Waterfront Retail Center Investment For Sale
40 Royal Palm Pointe, Vero Beach, Florida 32960
Sold: $2,900,000
Property Details
Property Type
Improved property
Building Type
Freestanding
Building Size
13,840 sqft
Land Size
1.06 acres
Sewer
City
Water
City
Zoning
C –1B General Commercial Trade
Electric
City
Year Built
1960
Property Description
PROPERTY SUMMARY
-Rare opportunity to purchase a waterfront fully leased retail center in the heart of Vero Beach.
-Center includes 8 retail tenants with approximately 8 boat slips located at the rear of the property.
-Walking distance to area restaurants, shopping & park, with only minutes to the beach.
-Owner financing available with large down payment!
PROPERTY: 1.06 Acres, with approximately 423 ft. of frontage on Royal Palm Pointe and133 ft. depth.
BUILDINGS: 13,840 SF Retail Center with 8 Tenants
ZONING: C –1B General Commercial Trades & Services
YEAR BUILT: 1960
R.E. TAXES: $27,784.11 (2015)
OCCUPANCY: 100%
CAP RATE: 6.5%
NOI: $211,000 (no management fees)
SALE PRICE: $3,250,000