Prime Retail/Office Investment
2101 Indian River Boulevard, Vero Beach, Florida 32960
Sold: $6,400,000
Property Details
Property Type
Improved property
Building Type
Freestanding
Building Size
37,248 sqft
Land Size
1.41 acres
Sewer
City
Water
City
Zoning
C-1B
Electric
City
Property Description
FEATURES:
- Immaculately Maintained Retail / Office Building
- Hurricane Rated Exterior Insulation and Finish System Protecting Exterior and Insulating Interior (EIFS)
- Gold Travertine Flooring Throughout Common Areas
- 24/7 Fire and Sprinkler System Monitoring
- 24/7 Security Monitoring with Key Card Entry System
- Hurricane Rated Glass and Doors Along Perimeter
- Acuity Brands Light System
- Two Elevators, Two Stairwells, and Incline Platform Lift
- Approx. 4,086 SF of Addt’l Storage can be Rented
BUILDING:
- Bldg. 2101 Gross SF = 28,170; Current Rentable SF = 18,638
- Bldg. 390 Gross SF = 9,078; Current Rentable SF = 8,278
- Total Gross SF 37,248 Total Rentalble SF 26,916
PROPERTY SIZE: 1.41 Acres, with approx. 235 ft. of frontage on Indian River Blvd. and approx. 111 ft. of frontage on 21st Street with clear corner visibility.
YEAR BUILT: 1974; Full Renovation Completed 2011
ZONING: C-1B
UTILITIES: City Water, Sewer, & Electric
R.E. TAXES: $52,735 (2018)
NOI: $452,017.45 (Currently 96% Occupied)
CAP RATE: 6.7% (Pro-Forma Rate 7%+)
SALE PRICE: $6,750,000