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    7775 20Th St Vero Beach, FL 32966

    For Sale
    $775,000

    Prime 2.63-acre site, 15 units possible.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 2.63-acre parcel in Vero Beach, Florida, presents a remarkable multifamily development opportunity. Located at 7775 20th St, 32966, this property boasts 329.73 feet of frontage on Route 60 and 350 feet of depth. Currently zoned RM-6 (Multiple-Family Residential District), allowing up to six units per acre, the site offers the potential for approximately 15 total units. The existing 2,954 square foot building was constructed in 1952. Infrastructure is already in place, including county water, sewer, and FPL electric. The property's advantageous location is adjacent to the Point West Development, benefiting from its proximity and established infrastructure. Annual property taxes were $4,849.31 in 2017. The site enjoys high visibility with an estimated 29,473 vehicles passing daily in 2017. This is an exceptional opportunity for investors seeking to develop a multifamily project in a desirable Vero Beach location. The asking price is $775,000. Additional parcels may also be available.

    Property Features for 7775 20Th St

    General Information

    Property type
    Multifamily properties
    Class
    C
    Lot Size
    114,563 SF

    Building Details

    Year Built
    1952
    Buildings
    1
    Stories
    1

    HighLights

    • $775,000 asking price for a 2.63‑acre multifamily land parcel.
    • Located at 7775 20th St, Vero Beach, FL 32966.
    • RM‑6 zoning allows up to 15 units (6 units per acre).
    • Existing utilities include water, sewer, and electricity.
    • 1952‑built, 2,954 sq ft building on site.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Clothing Store Auto Repair Shop Pharmacy Accounting Firm Wholesale Shop 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
    -80.4868408
    Latitude
    27.6384158

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    FAQs

    What type of property is this?
    Multifamily property - Prime 2.63-acre site, 15 units possible.
    Where is this multifamily property located?
    The property is located at 7775 20Th St Vero Beach, FL.
    What is the asking price?
    The asking price for this property is $775,000.
    What are key features of this property?
    This property features: $775,000 asking price for a 2.63-acre multifamily land parcel.; Located at 7775 20th St, Vero Beach, FL 32966.; RM-6 zoning allows up to 15 units (6 units per acre).
    (772) 713-4471
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    7775 20Th St Vero Beach, FL 32966
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    Vero Beach, FL 32966
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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
    7775 20Th St Vero Beach, FL 32966
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