US Highway 1 Redevelopment
For Sale
Contact for pricing
6695 US-1, Vero Beach, FL 32967
1.5-acre commercial property with existing improvements and expansion potential.
Property Size11,050 SF
Lot Size1.50 Acres
Price / SF$176.47
Days on Market187
Property Features for 6695 US-1
General Information
Standard status
Active
Size
11,050 SF
Lot size
1.50 Acres
Property subtype
Industrial, Mixed Use
Zoning
Heavy Commercial
Lease Type
Gross
Investment Type
Owner/User
Building Details
Year Renovated
2026
Buildings
3
Stories
1
Tenancy
Multi
Listing Agency:
Flaig Commercial Group
(772) 766-2001
Listed By:
Christopher Flaig · License #3495792
Source:
Crexi
Added: Feb 18
Changed: Aug 8
Last Checked: Aug 22 at 6:44AM
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 Flaig Commercial Group
Investment Insights
Based on property information with market context.
This 1.5-acre property is positioned on US Highway 1, situated between Sebastian and Vero Beach, in a rapidly growing corridor of Indian River County. Zoned Commercial Heavy, the site benefits from approximately 26,500 vehicles per day in direct frontage exposure. The property includes over 11,000 square feet of existing rentable improvements, with approval in place to construct an additional 4,500 square feet. The location, zoning flexibility, traffic counts, and surrounding residential density make this asset suitable for redevelopment, an owner occupant seeking income offset, or an investor targeting service-oriented tenants. The corridor is surrounded by established residential communities and multiple new upscale neighborhoods currently under construction. Population density and household income trends support continued commercial absorption along this stretch of US1. Nearby demand drivers include Vero Beach Regional Airport, Wabasso Bridge providing direct barrier island access, and Harbor Point Retail Plaza anchored by Publix. This presents a prime redevelopment and owner-user opportunity.
Key Highlights
- Prime 1.5‑acre redevelopment opportunity on US Highway 1.
- Zoned Commercial Heavy with approval to construct an additional 4,500 square feet.
- High traffic count of approximately 26,500 vehicles per day.
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
$123,869
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
6.35%
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%
$2,477,380
$2.5M
Cap Rate 7%
$1,769,557
$1.8M
Cap Rate 9%
$1,376,322
$1.4M
Market Conditions
NOI Build-Up for 11,050 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
$221.4K $20.04/SF
− Vacancy
−$23.3K −$2.10/SF
EGI
$198.2K $17.94/SF
− OpEx
−$74.3K −$6.73/SF
NOI
$123.9K $11.21/SF
Area
Indian River County, FL
Vacancy
10.50%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
37.50%
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%
$2,477,380
Cap Rate 7%
$1,769,557
Cap Rate 9%
$1,376,322
Alternative Uses
Best Use
Mixed Use
$1.77M
$1.55M – $2.06M
NOI $123,869 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.42M
$2.12M – $2.83M
NOI $169,632 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
119
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 1.5-acre commercial property with existing improvements and expansion potential.
Where is this mixed-use property located?
The property is located at 6695 US-1 Vero Beach, FL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Prime 1.5‑acre redevelopment opportunity on US Highway 1.; Zoned Commercial Heavy with approval to construct an additional 4,500 square feet.; High traffic count of approximately 26,500 vehicles per day.
