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    1238 16Th St Vero Beach, FL 32960

    For Sale
    $2,175,000

    Prime Vero Beach investment; 12,362 SF, 16 storage units.

    Property size:
    12,362 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional mixed-use commercial property in Vero Beach, Florida, presents a rare investment opportunity. Located at 1238 16th Street, this centrally located plaza offers multiple income streams and boasts a total of 12,362 square feet on approximately one acre of land. The property comprises two concrete buildings. The first is a strip plaza featuring six storefronts totaling 8,000 square feet, currently occupied by long-term tenants. The second building houses sixteen storage units, a mix of twelve 10x20 units and four 20x20 units, also with established tenants. Built in 1979, this property benefits from its convenient location, providing easy access to Vero Beach's beaches, shopping districts, and downtown area. The asking price is $2,175,000. This is an ideal opportunity for investors seeking a stable, multi-faceted commercial investment with established tenants and strong potential for future growth in a desirable Florida location. The property's size and configuration offer flexibility for a variety of uses and income generation strategies. The existing tenant base provides immediate cash flow, minimizing vacancy risk. This is a turnkey investment ready for a new owner to capitalize on its established success. The property is zoned for mixed-use and is located in the 32960 zip code.

    Property Features for 1238 16Th St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    12,362 SF

    Building Details

    Year Built
    1979

    HighLights

    • $2,175,000 asking price.
    • Mixed‑use property totaling 12,362 square feet.
    • Located at 1238 16th Street, Vero Beach, FL 32960.
    • Built in 1979.
    • Features a six‑unit strip plaza and sixteen storage units (four 20x20 and twelve 10x10).
    • Offers multiple income streams with long‑term tenants.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Boxwood Storage Self-Storage Facility Filthy's Fine Cocktails ... Live Music Venue

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.3961997
    Latitude
    27.6323554

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    FAQs

    What type of property is this?
    Mixed-use property - Prime Vero Beach investment; 12,362 SF, 16 storage units.
    Where is this mixed-use property located?
    The property is located at 1238 16Th St Vero Beach, FL.
    What is the asking price?
    The asking price for this property is $2,175,000.
    What are key features of this property?
    This property features: $2,175,000 asking price.; Mixed-use property totaling 12,362 square feet.; Located at 1238 16th Street, Vero Beach, FL 32960.
    Request Owner's contact information
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    Vero Beach, FL 32960
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1238 16Th St Vero Beach, FL 32960
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