South Beach Investment Property

PROPERTY SUMMARY
-Rare opportunity to purchase one of Vero Beach’s trophy properties!
-Two restaurants and a 7-unit apartment building.
-Walking distance to area restaurants, shopping with only minutes to the beach.
-Private Beach Access.
-Currently leased by Dario and Di Mare restaurants.
-Zoning will allow a total of 30 hotel units along with the 2 existing restaurants.

PROPERTY - .97 Acres with 269.46 ft. frontage on Ocean Drive and 196.80 ft. of depth
BUILDINGS -
1555 Ocean Dr. - 3,516 sf 1 story building
1517 Ocean Dr. - 8,393.5 sf 2 story building
ZONING -
C-1A - Tourist Commercial Services
RM-10/12 - Medium & High Density Family
YEAR BUILT -
1961 - 1517 Ocean Drive
1979 - 1555 Ocean Drive
R.E. TAXES - $20,876.08 - 2015 Total 3 parcels
OCCUPANCY - 100%
CAP RATE - 5%
NOI - $160,956
SALE PRICE - $3,200,000