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    FOR SALE
    Manufacturing properties

    1245 16Th St, Vero Beach, FL 32960

    8,324 SF 0.48 ac lot Built 1961
    Entity Owned 3-yr Hold Free & Clear
    Property ID
    US18-0558069
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Southeastern Rack Co Industrial Manufacturer Production Facility
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    $765k
    Comparable Approach Comparable
    $1.15M
    Blend (final) Blend
    $1.06M
    Owner & transaction history
    Faulman Investment Ltd · 3 yrs held
    Faulman Investment Ltd
    since 2022
    1 recorded transaction
    2022
    Zoning & alternative use
    M · Vero Beach, FL
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    More about this property
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