Flex Property with Secure
New
For Sale
$6,750,000
6850 53rd St, Vero Beach, FL 32967
Enclosed flex facility combining executive offices, warehouse areas, climate-controlled space, and secure storage.
Property Size23,700 SF
Lot Size14.16 Acres
Price / SF$284.81
Days on Market6
Property Features for 6850 53rd St
General Information
Standard status
Active
Size
23,700 SF
Lot size
14.16 Acres
Property subtype
Land
Zoning
AG-1
Taxes and HOA fees
Annual Taxes
$8,730
Amenities
impact windows/doors
backup power
redundant electrical systems
modern communications infrastructure
Building Details
Building Size
23,700 SF
Construction
fully grouted CBS
Listing Agency:
Alex MacWilliam, Inc. Real Estate
(772) 473-2521
Listed By:
T.P. Kennedy · License #3377487
(772) 473-2521
Source:
Elliman
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 5:04PM
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 Alex MacWilliam, Inc. Real Estate
Investment Insights
Based on property information with market context.
This 14.16±-acre flex property includes 23,700± SF of enclosed improvements arranged for office, warehouse, climate-controlled, and secure-storage functions. The facility features fully grouted CBS construction, impact-rated windows and doors, backup power, redundant electrical systems, and modern communications infrastructure.
The property also includes approximately 10± acres of established palms and a 1/2-acre pond. AG-1 zoning permits up to 3 residences plus guest houses. Located at 6850 53rd St in Vero Beach, the property is rated Car-Dependent with a walk score of 1 and Somewhat Bikeable with a bike score of 25.
The combination of enclosed commercial improvements, agricultural acreage, and residential allowances supports the stated owner-user, private collector, agricultural enterprise, and estate use profiles.
The property also includes approximately 10± acres of established palms and a 1/2-acre pond. AG-1 zoning permits up to 3 residences plus guest houses. Located at 6850 53rd St in Vero Beach, the property is rated Car-Dependent with a walk score of 1 and Somewhat Bikeable with a bike score of 25.
The combination of enclosed commercial improvements, agricultural acreage, and residential allowances supports the stated owner-user, private collector, agricultural enterprise, and estate use profiles.
Key Highlights
- 23,700± SF of enclosed improvements on 14.16± acres
- Executive offices, expansive warehouse areas, climate‑controlled space, and secure storage
- Fully grouted CBS construction with impact windows and doors
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
$338,127
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
5.01%
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%
$6,762,540
$6.8M
Cap Rate 7%
$4,830,386
$4.8M
Cap Rate 9%
$3,756,967
$3.8M
Market Conditions
NOI Build-Up for 23,700 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
$554.6K $23.40/SF
− Vacancy
−$34.4K −$1.45/SF
EGI
$520.2K $21.95/SF
− OpEx
−$182.1K −$7.68/SF
NOI
$338.1K $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 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%
$6,762,540
Cap Rate 7%
$4,830,386
Cap Rate 9%
$3,756,967
Alternative Uses
Best Use
Flex RnD
$4.83M
$4.23M – $5.64M
NOI $338,127 @ 7.0% cap · market cap 5.01%
Second Best
Office B
$3.62M
$3.17M – $4.23M
NOI $253,614 @ 7.0% cap · market cap 3.76%
Theoretical Best
Specialty Retail
$5.20M
$4.55M – $6.06M
NOI $363,826 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Well-served
Demand for This Use
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Enclosed flex facility combining executive offices, warehouse areas, climate-controlled space, and secure storage.
Where is this flex space located?
The property is located at 6850 53rd St Vero Beach, FL.
What is the asking price?
The asking price for this property is $6,750,000.
What are key features of this property?
This property features: 23,700± SF of enclosed improvements on 14.16± acres; Executive offices, expansive warehouse areas, climate‑controlled space, and secure storage; Fully grouted CBS construction with impact windows and doors
