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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    602 21st St Vero Beach, FL 32960-5452

    • Retail space
    • 12,880 SF
    • 0.49 lot acres
    OFF-MARKET
    Value Estimations
    $1,500,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-6229826
    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.

    Current Use by Public Records

    • ABC Fine Wine & Spirits / Cigar Shop / Gift Shop

    Property Details for 602 21st St

    Year built
    2017
    Construction
    CONCRETE
    Lot size
    0.49 lot acres
    Property size
    12,880 SF
    Property type
    Retail space
    APN
    33-39-01-00021-0000-00001.2
    APU
    9223372036854775807

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,060,000
      6.5%
      $1,905,000
      7%
      $1,770,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,079,000
      Market price range: $535k - $1.64M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,345,000
      Current use
      OFFICE BUILDING
      $2,355,000
      Change: +1% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $2,230,000
      Change: -5% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,890,000
      Change: -19% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.3859
    Latitude
    27.6403
    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
    $20,185
    $181,427
    $877,687
    $1,059,114
    -
    $181,427
    $877,687
    $1,059,114

    Comparable in this City

    • Value Estimation
      $670,000
      6,184 SF

      2231 14th Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,184 SF
      2231 14th Ave, Vero Beach, FL 32960
      View Details
    • Value Estimation
      $785,000
      5,720 SF

      1929 14th Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,720 SF
      1929 14th Ave, Vero Beach, FL 32960-0669
      View Details
    • Value Estimation by Request
      3,816 SF

      1865 14th Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,816 SF
      1865 14th Ave, Vero Beach, FL 32960-3505
      View Details
    • Value Estimation
      $615,000
      8,606 SF

      2004 14th Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,606 SF
      2004 14th Ave, Vero Beach, FL 32960-3430
      View Details
    • Value Estimation
      $1,935,000
      12,825 SF

      1900 14th Ave

      RETAIL STORES (PERSONAL SERVICES) • 12,825 SF
      1900 14th Ave, Vero Beach, FL 32960
      View Details
    • Value Estimation by Request
      2,400 SF

      2566 12th Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      2566 12th Ave, Vero Beach, FL 32960-5032
      View Details

    Similar Nearby for Sale

    • $79,000

      Established Vintage Decor Business For Sale

      Turnkey vintage decor business with consignors and craftsman space.
      1642 Old Dixie Hwy, Vero Beach, FL 32960
      View Details
    • $1,500,000

      Retail/Manufacturing Building with Loading Dock

      Two-story building with loading dock and parking.
      760 15Th Pl, Vero Beach, FL 32960
      View Details
    • New
      $6,300,000
      2.07 Acres

      Vero Beach Mixed-Use Investment

      Prime mixed-use complex with apartments, retail, office, and restaurant spaces.
      1615 14Th Ave, Vero Beach, FL 32960
      View Details
    • $79,000
      11,163 SF

      Established Business in Vero Beach

      Turnkey business with vintage decor, furnishings, and custom items.
      1642 Old Dixie Hwy, Vero Beach, FL 32960
      View Details
    • $799,000

      Retail Showroom on US Hwy

      Retail showroom with office, conference room, and storage areas.
      2216 Us 1 Hwy, Vero Beach, FL 32960
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    • $2,990,000

      Prime Retail Frontage on US1

      Retail property with high traffic and affluent customer base.
      1610 Us Highway 1, Vero Beach, FL 32960
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,620 SF

      Vero Beach Retail Space Available

      Retail space in grocery-anchored shopping center in Vero Beach.
      1255-1295 Us Highway 1, Vero Beach, FL 32960
      View Details
    • $23 SF/Yr

      Retail/Office Space For Rent

      Affordable retail or office space in high-traffic Vero Beach location.
      1070 12Th St, Vero Beach, FL 32960
      View Details
    • $35 SF/Yr
      1,275 SF

      Retail Space on 20th Street

      Retail space with high visibility and signage opportunities available.
      5125-5135 20Th St, Vero Beach, FL 32960
      View Details
    • $1,250,000
      3,600 SF

      Retail Outparcel Near Indian River

      Retail space in Vero Beach's major retail hub.
      5195 20Th St, Vero Beach, FL 32960
      View Details
    • $28 SF/Yr

      Prime Retail Space Available

      Desirable retail corridor with capital improvements and ample parking.
      701 21St St, Vero Beach, FL 32960
      View Details
    • Contact for pricing
      51,000 SF

      Vero Beach Retail Anchor Space

      Former Kmart anchor space available for lease in Vero Beach.
      1501 Us Highway 1, Vero Beach, FL 32960
      View Details

    Property Visit Statistics

    • Visits by month
      12.8k
    • Visitors by month
      8.1k
    • Avg Time on site
      12 min
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    602 21st St
    Vero Beach, FL 32960-5452
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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