Miracle Mile Retail
For Sale
Contact for pricing
474 21st Street, Vero Beach, FL 32960
High-visibility retail space on Miracle Mile, Vero Beach.
Property Size2,400 SF
Price / SF$0.01
Days on Market225
Property Features for 474 21st Street
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Retail
Building Details
Year Built
1969
Listing Agency:
Coldwell Banker Paradise
Listed By:
Andrew Gonzalez · License #3222822
(772) 633-7512
Source:
Cbcworldwide
Added: Mar 5
Changed: Aug 8
Last Checked: Apr 5 at 8:43PM
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 Coldwell Banker Paradise
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Investment Insights
Based on property information with market context.
Commercial space on Miracle Mile will become available at the end of February. The property offers nearly 2,400 sq. ft. of retail opportunity in Vero Beach, situated along a corridor with an average daily traffic count of 9,100 vehicles. The space features an open-ceiling design and a flexible layout, suitable for various retail concepts, showroom use, or creative workspace.
Key Highlights
- High‑visibility location on Miracle Mile, a highly traveled corridor.
- Approximately 2,400 sq. ft. of commercial space.
- High average daily traffic count of 9,100 vehicles.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,058
Suggested Prices Based on Cap Rates
Cap Rate 5%
$461,160
$461.2K
Cap Rate 7%
$329,400
$329.4K
Cap Rate 9%
$256,200
$256.2K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$36.0K $15.00/SF
− Vacancy
−$3.1K −$1.28/SF
EGI
$32.9K $13.73/SF
− OpEx
−$9.9K −$4.12/SF
NOI
$23.1K $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%
$461,160
Cap Rate 7%
$329,400
Cap Rate 9%
$256,200
Alternative Uses
Best Use
Retail
$329.4K
$288.2K – $384.3K
NOI $23,058 @ 7.0% cap · market cap 82,350.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$526.3K
$460.5K – $614.1K
NOI $36,843 @ 7.0% cap · market cap 131,582.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,398
Businesses Nearby
270k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 33%
Dining 26%
Shops & Services 19%
Apparel 16%
Publix
Groceries
45,919 visits/mo
0.1 miles
T.J. Maxx
Apparel
38,375 visits/mo
0.1 miles
The Fresh Market
Groceries
29,274 visits/mo
0.1 miles
Panera Bread
Dining
17,167 visits/mo
0.1 miles
Dollar Tree
Shops & Services
17,019 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - High-visibility retail space on Miracle Mile, Vero Beach.
Where is this retail space located?
The property is located at 474 21st Street Vero Beach, FL.
What are key features of this property?
This property features: High‑visibility location on Miracle Mile, a highly traveled corridor.; Approximately 2,400 sq. ft. of commercial space.; High average daily traffic count of 9,100 vehicles.
