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    98Th Ave Vero Beach, FL 32966

    For Sale
    $7,645,500

    76.56 acres, multi-use 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. The land is comprised of approximately 50.97 acres zoned (A-1) Agricultural District, currently used for airplane hangars and an airstrip, and an additional approximately 25.59 acres suitable for multi-family development. The county suggests potential rezoning to Industrial or Commercial, or Multi-Family (10 units per acre) utilizing the "Live Local Act" with at least 40% affordable housing. Two artesian wells (8-10 inch and 4 inch) are on the site. Existing improvements include a 9,900 sq ft building and a 32,000 sq ft building, both constructed in 1973. County water and sewer are available, along with FPL electric. The property is located in an Opportunity Zone. The asking price for the 50.97-acre portion is $7,645,500 ($150,000 per acre), while the entire 76.56 acres is offered at $10,800,000 ($141,066 per acre). 2023 property taxes were $16,395.35. FPL and gas easements exist along the east boundary. This versatile property offers significant development potential for a variety of uses.

    Property Features for 0 98Th Ave

    General Information

    Property type
    Farms
    Lot Size
    2,220,253 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Vero Beach
    County
    Indian River
    State
    Florida
    Longitude
    -80.52796
    Latitude
    27.637678

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    FAQs

    What type of property is this?
    Farm - 76.56 acres, multi-use potential
    Where is this farm located?
    The property is located at 98Th Ave Vero Beach, FL.
    What is the asking price?
    The asking price for this property is $7,645,500.
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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.

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    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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