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Property profile & analytics
FOR SALE
Office buildings

1201 19Th Pl Vero Beach, FL 32960

38,472 SF 1.97 ac lot Built 2005
Entity Owned 3-yr Hold ~ Est. High Equity
Property ID
US18-5505665
Property summary
AI-generated overview

This exceptional commercial property, located at 1201 19th Place in Vero Beach, Florida, presents a unique investment opportunity. Comprising two buildings totaling 40,068 square feet on a 1.97-acre lot, this Class B office complex offers a diverse range of spaces suitable for various business needs. Built in 1972 and extensively renovated in 2023, the property boasts a modern aesthetic while retaining its classic charm. The four-story buildings feature multiple tenancies, with available suites ranging from 100 to 1,293 square feet, catering to businesses of all sizes. The property includes ample parking, a significant advantage in the downtown Vero Beach area. The property is conveniently located in Indian River County, Florida, with easy access to major roadways and local amenities. The versatile space is ideal for medical, traditional, or executive office uses, and also includes a cell tower. Elevators are available for convenient access to all floors. This well-maintained property offers a blend of historical character and modern functionality, making it an attractive option for discerning businesses seeking a prime location in Vero Beach. The property's strategic location and recent renovations ensure a high return on investment.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 2005
Construction CONCRETE
Total area 38,472 SF
Lot 1.97 ac (85,813 SF)
Zoning code DTW
APN 33-39-02-00007-0110-00001.0
UPID US18-5505665
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Skypoint Chiropractic / Vero Beach Chiropractor Alternative Medicine Practice
  • Megtec Systems Inc Factory Industrial Manufacturer
  • Edward Jones - Financial Advisor: Thomas P Kiernan, CFP® Financial Advisor
  • HR Dynamics Employment Agency
  • Croom Construction Co Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$8.90M
CAP Approach CAP
$6.76M
Comparable Approach Comparable
$9.46M
Blend (final) Blend
$8.78M
Owner & transaction history
Lmp Vero Beach LLC · 3 yrs held
Lmp Vero Beach LLC
since 2023
Last sale
$10.7M
7 recorded transactions
2023
$10.7M
2018
$6.7M
2001
$1.4M
1969
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
DTW · Vero Beach, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building $9.0M +28.1%
Auto repair, garage $8.3M +18.6%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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