Flexible Medical Office
For Sale
$557,500
829 18TH, Vero Beach, FL 32960
Flexible commercial layout includes treatment, consultation, storage, and restroom areas.
Property Size2,034 SF
Price / SF$274.09
Days on Market9
Property Features for 829 18TH
General Information
Standard status
Active
Size
2,034 SF
Property subtype
General Commercial
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$4,307
Amenities
50 Parking Spaces.
Building Details
Year Built
2007
Listing Agency:
Sunrise Homes Realty Group Inc.
(954) 554-1938
Listed By:
Michael Diaz · License #B26068666
(954) 554-1938
Source:
Xome
Added: Aug 23
Changed: Aug 29
Last Checked: Aug 30 at 2:41PM
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 Sunrise Homes Realty Group Inc.
Investment Insights
Based on property information with market context.
Unit C-2 is a medical office property in Vero Beach with a layout suited to professional healthcare and administrative operations. The space includes two main rooms measuring approximately 25' x 10' each, two private rooms at 11.5' x 9' each, two storage rooms, and two commercial bathrooms. The configuration can accommodate treatment areas, consultation rooms, therapy suites, inventory or records storage, and workstations.
Built in 2007, the property is located at 829 18th Street with access to main roads, shopping centers, and local dining. The property also includes 50 parking spaces, supporting staff and visitor access.
Built in 2007, the property is located at 829 18th Street with access to main roads, shopping centers, and local dining. The property also includes 50 parking spaces, supporting staff and visitor access.
Key Highlights
- Two main rooms, each approximately 25' x 10'
- Two private rooms measuring 11.5' x 9' each
- Two storage rooms for inventory, records, or office use
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
$27,525
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
4.94%
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%
$550,500
$550.5K
Cap Rate 7%
$393,214
$393.2K
Cap Rate 9%
$305,833
$305.8K
Market Conditions
NOI Build-Up for 2,034 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
$51.3K $25.20/SF
− Vacancy
−$5.4K −$2.65/SF
EGI
$45.9K $22.55/SF
− OpEx
−$18.3K −$9.02/SF
NOI
$27.5K $13.53/SF
Area
Indian River County, FL
Vacancy
10.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
40.00%
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%
$550,500
Cap Rate 7%
$393,214
Cap Rate 9%
$305,833
Alternative Uses
Best Use
Healthcare Medical
$393.2K
$344.1K – $458.8K
NOI $27,525 @ 7.0% cap · market cap 4.94%
Second Best
Office B
$310.9K
$272.1K – $362.8K
NOI $21,766 @ 7.0% cap · market cap 3.90%
Theoretical Best
Specialty Retail
$446.1K
$390.3K – $520.4K
NOI $31,225 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
2,672
Businesses Nearby
Well-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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
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- Florida Veterinary League Inc: Nazareth Darrell DVM — 1360 US-1 #1, Vero Beach, FL 32960
- Dr. Nancy Kicherer — 1360 US-1 #1, Vero Beach, FL 32960
- VCA Florida Veterinary League — 1360 US-1 #1, Vero Beach, FL 32960
Frequently Asked Questions
What type of property is this?
Medical Office Space - Flexible commercial layout includes treatment, consultation, storage, and restroom areas.
Where is this medical office space located?
The property is located at 829 18TH Vero Beach, FL.
What is the asking price?
The asking price for this property is $557,500.
What are key features of this property?
This property features: Two main rooms, each approximately 25' x 10'; Two private rooms measuring 11.5' x 9' each; Two storage rooms for inventory, records, or office use
