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    2330 41St St Vero Beach, FL 32967
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    2330 41St St Vero Beach, FL 32967

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    • Warehouses
    • 1,307 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 2330 41St St

    Year built
    2024
    Property size
    1,307 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities

    Description

    This exceptional 1,307-square-foot warehouse in Vero Beach, Florida, presents a unique owner-user opportunity. Located at 2330 41st St, 32967, this newly constructed (2024) single-story building offers a spacious and versatile layout, perfect for various storage or industrial uses. The unit features a 19-foot ceiling height, allowing for maximized vertical space and potential mezzanine installation. Access is convenient via a 14' x 14' insulated garage door with a space-saving opener. The building boasts steel-reinforced, poured concrete tilt-wall construction, ensuring durability and security. The property includes 100 amp electrical service, internet connectivity, LED lighting, and plumbing rough-in, providing flexibility for customization. Safety features are incorporated throughout. The lot size is 1,307 square feet, and the property is situated within a gated and fenced area, providing added security. The asking price is $565,000, translating to $432.29 per square foot. The property is zoned for industrial use and is ready for occupancy on October 1, 2024. This is an ideal investment for those seeking a modern, secure, and adaptable warehouse space in a prime Vero Beach location. The air-conditioned unit is perfect for storing valuable possessions or operating a small business.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.4107
    Latitude
    27.6677

    Comparable in this City

    • Value Estimation by Request
      1,800 SF

      7350 41st St

      MINI-WAREHOUSE, STORAGE • 1,800 SF
      7350 41st St, Vero Beach, FL 32967-8815
      View Details
    • Value Estimation
      $895,000
      16,000 SF

      6510 73rd St

      MINI-WAREHOUSE, STORAGE • 16,000 SF
      6510 73rd St, Vero Beach, FL 32967-5400
      View Details
    • Value Estimation by Request
      1,380 SF

      6776 Us Hwy 1st 1

      MINI-WAREHOUSE, STORAGE • 1,380 SF
      6776 Us Hwy 1st 1, Vero Beach, FL 32967-5930
      View Details
    • Value Estimation
      $725,000
      5,716 SF

      5235 41st St

      MINI-WAREHOUSE, STORAGE • 5,716 SF
      5235 41st St, Vero Beach, FL 32967-1025
      View Details
    • Value Estimation
      $910,000
      25,632 SF

      7398 61st St

      MINI-WAREHOUSE, STORAGE • 25,632 SF
      7398 61st St, Vero Beach, FL 32967-4903
      View Details
    • Value Estimation
      $5,420,000
      75,200 SF

      4575 Us Hwy 1st 1

      MINI-WAREHOUSE, STORAGE • 75,200 SF
      4575 Us Hwy 1st 1, Vero Beach, FL 32967-1562
      View Details

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    Similar Nearby for Lease

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      Commercial Land for Lease

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    Vero Beach, FL 32967
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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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