Retail Building on
For Sale
$1,300,000
721 US Highway 1, Vero Beach, FL 32962
Stand-alone retail building with high visibility and ample parking.
Property Size5,261 SF
Lot Size0.44 Acres
Price / SF$247.10
Days on Market201
Property Features for 721 US Highway 1
General Information
Standard status
Active
Size
5,261 SF
Lot size
0.44 Acres
Property subtype
Retail
Amenities
Central Air
, CG
19166
Building Details
Year Built
1950
Listing Agency:
Lambert Commercial Real Estate
(352) 406-8386
Listed By:
Lambert Commercial Real Estate · License #BK3464341
(352) 406-8386
Source:
Xome
Added: Feb 4
Changed: Aug 23
Last Checked: Aug 22 at 5:14PM
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 stand-alone retail building is located on US-1, offering over 200 feet of corner frontage and prominent signage opportunities along US Highway 1 for maximum brand visibility. The 5,261 square foot building is situated on a 0.44-acre lot and features approximately 123 feet of frontage on US Highway 1. Built in 1950, the single-story layout provides a flexible configuration. Ample on-site parking is available for retail use. The property is centrally located with easy access to downtown and the beach. It is ideal for an owner-user seeking a business location with high traffic. The zoning is (CG) Commercial General. Utilities include sewer, FPL, and county water. Traffic counts are 22,000 AADT (2024). Real estate taxes are $6,338.74 (2025).
Key Highlights
- High‑traffic location on US‑1 with 22,000 AADT (2024).
- Over 200 ft of corner frontage on US‑1.**
- Stand‑alone retail building with prominent signage opportunities.**
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
$50,545
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
3.89%
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%
$1,010,900
$1.0M
Cap Rate 7%
$722,071
$722.1K
Cap Rate 9%
$561,611
$561.6K
Market Conditions
NOI Build-Up for 5,261 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
$78.9K $15.00/SF
− Vacancy
−$6.7K −$1.28/SF
EGI
$72.2K $13.73/SF
− OpEx
−$21.7K −$4.12/SF
NOI
$50.5K $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 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%
$1,010,900
Cap Rate 7%
$722,071
Cap Rate 9%
$561,611
Alternative Uses
Best Use
Retail
$722.1K
$631.8K – $842.4K
NOI $50,545 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.15M
$1.01M – $1.35M
NOI $80,763 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
897
Businesses Nearby
177k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 25%
Office Supplies 11%
Apparel 6%
Wawa
Shops & Services
44,029 visits/mo
0.5 miles
Staples
Office Supplies
19,884 visits/mo
0.5 miles
Chili's Grill & Bar
Dining
19,169 visits/mo
0.2 miles
Dollar Tree
Shops & Services
18,751 visits/mo
0.5 miles
Taco Bell
Dining
12,587 visits/mo
0.4 miles
Demographics for 32962, FL
26,011
Population
12,705
Households
2
Avg Household Size
49
Median Age
25%
College-Educated
90%
High-School Grad
12.5 sq mi
ZIP Area
2,081
Density / Sq Mi
$65,137
Median Household Income
$32,617
Median Earnings
$1,184
Median Rent
$247,700
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Monti's Flower Market Inc — 1163 Commerce Ave, Vero Beach, FL 32960
Frequently Asked Questions
What type of property is this?
Storefront property - Stand-alone retail building with high visibility and ample parking.
Where is this storefront property located?
The property is located at 721 US Highway 1 Vero Beach, FL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: High‑traffic location on US‑1 with 22,000 AADT (2024).; Over 200 ft of corner frontage on US‑1.**; Stand‑alone retail building with prominent signage opportunities.**
