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Property summary
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
VerifiedCap rate & NOI
Current use
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Industrial Manufacturer Production Facility
Location
Value estimations
Owner & transaction history
Zoning & alternative use
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…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Derived from the Vero Beach market rent, vacancy and expense benchmarks for this use type.
Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
M · Vero Beach, FLThis 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…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
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…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for M in Vero Beach, FL.
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