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300 Old Dixie Highway Vero Beach, FL 32962

  • 5,011 sqft
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Commercial-Active $ 700,000

MLS#: RX-10488110

Courtesy of: RE/MAX Classic

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Description

Outstanding investment opportunity. Always fully rented. Island Plaza is a 5,011 square foot, multi-tenant strip center located on Old Dixie Highway (FL-605) in the South East submarket of Vero Beach. The Subject was built in 1984 with excellent fundamental retail qualities in mind. The center boasts premium corner lot visibility, access, monument signage, and quality block construction. Island Plaza is located on a busy highway that produces a tremendous traffic count. The retail center is very close to thousands of homes and businesses. Island Plaza consists of 6, Internet resistant tenants that service the surrounding area. The Vero Beach submarket boasts very high income and density. Vero Beach is a high-end destination location with homes that sell for over $30 million dollars. Island Plaza is very close to the Beach and Indian River. Seller has owned this property for 29 years. The center is always full and is easy to lease. Seller has never hired a real estate agent to lease or manage the center. Seller puts up a small sign and multiple tenants flock to this center. New owner can easily raise rents and net more money! The center has stayed full for 29 years. The roof was replaced in 2006. In 2017 all water pipes under the slab where replaced with new pipes that run overhead. In 2013 the center connected to county sewer and water at a cost of $52,0000. The exterior of the building was painted in 2017. Major parking lot upgrades where completed this year. Center has brand new gutter & downspouts. The center also has a brand new irrigation system. Each tenant has separate meters for all utilities. Tenants are responsible for all repairs inside there units. There are no major repairs needed so the buyer's profit margin should easily be maintained for many years to come. This is an extremely rare opportunity to own a retail strip center for such a great price!

Specifications


    Contract Information


  • No
  • 139.69

    General Property Description


  • Yes
  • No
  • Resale
  • retail and office
  • 0.51

    Location, Tax & Legal


  • IR41
  • DIXIE COMMERCIAL PARK SUB - LOT 14 PBI 11-4
  • 2018
  • CH
  • 5931.4

Map View

Map View

    • Auction : No
    • List Price/Bldg SqFt : 139.69
    • For Sale : Yes
    • For Lease : No
    • Built Desc : Resale
    • Property Desc : retail and office
    • Acres : 0.51
    • Waterfront : No
    • # of Stories : 1
    • Total Units : 6
    • % Air Conditioned : 100
    • Ann Assoc/Condo Dues
    • Geo Area : IR41
    • Legal Desc : DIXIE COMMERCIAL PARK SUB - LOT 14 PBI 11-4
    • Tax Year : 2018
    • Zoning : CH
    • Real Estate Taxes : 5931.4
    • Multiple Ofrs Acptd : Yes
    • Directions : 300 Old Dixie Highway, Vero Beach, FL. Close to Velde Ford on U.S. Hwy 1.
    • # of Offices : 6
    • Interior Ceiling Hgt : 12
    • # of Tenants : 6
    • # of Bays : 6
    • Door Height : 10
    • Miles to Beach : 3
    • Total Mrtg Balance
    • Gross Sched Income : 48600
    • Vacancy Rate
    • Gross Oper Income : 48600
    • Total Expenses : 8004
    • Net Oper Income : 45395
    • Source of Expenses : Owner
    • Beach Area
    • Central Business Dst
    • City
    • Commerce Park
    • Investment
    • Management
    • Accounting & Legal
    • Advertising
    • Insurance : 969.87
    • R.E. Taxes : 5694.14
    • Trash
    • Miscellaneous : 500
    • Common Area Maint : 840
    • Total Expenses : 8004
    • Commercial
    • Free Standing
    • Income
    • Office/Professional
    • Office/Retail
    • Retail
    • Shopping Center
    • Strip Store
    • Building and Land
    • Signs
    • Books & Records
    • Contracts
    • Copies of Lease
    • Deed
    • Full Financials
    • Investment Analysis
    • Owner managed
    • Personal Prop Inv
    • Photos
    • Block
    • CBS
    • Presently Leased
    • Central
    • Central Individual
    • Electric
    • Central Individual
    • Electric
    • Zoned
    • Electric
    • Janitorial
    • Sewer
    • Water
    • Entertain
    • Handicapped
    • Kitchen Facilities
    • Landscaped
    • Sprinkler City
    • Sprinkler Water
    • Income
    • Professional Office
    • Retail
    • Meeting Room
    • Office
    • Outside Storage
    • Overhead Doors
    • Private Restroom
    • Public Restroom
    • Rear Access
    • Reception Area
    • Restaurant
    • Separate Office Area
    • Showroom
    • Storage
    • Traffic Auto
    • Traffic Heavy
    • Ceramic Tile
    • Concrete
    • Laminate
    • Electric
    • Municipal Water
    • Public Sewer
    • Public Water
    • Separate Meter
    • Underground
    • Smoke Detector
    • None
    • Acoustic
    • Security Light
    • Comp Rolled
    • Other
    • Cash
    • Conventional
    • Owner
    • At Closing
    • Text Listing Agent
    • Annual
    • Gross Rent
    • Long Term
    • 1-3 Years