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    98Th Ave Vero Beach, FL 32966

    For Sale
    $7,190,134

    76.56 acres, dual zoning potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 76.56-acre property in Vero Beach, Florida, presents a unique investment opportunity. Located in Indian River County, at the intersection of 98th Ave and 20th Street (zip code 32966), this expansive land parcel offers a compelling blend of industrial and residential potential. The northern approximately 50.97 acres are currently designated for commercial/industrial use, while the southern approximately 25.59 acres are zoned for multi-family development. Currently utilized for airplane hangars and an airstrip, the property boasts two artesian wells (8-10 inch and 4 inch). Existing structures include a 9,900 sq ft building and a 32,000 sq ft building, both constructed in 1973. The property is situated within an Opportunity Zone and benefits from existing FPL and gas easements along the eastern boundary. The current zoning is (A-1) Agricultural District; however, the county suggests potential rezoning to industrial, commercial, or multi-family (up to 10 units per acre) under the "Live Local Act," contingent upon the developer constructing at least 40% affordable housing. County water and sewer are available. The 2023 property taxes totaled $16,395.35. The asking price for the entire 76.56 acres is $10,800,000 ($141,066 per acre); however, the owner may consider selling the northern 50.97 acres separately for $7,190,134.

    Property Features for 0 98Th Ave

    General Information

    Property type
    Land
    Lot Size
    2,220,253 SF

    HighLights

    • $7,190,134 asking price.
    • 50.97‑acre land parcel in Vero Beach, FL.
    • Located in an Opportunity Zone.
    • Zoned (A‑1) Agricultural, with potential for rezoning to Industrial, Commercial, or Multi‑Family (10 units/acre with conditions).
    • County water and sewer available; FPL electric.
    • Two artesian wells.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.527831
    Latitude
    27.636961

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    FAQs

    What type of property is this?
    Land - 76.56 acres, dual zoning potential.
    Where is this land located?
    The property is located at 98Th Ave Vero Beach, FL.
    What is the asking price?
    The asking price for this property is $7,190,134.
    What are key features of this property?
    This property features: $7,190,134 asking price.; 50.97-acre land parcel in Vero Beach, FL.; Located in an Opportunity Zone.
    Request Owner's contact information
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    Realmo Value Estimation

    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.

    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.

    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
    98Th Ave Vero Beach, FL 32966
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