Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    20Th St Vero Beach, FL 32966

    Sponsored
    For Sale
    $1,950,000

    3.41 Acres, Prime SR 60 Location

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    405
    This exceptional 3.41-acre commercial land parcel boasts prime frontage on SR 60 in Vero Beach, Florida, offering significant development potential. Located in Indian River County, zip code 32966, the property enjoys close proximity to I-95, enhancing accessibility and visibility. Currently zoned (CL) Limited Commercial, there's a possibility of rezoning to Commercial General (CG), expanding development options. The property features approximately 330 feet of frontage on SR 60 and a depth of 1,300 feet. Illustrative photos show a potential division plan

    Property Features for 0 20Th St

    General Information

    Property type
    Land
    Lot Size
    148,540 SF

    We can help!

    Listing Contact
    Ron Lambert
    Ron Lambert

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.494314
    Latitude
    27.637441

    Nearby Similar for Sale

    • $79,000
      11,163 SF

      Established Business in Vero Beach

      Turnkey business with vintage decor, furnishings, and custom items.
      1642 Old Dixie Hwy, Vero Beach, FL 32960
      View Details
    • New
      $6,900,000
      33,158 SF

      High-Income Holiday Inn Motel

      Holiday Inn motel in Vero Beach with high revenue.
      9400 19Th Ln, Vero Beach, FL 32966
      View Details
    • $2,790,000
      0.29 Acres

      Canal-Front Mixed-Use Investment Opportunity

      Mixed-use property with retail income and residential upside.
      23 Royal Palm Pt, Vero Beach, FL 32960
      View Details
    • $9,000,000
      16.56 Acres

      Vero Beach Industrial Property For Sale

      16.56-acre industrial property with 90,000+/- sq ft warehouse.
      2600 45Th St, Vero Beach, FL 32967
      View Details
    • $6,300,000
      2.07 Acres

      Vero Beach Mixed-Use Investment

      Prime mixed-use complex with apartments, retail, office, and restaurant spaces.
      1615 14Th Ave, Vero Beach, FL 32960
      View Details
    • $699,000

      Updated Commercial Property in Downtown

      Updated commercial property in downtown Vero Beach with flexible layout.
      1801 24Th St, Vero Beach, FL 32960
      View Details
    • $79,000

      Established Vintage Decor Business For Sale

      Turnkey vintage decor business with consignors and craftsman space.
      1642 Old Dixie Hwy, Vero Beach, FL 32960
      View Details
    • $1,550,000
      8.55 Acres

      Equestrian Property in Vero Beach

      8.55-acre equestrian property with barns and pastures in Vero Beach.
      7625 Polo Sq, Vero Beach, FL 32968
      View Details
    • $1,550,000
      8.55 Acres

      Equestrian Property in Vero Beach

      8.55-acre equestrian property with barns and pastures in Vero Beach.
      7625 Polo Sq Sq, Vero Beach, FL 32968
      View Details
    • $7,500,000

      Vero Beach Commercial Investment Property

      Fully leased commercial site with three income-producing businesses.
      3700 9Th St SW, Vero Beach, FL 32968
      View Details
    • $545,000
      0.38 Acres

      Vero Beach Fenced Commercial Property

      Fenced 0.38-acre CH-zoned property with renovated home and ample storage.
      40 5Th Ave, Vero Beach, FL 32962
      View Details
    • $399,000
      Pending

      Vero Beach Income Property

      Income-producing duplex in Vero Beach near shopping and the beach.
      1835 42Nd Ave, Vero Beach, FL 32960
      View Details

    FAQs

    What type of property is this?
    Land - 3.41 Acres, Prime SR 60 Location
    Where is this land located?
    The property is located at 20Th St Vero Beach, FL.
    What is the asking price?
    The asking price for this property is $1,950,000.
    (772) 778-2334
    Request Owner's contact information
    20Th St Vero Beach, FL 32966
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    20Th St
    Vero Beach, FL 32966
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    20Th St Vero Beach, FL 32966
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Ron Lambert
    Ron Lambert
    Real Estate License ID: FL 531778
    (772) 778-2334
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.