Shoppes on Old Dixie Vero Beach, Florida

$950,000
Cap Rate: 7.02%
Property type: Multi-Tenant / Shopping Center

Property Details

Cap Rate: 7.02%
Price: $950,000
Rentable Square Feet: 9,428
Net Operating Income: $66,711
Price PSF: $81.47
Land Area: 0.68 AC
Year Built: 1970

1185 Old Dixie Highway
Vero Beach, FL 32960

Investment Highlights

  • Over 7,000 Square Feet of Retail with Four Units of Multi-Family Commercial Real Estate
  • Located at Signalized Intersection of 12th Street and Old Dixie Highway, with a Combined Traffic Count of 25,000 Vehicles Per Day
  • Below Market Rents
  • Historically Low Vacancy
  • One of the Main East-West Thoroughfares in Vero Beach
  • Surrounding National Retailers Include Publix, Walmart Neighborhood Market, Planet Fitness, KMart, Staples, Family Dollar, Advance Auto Parts, O’Reilly Auto Parts, Carrabba’s Italian Grill, Arby’s, Popeyes, Starbucks and Many More

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire Shoppes on Old Dixie, a multi-tenant retail and multi-family building located in beautiful Vero Beach, Florida. The subject property is more than 9,000 square feet of space on a 0.68 acres of land with multiple points of ingress and egress in the front and rear. The property is also located at a signalized intersection with more than 25,000 vehicles per day.

The subject property has below market rents with historically low vacancy. Its located on one of the main east-west thoroughfares in Vero Beach. Surrounding national retailers include Publix, Walmart Neighborhood Market, Planet Fitness, KMart, Staples, Family Dollar, Advance Auto Parts, OReilly Auto Parts, Carrabbas Italian Grill, Arbys, Popeyes, Starbucks and many more. The subject property is one mile from Vero Beach High School and the Intercoastal, and three miles from Vero Beach Regional Airport and the Atlantic Ocean.

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