Warehouse Property with Agricultural
New
For Sale
$6,750,000
6850 53rd Street, Vero Beach, FL 32967
Land, Vero Beach, FL
Property Size23,700 SF
Lot Size14.16 Acres
Price / SF$284.81
Days on Market5
Property Features for 6850 53rd Street
General Information
Property type
Land
Property subtype
Other
Zoning
,
Zoning description
Agricultural, Residential
Security features
Security
Vegetation
Wooded
Subdivision
Indian River Farms
Lot features
Ten To Twenty Acres, Split Possible, Wooded
View
Lake
Elementary school district
Indian River County Schools
Middle school district
Indian River County Schools
High school district
Indian River County Schools
Directions
Take 49th St. west to 66th Avenue. Turn right onto 66th and then left onto 53rd St. The property is less than a quarter mile down on the right.
Standard status
Active
APN
32391800001015000001.0
Size
23,700 SF
Lot size
14.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
INDIAN RIVER FARMS COMPANY S/D PBS 2-25 THE W 15 AC OF THE E 20 AC OF TR 15 SEC 18 TWN 32 RNG 39 LESS AND EXCEPT THE N 100 FT AND LESS AND EXCEPT THE ADDITIONAL 50 FT FOR ROW DESCRIBED IN OR 2344/2052
Tax Annual Amount
8730
Legal Description
INDIAN RIVER FARMS COMPANY S/D PBS 2-25 THE W 15 AC OF THE E 20 AC OF TR 15 SEC 18 TWN 32 RNG 39 LESS AND EXCEPT THE N 100 FT AND LESS AND EXCEPT THE ADDITIONAL 50 FT FOR ROW DESCRIBED IN OR 2344/2052
Utilities
Sewer type
Septic Tank
Water source
Well
Water front features
Pond, Lake
Water front
1
Amenities
pond
established palms
Listing Agency:
Alex MacWilliam, Inc.
(772) 231-6509
Listed By:
T.P. Kennedy · License #3377487
(772) 473-2521
Added: Aug 24
Changed: Aug 27
Last Checked: Aug 28 at 3:06PM
MLS# 299382
Copyright © 2026 Realtors Association of Indian River County. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This warehouse property includes 23,700 square feet of enclosed improvements across 14.16 acres. The improvements provide executive office areas, warehouse space, climate-controlled sections, and secure storage, with fully grouted CBS construction, impact-rated windows and doors, backup power, redundant electrical systems, and modern communications infrastructure.
Approximately 10 acres are planted with established palms, adding an agricultural component to the property. A 1/2-acre pond is also located on the site. Water service is provided by a well, while wastewater is handled through a septic tank.
Approximately 10 acres are planted with established palms, adding an agricultural component to the property. A 1/2-acre pond is also located on the site. Water service is provided by a well, while wastewater is handled through a septic tank.
Key Highlights
- 23,700+/- SF of enclosed improvements on 14.16+/- acres
- Executive offices, expansive warehouses, climate‑controlled areas, 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
$253,614
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
3.76%
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%
$5,072,280
$5.1M
Cap Rate 7%
$3,623,057
$3.6M
Cap Rate 9%
$2,817,933
$2.8M
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
$412.4K $17.40/SF
− Vacancy
−$74.2K −$3.13/SF
EGI
$338.2K $14.27/SF
− OpEx
−$84.5K −$3.57/SF
NOI
$253.6K $10.70/SF
Area
Indian River County, FL
Vacancy
18.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
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%
$5,072,280
Cap Rate 7%
$3,623,057
Cap Rate 9%
$2,817,933
Alternative Uses
Best Use
Office B
$3.62M
$3.17M – $4.23M
NOI $253,614 @ 7.0% cap · market cap 3.76%
Second Best
Warehouse
$2.73M
$2.39M – $3.18M
NOI $191,013 @ 7.0% cap · market cap 2.83%
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?
Warehouse - Enclosed warehouse property with offices, climate-controlled areas, secure storage, and established palms.
Where is this warehouse located?
The property is located at 6850 53rd Street 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 warehouses, climate‑controlled areas, and secure storage; Fully grouted CBS construction with impact windows and doors
