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    Property profile & analytics

    8905 20th St Vero Beach, FL 32966-1711

    • Drive through restaurants
    • 3,055 SF
    • 1.17 lot acres
    OFF-MARKET
    Last Sale
    Mar 07, 2022
    $880,000
    Value Estimations
    $1,055,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5091535
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Coreet Animal Group / Animal Protection Organization
    • Editex Wildlife Group / Animal Protection Organization

    Property Details for 8905 20th St

    Year built
    1995
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.17 lot acres
    Property size
    3,055 SF
    Zone code
    CG
    Property type
    Drive through restaurants
    APN
    33-38-02-00006-0000-00002.0
    APU
    9223372036854775807

    Description

    This 3,055-square-foot quick-service restaurant building in Vero Beach, Florida, presents a compelling investment opportunity. Located on a 1.17-acre lot at 8905 20th St, zip code 32966, this single-tenant property enjoys exceptional visibility and accessibility. Less than a mile from the I-95 access ramp, it benefits from high traffic counts and proximity to a TA Truck Center, ensuring a consistent flow of potential customers. The property is situated near other established national brands, including Wawa, McDonald's, and a newly constructed RaceTrac gas station, creating a strong commercial environment. While the interior requires renovation (vacant for over a year), the roof was recently resurfaced in 2021. The CG zoning allows for flexibility. Build-to-suit and ground lease options are available, providing adaptability for prospective buyers to customize the space to their specific operational needs. This location offers significant potential for a thriving quick-service restaurant business. The property's strategic location and flexible options make it an attractive investment in a high-growth area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,055,000
      ML approach
      $1,050,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.5101
    Latitude
    27.6385
    CBSA code
    42680
    CBSA name
    SEBASTIAN-VERO BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $12,731
    $346,562
    $380,413
    $726,975
    -
    $346,562
    $380,413
    $726,975

    Comparable in this City

    • Value Estimation by Request
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      DRIVE-THRU RESTAURANT, FAST FOOD • 3,315 SF
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    • Value Estimation
      $475,000
      4,290 SF

      9080 20th St

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,290 SF
      9080 20th St, Vero Beach, FL 32966-6602
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    • Value Estimation
      $465,000
      3,576 SF

      5790 20th St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,576 SF
      5790 20th St, Vero Beach, FL 32966-4642
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    • Value Estimation
      $500,000
      4,704 SF

      6020 Elon Ln

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,704 SF
      6020 Elon Ln, Vero Beach, FL 32966-1007
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    • Value Estimation
      $500,000
      3,430 SF

      5875 20th St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,430 SF
      5875 20th St, Vero Beach, FL 32966-1018
      View Details
    • Value Estimation
      $365,000
      2,324 SF

      9009 20th St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,324 SF
      9009 20th St, Vero Beach, FL 32966-6603
      View Details

    Similar Nearby for Sale

    • $915,000

      Approved Restaurant Site For Sale

      Approved quick serve restaurant site with access to major corridor.
      SR60 & Outlet Mall Entrance, Vero Beach, FL 32966
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      Vero Beach Retail Pad - Ready to Build

      Prime QSR site, high traffic, vacant lot.
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    • $299,900

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    • New
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      Vero Beach Retail Opportunity

      Retail property for sale in Vero Beach, Florida.
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    • $319,900

      Retail Space in West Vero

      Retail space with kitchen, offices, and rear access.
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    • $10,800,000
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      76 Acres, Multi-Use Potential, Opportunity Zone
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    Similar Nearby for Lease

    • Contact for pricing
      3,251 SF

      Vero Beach Retail Space

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    • $14 SF/Yr

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    • $25 SF/Yr
      2,640 SF

      Vero Beach Retail Space Available

      Renovated 2,640 SF retail space near I-95 in Vero Beach.
      8801 20Th St, Vero Beach, FL 32966
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    • $14 SF/Yr
      15,500 SF

      Retail Space on State Road

      Retail space available in renovated Vero Beach shopping center.
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      View Details
    • $18 SF/Yr
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      Vero Beach Retail Space Available

      Prime Vero Beach retail, two units available.
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    • $18 SF/Yr
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      Vero Beach Retail Space Available

      3,600 SF retail space with modern design for lease.
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      View Details
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    Vero Beach, FL 32966-1711
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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