,100
$150.1K
Cap Rate 7%
$107,214
$107.2K
Cap Rate 9%
$83,389
$83.4K
Market Conditions
NOI Build-Up for 650 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
$11.3K $17.40/SF
− Vacancy
−$588 −$0.90/SF
EGI
$10.7K $16.50/SF
− OpEx
−$3.2K −$4.95/SF
NOI
$7.5K $11.55/SF
Area
Indian River County, FL
Vacancy
5.20%
Lease Rate
$17.40 /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%
$150,100
Cap Rate 7%
$107,214
Cap Rate 9%
$83,389
Alternative Uses
Best Use
Multifamily LT 5
$107.2K
$93.8K – $125.1K
NOI $7,505 @ 7.0% cap · market cap 3.07%
Second Best
Apartment 5plus
$99.0K
$86.6K – $115.5K
NOI $6,928 @ 7.0% cap · market cap 2.83%
Theoretical Best
Specialty Retail
$142.5K
$124.7K – $166.3K
NOI $9,978 @ 7.0% cap · market cap 4.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
Explore this area
Business Placement
Demographics for 32967, FL
25,785
Population
12,358
Households
2.1
Avg Household Size
50
Median Age
35%
College-Educated
91%
High-School Grad
40.0 sq mi
ZIP Area
645
Density / Sq Mi
$73,875
Median Household Income
$38,156
Median Earnings
$1,425
Median Rent
$394,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Newer concrete block property on a double lot with impact windows and a metal roof, plus a long driveway.
Where is this duplex located?
The property is located at 4576 30TH Avenue Vero Beach, FL.
What is the asking price?
The asking price for this property is $244,750.
What are key features of this property?
This property features: 2024 concrete block property on a double lot with a huge backyard; Impact windows and impact doors; Metal roof and smooth stucco exterior with gutters
