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    The Largest CRE Database in the US with Over 1 Million Listings

    2136 Porpoise Point Ln Vero Beach, FL 32963

    Sponsored
    For Sale
    $6,495,000

    1.2+ Acre Oceanfront Estate Potential

    Description

    Added:
    Feb 13, 2025
    Days on Market:
    352
    This exceptional 53,578 square foot oceanfront property in Vero Beach, Florida, presents a unique investment opportunity. Located at 2136 N Porpoise Point Lane, zip code 32963, this 1.2+ acre parcel boasts 140 feet of breathtaking Atlantic Ocean views and private beach access. The land is zoned for both commercial and residential use, offering unparalleled flexibility for development. Imagine creating a luxurious custom coastal estate or a prestigious residential development in this highly sought-after location. The property's prime position within one of Vero Beach's most exclusive neighborhoods ensures both tranquility and proximity to a vibrant array of amenities. Just moments away, you'll find upscale dining options, boutique shopping experiences, and significant cultural attractions. This is a rare chance to acquire a truly remarkable piece of Vero Beach real estate, allowing for the creation of an unparalleled seaside sanctuary. The asking price for this exceptional property is $6,495,000. Don't miss this opportunity to build your coastal dream in this idyllic Florida location. The property is situated in Indian River County.

    Property Features for 2136 Porpoise Point Ln

    General Information

    Property type
    Land

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    Listing Contact
    Michael DeVivo
    Michael DeVivo

    Learn more

    Property Insight Report

    HighLights

    • $6,495,000 asking price.
    • 1.2+ acre oceanfront land parcel in Vero Beach, FL.
    • 53,578 square foot lot size.
    • 140 feet of Atlantic Ocean frontage with private beach access.
    • Prestigious Vero Beach location near dining, shopping, and cultural attractions.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Clothing Store Auto Parts Store Skin Care Clinic Kitchen & Bath

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.3312002
    Latitude
    27.5951473

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    FAQs

    What type of property is this?
    Land - 1.2+ Acre Oceanfront Estate Potential
    Where is this land located?
    The property is located at 2136 Porpoise Point Ln Vero Beach, FL.
    What is the asking price?
    The asking price for this property is $6,495,000.
    What are key features of this property?
    This property features: $6,495,000 asking price.; 1.2+ acre oceanfront land parcel in Vero Beach, FL.; 53,578 square foot lot size.
    Request Owner's contact information
    2136 Porpoise Point Ln Vero Beach, FL 32963
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2136 Porpoise Point Ln Vero Beach, FL 32963
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    Listing Contact
    Michael DeVivo
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    Learn more
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