1020-1050 Easter Lily Ln, Vero Beach - Apartments CONDO FOR SALE


Vero Beach, FL 32963
$5,995,000 USD
772-486-0238
1020-1050 Easter Lily Ln, Vero Beach, Vero Beach, FL for Sale
$5,995,000 USD
Apartments CONDO - FOR SALE
1/45
null | Request Cap Rate

1020-1050 Easter Lily Ln, Vero Beach
Vero Beach, FL 32963


HIGHLIGHTS

  • Unlikely there will ever be another oceanfront restaurant built on the Treasure Coast.
  • Prime mixed-use configuration combining ocean-close residences with retail condominiums
  • Strong surrounding demographics, supported by high median home values and income levels

OVERVIEW

Rare opportunity to purchase an exclusive oceanfront restaurant located in Vero Beach, Florida, home to a world class barrier island resort area, retired fortune 500 executives, high-end residential properties, fabulous golf courses and other refined amenities situated beautifully between the Indian River Lagoon and the Atlantic Ocean. The unique restaurant was built in 2010 and renovated in 2018. It has 3,087 under air and a 1,400 sq. foot outdoor deck. The deck has electric drop-down screens and rain shields when needed. Total seating capacity is approximately 160, 90 in and 70 out. There is a public beach access parking lot with approximately 50+/- spaces adjoining the property and other nearby street parking. The surrounding area is a quaint oceanfront shopping district drawing tourists and locals alike. The business serves full liquor with a 4 COP License valued at $485k+/-. This can be included in the sale if the total offer is acceptable. They have a full-service standby generator, 400+/- sq ft wine cave, sound absorbing acoustic panels, newer flooring and many other state-of-the-art features. The property was raised 9 feet when it was built, and it is anchored by 256 three-foot-wide pilings driven 55 feet deep. The area is charming and features strong economic growth through tourism and ongoing development. The opportunity includes the real property and all furniture, fixtures, and equipment of the restaurant. The restaurant is part of a Condo Association that features 2 buildings, building 1 houses the restaurant, a 3,431 sq ft salon, and 8 luxury residential condos. Building 2 has 3 luxury condos. The sale does not include the business itself but potentially could. The Executive Chef and staff would likely be open to discussions of re-launching and continuing operations with a new theme and operator. Showings are by appointment only. Please do not speak with the staff. You are welcome to go by and have a delicious meal as a customer and take it all in but please do not otherwise disrupt the ongoing business operations. This is an excellent once in a lifetime opportunity to own an exquisite oceanfront restaurant. Acquisition Experts, LLC is one of Florida's leading M&A Intermediaries and is proud to bring you this extremely exclusive opportunity to acquire this outstanding property, and we look forward to being of service.

FOR SALE DETAILS

PRICE

$5,995,000 USD

PRICE/SF

$1,336 USD /SF

CAP RATE

Request Cap Rate

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Ocean Park

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

81,682 SF

STORIES

3

BUILDING CLASS

A

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.12 AC

LAND SF

48,787 SF

ZONING

C-1A

APN/PARCEL ID

32-40-32-00048-0001-00001.0

ASK ABOUT THIS PROPERTY

Dale ArmorAcquisition Experts LLCMore Info
772-486-0238

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Dale ArmorAcquisition Experts LLCMore Info
772-486-0238

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.