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    1935 45Th St Vero Beach, FL 32967

    For Sale
    $1,550,000

    Prime 5-acre development site, Vero Beach.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional 5-acre residential development site is located at 1935 45th Street, Vero Beach, Florida, 32967. The property, identified by APN 32392600000100000003, is zoned RM-8, allowing for a high-density residential development. Previously planned for 40 townhome units, this land presents a significant opportunity for investors seeking to capitalize on the thriving Vero Beach real estate market. Situated east of US Highway 1, the location offers convenient access to pristine beaches, championship golf courses, upscale shopping, and a variety of other amenities. Comparable area developments are currently selling in the $400,000+ price range, indicating strong potential for significant return on investment. Utilities are readily available to the site. The property's 2021 tax assessment was $3,721.11. The asking price for this remarkable opportunity is $1,550,000, translating to $310,000 per acre or $38,750 per zoned unit based on an 8 units per acre density. The future land use designation is M-1 (Medium-Density Residential - 8 Units/Acre). Don't miss this chance to acquire a premier development site in one of Florida's most desirable coastal communities.

    Property Features for 1935 45Th St

    General Information

    Property type
    Land
    Lot Size
    217,800 SF

    HighLights

    • Address: 1935 45th Street, Vero Beach, FL 32967
    • Price: $1,550,000 ($310,000/acre, $38,750/zoned unit)
    • Land Size: ±5.00 Acres
    • Zoning: RM‑8, Future Land Use: M‑1 (Medium‑Density Residential - 8 Units/Acre)
    • APN: 32392600000100000003
    • Utilities: Available
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing 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
    -80.404793
    Latitude
    27.673825

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    FAQs

    What type of property is this?
    Land - Prime 5-acre development site, Vero Beach.
    Where is this land located?
    The property is located at 1935 45Th St Vero Beach, FL.
    What is the asking price?
    The asking price for this property is $1,550,000.
    What are key features of this property?
    This property features: Address: 1935 45th Street, Vero Beach, FL 32967; Price: $1,550,000 ($310,000/acre, $38,750/zoned unit); Land Size: ±5.00 Acres
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    1935 45Th St Vero Beach, FL 32967
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    Vero Beach, FL 32967
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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
    1935 45Th St Vero Beach, FL 32967
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