Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Vero Beach Commercial Land Title is generated by Realmo AI

    1990 98th Avenue, Vero Beach, FL 32966

    View on Map
    Claim this Listing
    For Sale
    Under Contract
    $2,200,000

    LAND - Vero Beach, FL

    Lot size:
    3.48 Acres
    Added:
    Oct 16, 2025
    Days on Market:
    219
    Last Refresh:
    May 22 at 8:06 pm

    Property Features for 1990 98th Avenue

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    ,
    Standard status
    Active Under Contract
    APN
    33380400001009000002.3
    Lot size
    3.48 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    INDIAN RIVER FARMS COMPANY S/D PBS 2 - 25 SEC 4 TWP 33 RNG 38 TR 9 MORE FULLY DESC AS THE NORTH 312.5 FEET OF THE FOLL COM AT SE COR OF TR 9 TH RUN N89-41-27W A DIST OF 30 FT TO THE W ROW OF 98TH AVE TH RUN N00-15-45E ALONG SAID W ROW FOR A DIST OF 5 81.58
    Tax Annual Amount
    6440

    Utilities

    Water source
    Public

    We can help!

    Listing Contact
    T.P. Kennedy

    Listing agent T.P. Kennedy License #3377487

    Listing office Alex MacWilliam, Inc. 2901 Ocean Dr, Vero Beach, FL

    Listing date Oct 16, 2025

    MLS# 292185 Listing URL

    Copyright © 2026 Realtors Association of Indian River County. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 3.48 acres of General Commercial land in a high‑growth corridor.
    • 485' of frontage on SR 60 eastbound at a lighted intersection.
    • Outstanding traffic counts and visibility.
    • Located just 1/4 mile from the I‑95 interchange.
    • Surrounded by booming new residential developments.
    • Ideal for fast food, retail, gas, tire, or drive‑thru concepts.

    Overview

    This 3.48-acre commercial land parcel is located in Vero Beach, Florida. The site features 485 feet of frontage on the eastbound side of State Road 60 at a lighted intersection. Located just 1/4 mile from the I-95 interchange, the property benefits from high traffic counts and visibility. The surrounding area features new residential developments. According to the listing this site is suitable for various commercial uses, including fast food, retail, gas, tire, or drive-thru concepts. The property offers excellent access and exposure within a high-growth corridor.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Big Box & Wholesale Store Auto Repair Shop Nail Salon Pharmacy Auto Parts Store

    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
    -80.529561
    Latitude
    27.638551

    Nearby Similar for Sale

    • $385,000
      728 SF

      Vero Beach Multi-Use Property

      Charming office building in the heart of Vero Beach.
      1324 16th Street, Vero Beach, FL
      View Details
    • $1,200,000
      2,000 SF

      Vero Beach Commercial Opportunity

      Prime commercial property with high visibility and expansion potential.
      725 12th Street, Vero Beach, FL 32960
      View Details
    • $695,000
      1,776 SF

      Vero Beach Commercial Parcels

      Three commercial parcels with US1 frontage in Vero Beach, FL.
      3880 Old Dixie Highway, Vero Beach, FL 32960
      View Details
    • $695,000
      1,776 SF

      Vero Beach Commercial Land Parcels

      Three commercially zoned parcels with US1 frontage near medical district.
      1955 39th Street, Vero Beach, FL 32960
      View Details
    • $79,000
      11,163 SF

      Established Business in Vero Beach

      Turnkey business opportunity with great lease terms in Vero Beach.
      1642 Old Dixie Highway, Vero Beach, FL 32960
      View Details
    • $110,000

      Profitable Dual-Revenue Business Opportunity

      Established pet grooming and aquatics retail business for sale.
      1135 US Highway 1, Vero Beach, FL 32960
      View Details
    • $799,000

      Vero Beach Investment Opportunity

      Investment opportunity in prime location near beaches and shopping plaza.
      148 Vista Royale Square, Vero Beach, FL 32962
      View Details
    • $1,500,000
      7,500 SF

      Vero Beach Flex Opportunity

      7,500 SF flex building on one acre for sale.
      820 35th Court SW, Vero Beach, FL 32968
      View Details
    • $299,000

      Vero Beach Commercial Development Site

      Prime 0.51-acre commercial land for sale in Vero Beach.
      1915 42nd Avenue, Vero Beach, FL 32960
      View Details
    • $1,100,000

      Turnkey Cafe/Restaurant Opportunity

      Fully equipped cafe with expansive outdoor seating in Vero Beach.
      3700 9th Street SW, Vero Beach, FL 32968
      View Details
    • $699,999
      1,504 SF

      Vero Beach Income Property

      Four-unit multifamily property in downtown Vero Beach with income potential.
      1135 17th Place, Vero Beach, FL 32960
      View Details
    • $1,500,000
      3,200 SF

      Vero Beach Multi-Family Investment

      Rare 4-unit property near Vero Beach's barrier island.
      919 Turtle Cove Lane, Vero Beach, FL 32963
      View Details

    FAQs

    What type of property is this?
    Commercial land - 3.48 acres of commercial land with high visibility.
    Where is this commercial land located?
    The property is located at 1990 98th Avenue Vero Beach, FL.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: 3.48 acres of General Commercial land in a high‑growth corridor.; **485' of frontage on SR 60 eastbound at a lighted intersection.**; Outstanding traffic counts and visibility.
    (772) 473-2521
    We can help!
    Listing Contact
    T.P. Kennedy
    Real Estate License ID: 3377487
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1990 98th Avenue, Vero Beach, FL 32966
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!