Industrial Flex Building with
For Sale
Contact for pricing
825 EIGHTH ST, Vero Beach, FL 32962
Ready-to-occupy industrial flex site with warehouse, office, multiple roll-up doors, and a large improved hardstand yard.
Property Size5,200 SF
Lot Size2.35 Acres
Price / SF$403.85
Days on Market108
Property Features for 825 EIGHTH ST
General Information
Standard status
Active
Size
5,200 SF
Lot size
2.35 Acres
Property subtype
Industrial
Zoning
IL / CH (Light Industrial / Heavy Commercial)
Investment Type
Owner/User
Warehouse & Industrial
Clear Height
14 ft
Drive-In Doors
4
Building Details
Year Built
1975
Year Renovated
1989
Buildings
2
Stories
1
Units
1
Listing Agency:
Panther Capital Group
Listed By:
Guillermo de Nicolas · License #FL3440959
Source:
Crexi
Added: Jun 4
Changed: Sep 10
Last Checked: Sep 19 at 8:05AM
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 Panther Capital Group
Investment Insights
Based on property information with market context.
This improved industrial and commercial flex property includes a 5,200 SF building comprised of 3,600 SF of warehouse space and 1,600 SF of office space. The warehouse is served by four roll-up doors and offers 14-foot clear height. The site also features a large improved hardstand yard designed to support vehicle and outdoor operations. The property sits on 2.35 acres and includes a Phase I ESA that is complete.
Located in Vero Beach’s established industrial corridor, the site is set up for flexible industrial use. Dual zoning is confirmed with Indian River County Planning, with the property designated Light Industrial and Heavy Commercial. Vehicle and outdoor storage is permitted on the IL portion under the Transportation & Utilities use category, also confirmed in writing by Indian River County Planning.
Permitted uses encompass a wide range of industrial and service activities, including contractors and trades, warehousing and distribution, trucking depots, vehicle and outdoor storage, auto repair and dealerships, light manufacturing, machine shops, marine services, wholesale distribution, and nursery or horticultural operations. With no major entitlement risk indicated and the Phase I ESA complete, this property offers an operator-friendly setup for day-one use where both warehouse and office space are needed.
Located in Vero Beach’s established industrial corridor, the site is set up for flexible industrial use. Dual zoning is confirmed with Indian River County Planning, with the property designated Light Industrial and Heavy Commercial. Vehicle and outdoor storage is permitted on the IL portion under the Transportation & Utilities use category, also confirmed in writing by Indian River County Planning.
Permitted uses encompass a wide range of industrial and service activities, including contractors and trades, warehousing and distribution, trucking depots, vehicle and outdoor storage, auto repair and dealerships, light manufacturing, machine shops, marine services, wholesale distribution, and nursery or horticultural operations. With no major entitlement risk indicated and the Phase I ESA complete, this property offers an operator-friendly setup for day-one use where both warehouse and office space are needed.
Key Highlights
- 5,200 SF industrial/commercial building built in 1975: 3,600 SF warehouse and 1,600 SF office
- Warehouse features four roll‑up doors and 14‑foot clear height
- 2.35 acres total with a large improved hardstand yard for vehicle and outdoor storage
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
$74,188
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
3.53%
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%
$1,483,760
$1.5M
Cap Rate 7%
$1,059,829
$1.1M
Cap Rate 9%
$824,311
$824.3K
Market Conditions
NOI Build-Up for 5,200 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
$121.7K $23.40/SF
− Vacancy
−$7.5K −$1.45/SF
EGI
$114.1K $21.95/SF
− OpEx
−$39.9K −$7.68/SF
NOI
$74.2K $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%
$1,483,760
Cap Rate 7%
$1,059,829
Cap Rate 9%
$824,311
Alternative Uses
Best Use
Flex RnD
$1.06M
$927.4K – $1.24M
NOI $74,188 @ 7.0% cap · market cap 3.53%
Second Best
Warehouse
$598.7K
$523.9K – $698.5K
NOI $41,910 @ 7.0% cap · market cap 2.00%
Theoretical Best
Specialty Retail
$1.14M
$997.8K – $1.33M
NOI $79,827 @ 7.0% cap · market cap 3.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
14 ft
Clear height
4
Drive-in doors
Location Intelligence
Trade Area within ½ mile
897
Businesses Nearby
Under-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
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Ready-to-occupy industrial flex site with warehouse, office, multiple roll-up doors, and a large improved hardstand yard.
Where is this flex space located?
The property is located at 825 EIGHTH ST Vero Beach, FL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 5,200 SF industrial/commercial building built in 1975: 3,600 SF warehouse and 1,600 SF office; Warehouse features four roll‑up doors and 14‑foot clear height; 2.35 acres total with a large improved hardstand yard for vehicle and outdoor storage
