Property profile

1245 16Th St Vero Beach, FL 32960

FOR SALE
Manufacturing properties
Property ID
US18-0558069
8,324 SF 0.48 ac lot Built 1961
Entity Owned 4-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional opportunity presents a vacant, 6,524 square foot manufacturing building situated on a 0.48-acre lot in Vero Beach, Florida. The property, located at 1245 16th Street, boasts a prime downtown location with 75 feet of frontage on 16th Street and 239.39 feet of depth. The building, constructed in 1961 of concrete block, features two structures. The North building comprises approximately 700 square feet of air-conditioned office/breakroom space, 4,300 square feet of air-conditioned shop space, and 1,500 square feet of un-air-conditioned space. It includes a 12x12 roll-up door and an 8x8 roll-up door. The South building offers approximately 700 square feet of office space and 1,100 square feet of work area with an 8x8 bay door. The property features a 13.5-foot clear ceiling height (15 feet to the bottom of the roof deck), 400 amp, 3-phase power, and ample parking for approximately 15 vehicles. The property is zoned (M) Industrial and benefits from natural gas, city water/sewer, and FPL electricity. 2023 property taxes totaled $8,766.11. The asking price for this rare opportunity is $1,325,000.

Property profile

Verified
Property type Manufacturing properties
Use group MANUFACTURING (LIGHT)
Year built 1961
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 8,324 SF
Lot 0.48 ac (20,909 SF)
Zoning code M
APN 33-39-01-00000-5000-00004.0
UPID US18-0558069

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Industrial Manufacturer Production Facility

Location

1245 16Th St Vero Beach, FL 32960
Vero Beach metro Census 50102 SEBASTIAN-VERO BEACH, FL METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$765k
Comparable Approach Comparable
$1.15M
Blend (final) Blend
$315k

Owner & transaction history

since 2022
1 recorded transaction
2022
Price N/A

Zoning & alternative use

M · Vero Beach, FL
Zoning description

This district is designed to accommodate a wide range of industrial and related uses which conform to a high level of performance standards. Industrial establishments of this type within completely enclosed buildings sha…

General category INDUSTRIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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