Building Details

Building Size 2,250 SF

Year Built 1984

Buildings 1

Stories 1

Units 1

Listing Agency: Engel & Voelkers Hutchinson Is Show Phone

Listed By: Richard Angelo Bettencourt · License #F10556324 Show Phone

Source: Ncgresources

Added: May 18 Changed: Oct 31 Last Checked: Oct 31 at 3:08AM

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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 Engel & Voelkers Hutchinson Is

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This light industrial property comprises two parcels, each with its own improvements. The buildings date to 1984, and the site is zoned IL.

The parcels may be acquired together or separately, providing two transaction configurations for the property.

Key Highlights

• Two parcels, each with separate improvements
• 1984 construction
• IL zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,134

Cap Rate

2.90%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$362,680 $362.7K

Cap Rate 7%

$259,057 $259.1K

Cap Rate 9%

$201,489 $201.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,250 SF

Gross rent

$22.4K $9.96/SF

− Vacancy

−$1.1K −$0.48/SF

EGI

$21.3K $9.48/SF

− OpEx

−$3.2K −$1.42/SF

NOI

$18.1K $8.06/SF

Area

Indian River County, FL

Vacancy

4.80%

Lease Rate

$9.96 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$362,680

Cap Rate 7%

$259,057

Cap Rate 9%

$201,489

Alternative Uses

Best Use

Warehouse

$259.1K

$226.7K – $302.2K (±1% cap)

NOI $18,134 @ 7.0% cap · market cap 2.90%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$493.4K

$431.8K – $575.7K (±1% cap)

NOI $34,540 @ 7.0% cap · market cap 5.53%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Indian River Roofing ... Roofing Company

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm Building Supply Big Box & Wholesale Store Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

214

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

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 Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Similar Off Market Nearby

• StoreRight Self Storage — 1755 Oslo Rd, Vero Beach, FL 32962
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Frequently Asked Questions

What type of property is this?

Warehouse - Two improved parcels offer flexibility for a combined acquisition or separate purchases, with IL zoning.

Where is this warehouse located?

The property is located at 806 SW 11th Dr Drive SW Vero Beach, FL.

What is the asking price?

The asking price for this property is $625,000.

What are key features of this property?

This property features: Two parcels, each with separate improvements; 1984 construction; IL zoning