Showroom and Warehouse Flex
For Sale
$1,550,000
715 12th Street, Vero Beach, FL 32960
Combined display and storage areas with outdoor space, central air, and flexible zoning for varied commercial uses.
Property Size5,821 SF
Price / SF$266.28
Days on Market25
Property Features for 715 12th Street
General Information
Standard status
Active
Size
5,821 SF
Property subtype
Industrial
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Amenities
Central Air
22215
Building Details
Year Built
1980
Stories
1
Listing Agency:
(772) 778-2334
Listed By:
Lambert Commercial Real Estate
(772) 205-9744
Source:
Xome
Added: Aug 17
Changed: Sep 9
Last Checked: Sep 9 at 3:43PM
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 Lambert Commercial Real Estate
Investment Insights
Based on property information with market context.
This 5,821-square-foot flex property combines showroom space with warehouse area in a practical commercial layout. The facility includes central air and additional outdoor space that can accommodate storage, equipment, vehicles, or delivery activity. Built in 1980, the property offers a functional setting for businesses requiring both customer-facing and operational areas.
Located at 715 12th Street in Vero Beach, the facility is positioned just off the US-1 corridor. Flexible zoning supports a broad range of commercial applications, including retail, showroom, service, and distribution uses.
Located at 715 12th Street in Vero Beach, the facility is positioned just off the US-1 corridor. Flexible zoning supports a broad range of commercial applications, including retail, showroom, service, and distribution uses.
Key Highlights
- 5,821‑square‑foot flex property
- Combination showroom and warehouse layout
- Additional outdoor area for storage, equipment, vehicles, or deliveries
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
$83,048
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
5.36%
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%
$1,660,960
$1.7M
Cap Rate 7%
$1,186,400
$1.2M
Cap Rate 9%
$922,756
$922.8K
Market Conditions
NOI Build-Up for 5,821 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
$136.2K $23.40/SF
− Vacancy
−$8.4K −$1.45/SF
EGI
$127.8K $21.95/SF
− OpEx
−$44.7K −$7.68/SF
NOI
$83.0K $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%
$1,660,960
Cap Rate 7%
$1,186,400
Cap Rate 9%
$922,756
Alternative Uses
Best Use
Flex RnD
$1.19M
$1.04M – $1.38M
NOI $83,048 @ 7.0% cap · market cap 5.36%
Second Best
Retail
$798.9K
$699.1K – $932.1K
NOI $55,925 @ 7.0% cap · market cap 3.61%
Theoretical Best
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,360 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,340
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Tasty Kabob — 929 15th Pl, Vero Beach, FL 32960
- Orchid Gourmet — 1766 14th Ave, Vero Beach, FL 32960
Frequently Asked Questions
What type of property is this?
Flex space - Combined display and storage areas with outdoor space, central air, and flexible zoning for varied commercial uses.
Where is this flex space located?
The property is located at 715 12th Street Vero Beach, FL.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 5,821‑square‑foot flex property; Combination showroom and warehouse layout; Additional outdoor area for storage, equipment, vehicles, or deliveries
