3535 9th SW St Vero Beach, FL 32968-4122
Property Lookup
Property profile & analytics
3535 9th SW St Vero Beach, FL 32968-4122
- Retail space
- 13,768 SF
- 1.84 lot acres
Property ID
US18-3966098
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Retail space
Property Details for 3535 9th SW St
- Year built
- 2008
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.84 lot acres
- Property size
- 13,768 SF
- Zone code
- CL
- Property type
- Retail space
- APN
- 33-39-27-00001-0030-00001.7
- APU
- 9223372036854775807
Description
This exceptional investment opportunity presents a 13,680-square-foot single-tenant net-leased Goodwill storefront in Vero Beach, Florida, within the West Palm Beach MSA. The property, built in 2008, sits on a 1.84-acre lot and boasts a 6.15% cap rate with a strong NOI of $366,996. The lease, currently 100% occupied, extends to August 31, 2034, offering a remaining term of approximately 9.8 years. Rent escalations are built in, with a 5% increase on May 1, 2030, and 1.4% annually thereafter. Two five-year renewal options further enhance the long-term value. The tenant, a top-performing Goodwill affiliate, recently completed lease extensions, demonstrating a significant commitment to the location and is planning considerable interior renovations in 2024-2025. The property benefits from its prime location with high visibility and easy access to major roadways, including Oslo Road/9th St SW (20,500 vehicles per day) and Interstate-95 (56,000 vehicles per day). Nearby amenities include Publix and Winn-Dixie grocery stores, Walgreens, PNC Bank, CVS, and other national retailers. The area exhibits robust population growth, exceeding 18.5% over the past decade, with over 88,000 people residing within a five-mile radius and average household incomes exceeding $95,000 within one mile. Further enhancing the property's future prospects is a planned $95 million Florida DOT project to improve access to I-95 via 9th St SW, scheduled for completion by 2027. Property upkeep is managed by a local landscaper/manager, with costs reimbursed by the tenant. The property's location in Florida offers the added benefit of being in an income tax-free state. The asking price is $5,967,415, translating to a price per square foot of $436.21. This is a rare opportunity to acquire a high-performing, long-term net-leased asset in a thriving market.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,205,000
- 6.5%
- $2,035,000
- 7%
- $1,890,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,098,000
Market price range: $556k - $1.98M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $2,590,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Vero Beach
- County
- Indian River
- State
- Florida
- Longitude
- -80.4227
- Latitude
- 27.5863
- CBSA code
- 42680
- CBSA name
- SEBASTIAN-VERO BEACH, FL METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$20,926
$272,510
$944,058
$1,216,568
-
$272,510
$944,058
$1,216,568
