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    Hotel with Renovated Managers Suite Title is generated by Realmo AI

    950 US Highway 1, Vero Beach, FL 32960

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    Renovated, owner-operator-ready hotel with an on-site two-bedroom manager’s suite and proven operating history.

    Type:Hospitality
    Property size:
    29,516 SF
    Price / SF:
    $160/SF
    Added:
    Jun 2, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 6 at 2:06 am

    Property Features for 950 US Highway 1

    General Information

    Standard status
    Active
    Size
    29,516 SF
    Property subtype
    Hospitality

    Building Details

    Year Built
    1993

    We can help!

    Listing Contact
    David Greenberg
    David Greenberg

    Listing agent David Greenberg License #FL SL3140783

    Listing office Cushman & Wakefield - Boca Raton, Florida

    Listing date Jun 2, 2026

    Source Crexi

    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 Cushman & Wakefield - Boca Raton, Florida

    HighLights

    • 1993‑built, well‑maintained hotel with continuously updated ownership and no specific PIP provided.
    • On‑site 2‑bedroom manager’s suite that is renovated, supporting an owner‑operator or hands‑on model.
    • 2025 financials: $1,071,830 total revenue and $364,956 NOI (NOI includes 0% management fee and 4% reserve for replacements).
    • 2024 financials: $1,264,634 total revenue and $420,049 NOI (NOI inclusive assumptions noted).
    • Pro forma going‑in 7.7% CAP rate based on 2025 NOI (per provided information).
    • Located directly on US Highway 1 with approx. 30,500 AADT and strong signage; close to 20th St, 17th St, and Jimmy Buffet Memorial Highway.

    Overview

    This for-sale hotel offers a renovated, spacious two-bedroom manager’s suite on-site, supporting hands-on operation. The property is described as very well-maintained, with continuous updates made by the current ownership and minimal change-of-ownership PIP expected for a new buyer.

    The hotel is located at 950 US Highway 1 in Vero Beach, directly along US Highway 1 with signage visibility to commuters. The section of US Highway 1 closest to the property is listed at approximately 30,500 vehicles per day (Average Annual Daily Traffic). The offering also notes close proximity to 20th Street, 17th Street, and Jimmy Buffet Memorial Highway, along with access to nearby corporate offices, medical facilities, and popular attractions.

    From a buyer fit perspective, this is positioned as an owner-operator acquisition opportunity, including as an option for a first-time hotel buyer. The remarks cite 2025 total revenue of $1,071,830 and NOI of $364,956, with 2024 and 2023 NOI figures also provided. The property is also described as having rebranding potential, with interest noted from Quality Inn, Red Roof, Baymont, and multiple other flags.
    Location Intelligence

    Current Use by Public Records

    Hotels

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    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
    -80.3877538
    Latitude
    27.6190342

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    FAQs

    What type of property is this?
    Hotel - Renovated, owner-operator-ready hotel with an on-site two-bedroom manager’s suite and proven operating history.
    Where is this hotel located?
    The property is located at 950 US Highway 1 Vero Beach, FL.
    What is the asking price?
    The asking price for this property is $4,750,000.
    What are key features of this property?
    This property features: 1993‑built, well‑maintained hotel with continuously updated ownership and no specific PIP provided.; On‑site 2‑bedroom manager’s suite that is renovated, supporting an owner‑operator or hands‑on model.; 2025 financials: $1,071,830 total revenue and $364,956 NOI (NOI includes 0% management fee and 4% reserve for replacements).
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing David Greenberg
    David Greenberg
    Real Estate License ID: FL SL3140783
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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.

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    950 US Highway 1, Vero Beach, FL 32960
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